Stock of The Day: Could DCT Industrial Trust Inc Change Direction After Today’s Gap Down?

Stock of The Day: Could DCT Industrial Trust Inc Change Direction After Today's Gap Down?

The stock of DCT Industrial Trust Inc (NYSE:DCT) gapped down by $0.1 today and has $44.02 target or 8.00% below today’s $47.85 share price. The 8 months technical chart setup indicates high risk for the $4.31B company. The gap down was reported on Oct, 4 by If the $44.02 price target is reached, the company will be worth $344.80M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 1.44% or $0.7 on October 3, hitting $47.85. DCT Industrial Trust Inc (NYSE:DCT) has risen 28.18% since March 1, 2016 and is uptrending. It has outperformed by 15.97% the S&P500.

Analysts await DCT Industrial Trust Inc (NYSE:DCT) to report earnings on November, 3. They expect $0.54 earnings per share, up 8.00% or $0.04 from last year’s $0.5 per share. DCT’s profit will be $48.64 million for 22.15 P/E if the $0.54 EPS becomes a reality. After $0.54 actual earnings per share reported by DCT Industrial Trust Inc for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

DCT Industrial Trust Inc (NYSE:DCT) Ratings Coverage

Out of 8 analysts covering DCT Industrial Trust (NYSE:DCT), 1 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 13% are positive. DCT Industrial Trust has been the topic of 10 analyst reports since August 12, 2015 according to StockzIntelligence Inc. Mizuho initiated DCT Industrial Trust Inc (NYSE:DCT) on Wednesday, September 28 with “Neutral” rating. As per Wednesday, September 2, the company rating was downgraded by TheStreet. Cowen & Co initiated DCT Industrial Trust Inc (NYSE:DCT) rating on Wednesday, August 12. Cowen & Co has “Market Perform” rating and $37 price target. Evercore downgraded the shares of DCT in a report on Monday, May 23 to “Hold” rating. The firm has “Buy” rating by Evercore given on Tuesday, September 8. Credit Suisse upgraded DCT Industrial Trust Inc (NYSE:DCT) on Friday, February 5 to “Neutral” rating. On Friday, December 11 the stock rating was downgraded by Credit Suisse to “Underperform”. The firm earned “Neutral” rating on Thursday, August 25 by BTIG Research. The stock of DCT Industrial Trust Inc (NYSE:DCT) has “Overweight” rating given on Monday, September 14 by KeyBanc Capital Markets.

According to Zacks Investment Research, “DCT INDUSTRIAL is a leading industrial real estate company that owns, operates and develops high quality bulk distribution and light industrial properties in high volume distribution markets in the U.S. and Mexico.”

Insitutional Activity: The institutional sentiment increased to 1.4 in 2016 Q2. Its up 0.04, from 1.36 in 2016Q1. The ratio is positive, as 21 funds sold all DCT Industrial Trust Inc shares owned while 67 reduced positions. 60 funds bought stakes while 63 increased positions. They now own 87.98 million shares or 0.71% more from 87.36 million shares in 2016Q1.
Capstone Asset holds 0.01% or 5,840 shares in its portfolio. Price T Rowe Assocs Md last reported 3.95 million shares in the company. Metropolitan Life Insur Ny has 87,899 shares for 0.03% of their US portfolio. Davis Selected Advisers accumulated 358,793 shares or 0.08% of the stock. Proshare Advsrs Lc has invested 0.02% of its portfolio in DCT Industrial Trust Inc (NYSE:DCT). Schwab Charles Invest Management, a California-based fund reported 575,036 shares. Comerica Bank & Trust has 0.03% invested in the company for 60,832 shares. Schroder Management owns 285,106 shares or 0.03% of their US portfolio. Amica Pension Fund Board Of Trustees last reported 0.04% of its portfolio in the stock. Renaissance Technologies Ltd Liability reported 39,375 shares or 0% of all its holdings. Menta Capital Limited Liability Com holds 0.05% or 8,000 shares in its portfolio. Utd Capital Finance Advisers Lc accumulated 0.01% or 13,901 shares. The New York-based Blackrock has invested 0.02% in DCT Industrial Trust Inc (NYSE:DCT). Barclays Plc holds 61,559 shares or 0% of its portfolio. Geode Cap Mngmt has 0.02% invested in the company for 688,865 shares.

Insider Transactions: Since May 11, 2016, the stock had 0 insider purchases, and 3 sales for $790,825 net activity. The insider OKeeffe John C sold 2,250 shares worth $102,625. The insider Skomal Mark sold $50,400. Doyle Neil sold $637,800 worth of stock.

More recent DCT Industrial Trust Inc (NYSE:DCT) news were published by: which released: “Ex-Dividend Reminder: State Street, Healthcare Trust Of America and DCT …” on June 27, 2016. Also published the news titled: “DCT Industrial Trust® Acquires 27.4 Acres in Dallas for Two Development Projects” on July 14, 2016.‘s news article titled: “DCT Industrial Trust® Breaks Ground on 796000 Square Foot Development in Tracy, CA” with publication date: July 13, 2016 was also an interesting one.

DCT Company Profile

DCT Industrial Trust Inc. (DCT), incorporated on April 12, 2002, is an industrial real estate company. The Firm is engaged in the acquisition, development, leasing and management of bulk distribution and light industrial properties located in distribution markets in the United States. The Firm operates in three divisions: East, Central and West. The Firm conducts its business through an owned and controlled subsidiary, DCT Industrial Operating Partnership LP (Operating Partnership). The Firm owns its properties through the Operating Partnership and its subsidiaries. DCT owns approximately 95.6% of the equity interests in the Operating Partnership. The Company’s Projects include DCT Fairburn, DCT Downs Park Building A, DCT Downs Park Building B, DCT Central Avenue, DCT Stockyards Industrial Center, DCT North Avenue Distribution Center, DCT O’Hare Logistics Center, DCT Waters Ridge, DCT Freeport West, DCT Northwest Crossroads Logistics Center II, DCT Fife 45 North and DCT Jurupa Ranch.

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