DCT Industrial Trust Inc (NYSE: DCT) shares rose in value on Wednesday February 8 on lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile U.S. stocks traded modestly lower on Wednesday, as losses in energy shares following a drop in oil prices and a slide in financials weighed on the main indexes.
The S&P 500 index SPX, -0.17% declined 6 points, or 0.3%, to 2,286, with six of the main sectors trading lower. Energy and financials were leading the losses, down more than 1%.
The Dow Jones Industrial Average DJIA, -0.26% was down 65 points, or 0.3%, to 20,021, a day after the blue-chip index set an intraday high at 10,155.35. The Nasdaq Composite COMP, -0.13% retreated from an all-time high set on Tuesday, falling 23 points, or 0.4%, to 5,650.
Analysts at Capital One Financial Corporation upgraded shares of DCT Industrial Trust Inc (NYSE: DCT) from Equal Weight to Overweight today. With a rating of Overweight on the shares, the company has a 52-week high of $50.57. The one-year price target of $49.45 is higher than the opening price of $45.83, causing a fair amount of other analysts to report on the stock recently. Share prices sometimes get a bounce to the upside when analysts upgrade a stock.
Shares of DCT Industrial Trust Inc (NYSE: DCT) opened at $45.83 yesterday and traded in a range between, $45.17 and $45.86, and last traded at $45.50, a spike of $0.42 from the previous closing price.
DCT Industrial Trust Inc (NYSE: DCT) now has a market cap of 4.16B.
DCT Industrial Trust Inc (NYSE: DCT) Average Daily Trading Volume
50,568 shares traded hands yesterday, 15 percent lower than the norm, out of a total float 91,157,000. lower than normal. Look for trading volume to pick up in the coming days as momentum traders often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.
While increased trading for short periods will not mean much will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors have substantial teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
DCT Industrial Trust Inc (NYSE: DCT) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
With that in mind, DCT Industrial Trust Inc (NYSE: DCT) now has a 50-day MA of $47.10 and 200-day MA of $47.21. It has traded in a 52-week range between $33.80 – 50.57 and today’s last price is 10.03%% lower than the 52 week high of $50.57.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors identify companies that have raised their earnings by at least 25% for a 3 year period.
DISCLOSURE: The views and opinions expressed in this article do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.