DCT Industrial downgraded at BMO Capital As noted earlier, BMO Capital downgraded DCT to Market Perform from Outperform. The firm thinks that industrial operating fundamentals are likely at peak levels, while the downside risk of increased supply continues to grow and other property types are more attractive.
DCT Industrial announces 1-for-4 reverse stock split DCT Industrial Trust announced that its board approved a reverse stock split of the company’s outstanding shares of common stock at a ratio of 1-for-4. The reverse stock split is expected to take effect on November 17. Every four issued and outstanding shares of common stock will be converted into one share of common stock. As a result of the reverse stock split, the number of outstanding shares of common stock of the company will be reduced from approximately 338.1M to approximately 84.5M. The company expects that a corresponding adjustment will be made to its quarterly dividend. The amount of any future dividends payable by the company will be determined by and are at the discretion of the company’s board.