Zacks Investment Research upgraded shares of QTS Realty Trust, Inc. (NYSE:QTS) from a hold rating to a buy rating in a research report released on Tuesday, October 17th. They currently have $60.00 price objective on the real estate investment trust’s stock.
According to Zacks, “QTS Realty Trust Inc. is a real estate investment trust. It is an owner, developer and operator of carrier-neutral, multi-tenant data centers. QTS’s data centers are facilities that house the network and computer equipment of multiple customers and provide access to a range of communications carriers. The Company refers to its spectrum of core data center products as its 3Cs which consists of Custom Data Center, Colocation and Cloud and Managed Services. QTS Realty Trust Inc. is headquartered in Kansas, United States. “
A number of other research analysts have also issued reports on QTS. BidaskClub upgraded QTS Realty Trust from a sell rating to a hold rating in a report on Thursday, August 17th. Deutsche Bank AG reiterated a hold rating and issued a $52.00 target price (down from $53.00) on shares of QTS Realty Trust in a report on Friday, August 11th. TheStreet lowered QTS Realty Trust from a b- rating to a c rating in a report on Tuesday, July 25th. Morgan Stanley reiterated an equal weight rating and issued a $58.00 target price (up from $53.00) on shares of QTS Realty Trust in a report on Friday, August 25th. Finally, Royal Bank Of Canada restated a buy rating and issued a $60.00 price target on shares of QTS Realty Trust in a research note on Friday, July 28th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of Buy and an average target price of $57.54.
Shares of QTS Realty Trust (QTS) traded up 1.10% during midday trading on Tuesday, reaching $55.96. The company had a trading volume of 114,688 shares. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 142.76 and a beta of 0.45. The company has a 50 day moving average of $53.65 and a 200 day moving average of $52.83. QTS Realty Trust has a 12-month low of $43.01 and a 12-month high of $58.79.
QTS Realty Trust (NYSE:QTS) last released its quarterly earnings results on Tuesday, October 24th. The real estate investment trust reported $0.70 EPS for the quarter, topping the consensus estimate of $0.11 by $0.59. QTS Realty Trust had a return on equity of 2.13% and a net margin of 4.67%. The business had revenue of $113.77 million during the quarter, compared to analyst estimates of $113.64 million. During the same period last year, the business posted $0.67 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. Analysts anticipate that QTS Realty Trust will post $0.46 EPS for the current year.
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The business also recently declared a quarterly dividend, which was paid on Thursday, October 5th. Investors of record on Friday, September 22nd were given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.82%. The ex-dividend date was Thursday, September 21st. QTS Realty Trust’s dividend payout ratio (DPR) is presently 380.50%.
In related news, Director Stephen E. Westhead sold 9,425 shares of QTS Realty Trust stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $54.44, for a total transaction of $513,097.00. Following the completion of the transaction, the director now directly owns 11,349 shares in the company, valued at approximately $617,839.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chad L. Williams sold 682,576 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $54.25, for a total value of $37,029,748.00. Following the sale, the chief executive officer now owns 236,526 shares of the company’s stock, valued at $12,831,535.50. The disclosure for this sale can be found here. Insiders sold a total of 732,541 shares of company stock worth $39,756,070 in the last 90 days. 17.30% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in the stock. Peregrine Capital Management LLC boosted its position in QTS Realty Trust by 3.5% during the 3rd quarter. Peregrine Capital Management LLC now owns 650,202 shares of the real estate investment trust’s stock worth $34,045,000 after purchasing an additional 22,098 shares during the period. Aperio Group LLC lifted its position in shares of QTS Realty Trust by 10.2% during the third quarter. Aperio Group LLC now owns 10,904 shares of the real estate investment trust’s stock worth $571,000 after purchasing an additional 1,008 shares during the last quarter. First Trust Advisors LP lifted its position in shares of QTS Realty Trust by 59.1% during the third quarter. First Trust Advisors LP now owns 25,380 shares of the real estate investment trust’s stock worth $1,329,000 after purchasing an additional 9,428 shares during the last quarter. APG Asset Management US Inc. bought a new position in shares of QTS Realty Trust during the third quarter worth about $32,725,000. Finally, Fisher Asset Management LLC bought a new position in shares of QTS Realty Trust during the third quarter worth about $1,130,000.
QTS Realty Trust Company Profile
QTS Realty Trust, Inc (QTS) is a provider of secure, compliant data center solutions, hybrid cloud and fully managed services. The Company owns, develops and operates carrier-neutral and multi-tenant data centers. Its data centers are facilities that house the network and computer equipment of multiple customers and provide access to a range of communications carriers.
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