Wells Fargo Downgrades DCT Industrial Trust Inc. (DCT) to Underperform; Shares Currently Overvalued
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Price: $7.73 -1.28%
Rating Summary:
3 Buy, 8 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
3 Buy, 8 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade DCT Now!
Wells Fargo downgraded DCT Industrial Trust Inc. (NYSE: DCT) from Market Perform to Underperform, price target range $5.50-$6.00.
Analyst, Brendan Maiorana, said, "We like the strategic moves the company has made during the past few years--buying value-add assets and commencing new development projects, and being patient with non core dispositions--but believe there are still challenges from non core assets within DCT's portfolio, leverage that’s modestly above target levels, and a valuation that doesn’t appear compelling vs. peers. We believe NOI growth is likely to be partially offset by de-leveraging moves (over time) and non core property dispositions."
For an analyst ratings summary and ratings history on DCT Industrial Trust Inc. click here. For more ratings news on DCT Industrial Trust Inc. click here.
Shares of DCT Industrial Trust Inc. closed at $6.24 yesterday, with a 52 week range of $3.88-$6.36.
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Analyst, Brendan Maiorana, said, "We like the strategic moves the company has made during the past few years--buying value-add assets and commencing new development projects, and being patient with non core dispositions--but believe there are still challenges from non core assets within DCT's portfolio, leverage that’s modestly above target levels, and a valuation that doesn’t appear compelling vs. peers. We believe NOI growth is likely to be partially offset by de-leveraging moves (over time) and non core property dispositions."
For an analyst ratings summary and ratings history on DCT Industrial Trust Inc. click here. For more ratings news on DCT Industrial Trust Inc. click here.
Shares of DCT Industrial Trust Inc. closed at $6.24 yesterday, with a 52 week range of $3.88-$6.36.
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