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DCT Industrial Trust Inc.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2018 10-Q, filed Aug 3, 2018. Its latest SEC filing is a 15-12B from Nov 9, 2018.

The sections below describe the company as of the FY2017 annual report.

What Did They Do?

Owns, develops, leases and manages bulk-distribution and light-industrial properties for companies that need warehouse and distribution space.

How Did They Make Money?

Companies pay rent under leases for warehouse space, generally through monthly contractual rent payments; tenants also reimburse the company for property taxes, insurance, repairs, maintenance and other recoverable operating costs.

FY2017 revenue

Who Were Their Customers?

Leases warehouse and light-industrial space to local, regional and national companies, including distribution users, and works with tenants on expansion and relocation requirements.

Did Revenues Turn Into Profits?

Yes. It kept 24 cents of every revenue dollar as net income in FY2017.

Operating income, FY2017
29% of revenue
▲ +15% vs FY2016 ($108.1M, 28%)
Net income, FY2017
24% of revenue
▲ +11% vs FY2016 ($93.1M, 24%)

How Were They Changing?

Since the FY2017 annual report
Latest quarter: Q2 FY2018, the three months to Jun 30, 2018
Revenue
▲ +5%
vs $104.5M in Q2 FY2017
Net income
▼ −42%
vs $41.6M in Q2 FY2017
  • Aug 22, 2018 Prologis completed its merger with DCT DCT shareholders’ shares were converted into rights to receive Prologis stock.
  • Aug 2, 2018 DCT stopped issuing and reaffirming guidance The company said it would no longer provide guidance or affirm past guidance.
  • Apr 30, 2018 DCT agreed to merge with Prologis The agreement provided for DCT to merge into Prologis after the operating partnership merger.

Grew. Revenue grew 47% in 4 years, from $289M in FY2013 to $424.5M in FY2017, about 10% a year.

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