This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

DCT Industrial Trust Inc. ® Reports Fourth Quarter And Full-Year 2013 Results

DCT Industrial Trust Inc. ® (NYSE: DCT), a leading industrial real estate company, today announced financial results for the three months and year ending December 31, 2013.

“DCT had an excellent fourth quarter – a strong finish to a very successful and productive year. We made progress on all operating fronts, exceeded our capital deployment goals and improved the quality and focus of our portfolio,” said Phil Hawkins, Chief Executive Officer of DCT Industrial. “We also made tremendous progress to further strengthen our balance sheet, as we obtained investment grade bond ratings and successfully completed our debut bond offering in October.”

Funds from operations, as adjusted, attributable to common stockholders and unitholders (“FFO”) for Q4 2013 totaled $38.0 million, or $0.11 per diluted share, compared with $33.0 million, or $0.11 per diluted share, for Q4 2012. These results exclude $2.0 million and $1.0 million of acquisition costs for the quarters ending December 31, 2013 and 2012, respectively.

For the year ending December 31, 2013, FFO totaled $144.2 million, or $0.45 per diluted share, compared with $118.1 million, or $0.42 per diluted share, for the year ending December 31, 2012, representing an increase of 7.1 percent. These results exclude $3.6 million and $2.0 million of acquisition costs for the years ending December 31, 2013 and 2012, respectively.

Net income attributable to common stockholders for Q4 2013 was $13.9 million, or $0.04 per diluted share, compared with a net loss attributable to common stockholders of $0.8 million, or $0.00 per diluted share, reported for Q4 2012. Net income attributable to common stockholders for the year ending December 31, 2013 was $15.9 million, or $0.05 per diluted share, compared with a net loss of $15.1 million, or $0.06 per diluted share, for the year ending December 31, 2012.

Property Results and Leasing Activity

As of December 31, 2013, DCT Industrial owned 396 consolidated operating properties, totaling 62.1 million square feet, with occupancy of 93.3 percent, an increase of 50 basis points over Q3 2013 and 100 basis points over Q4 2012. On a same-portfolio basis, consolidated operating occupancy would have been 93.8 percent; however, the impact of acquisitions and dispositions during the quarter brought occupancy down 50 basis points. In addition, approximately 977,000 square feet, or 1.5 percent of DCT Industrial’s total consolidated portfolio, was leased but not yet occupied at December 31, 2013.

1 of 9

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,058.35 -469.68 -2.84%
S&P 500 1,913.85 -58.33 -2.96%
NASDAQ 4,636.1050 -140.4030 -2.94%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs