Dallas, Texas 10/10/2013 (Financialstrend) – The stock of real estate investment trust DCT Industrial Trust Inc. (NYSE:DCT) has been facing strong head winds over the past few weeks at the browsers. During trading on October 9, the stock had posted a dip of close to 1% shedding $0.07 per share to end the day at $7.02 in comparison to previous day close. The stock attracted a lot of selling investors with close to 6.5 million shares of the stock changing hands in comparison to its daily trading average of $4.59 million. These reduced valuations have taken the stock 15% lower than its 52 week high valuations and is down 22% from its 52 week low pricing.
In order to keep its investors happy the REIT has maintained a dividend payout regime which is less attractive than its nearest competition. The $2.04 billion market cap company has paid out close to $0.28 dividend over the trailing 12 months time period. This translates to a 3.99% dividend yield over the past 12 months.
DCT Industrial Trust Inc. announced on September 26, that it operations has received investment-grade ratings with stable outlook from Moody’s rating agency. Moody’s rated company financials at Baa2 . This was followed by a Standard & Poor rating of BBB-.
Matt Murphy, who navigates the finances of DCT in his role of Chief Financial Officer indicated his happiness at the ratings and commented that ““We are very pleased to receive these investment-grade ratings. Broadening our access to unsecured capital is an important achievement as we continue to grow our business while maintaining a strong and flexible balance sheet.”
DCT Industrial Trust is into developing and operating real estate which meets the requirements of industry. Its business is spread across United States and Mexico. At the time of reporting of its 2Q numbers in June 30 Company owned close to 74.9 million square feet of properties.