UPDATE: Wunderlich Initiates DCT Industrial Trust at Hold

Wunderlich is out with its report today on DCT Industrial Trust (NYSE: DCT), initiating DCT at Hold.

In a note to clients, Wunderlich writes, "We are initiating coverage of DCT Industrial Trust with a Hold rating on the shares. We like the (1) attractive 7.1% NOI cap rate, (2) $43/SF basis, (3) low 14.5x 2012E FFO multiple, (4) pure-play industrial portfolio, (5) strategy to focus on fewer markets, and (6) the accessible and forthcoming management."

Shares of DCT closed Thursday at $5.13.