DCT Industrial Trust prices 16.3 million shares at $12.25

DCT Industrial Trust, a real estate investment trust (REIT) specializing in bulk distribution and light industrial properties in 23 markets in the US, announced on Tuesday evening the pricing of its IPO of 16.3 million shares at $12.25 a share, near the upper end of its $11.50 to $12.50 range. Merrill Lynch and Wachovia Securities served as joint book-running managers on the deal. The Denver, CO-based company will open for trading on Wednesday morning under the symbol "DCT" on the NYSE.