Credit Suisse Group set a $55.00 price objective on QTS Realty Trust (NYSE:QTS) in a research report report published on Tuesday, November 14th. The brokerage currently has a hold rating on the real estate investment trust’s stock.
QTS has been the topic of a number of other research reports. Deutsche Bank reaffirmed a hold rating and set a $52.00 price objective (down previously from $53.00) on shares of QTS Realty Trust in a report on Friday, August 11th. SunTrust Banks upped their price objective on QTS Realty Trust from $62.00 to $64.00 and gave the stock a buy rating in a report on Thursday, October 26th. Zacks Investment Research lowered QTS Realty Trust from a buy rating to a hold rating in a report on Saturday, October 28th. TheStreet raised QTS Realty Trust from a c rating to a b- rating in a report on Tuesday, October 24th. Finally, Morgan Stanley reaffirmed an equal weight rating and set a $58.00 price objective (up previously from $53.00) on shares of QTS Realty Trust in a report on Friday, August 25th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $59.00.
QTS Realty Trust (NYSE:QTS) traded down $0.05 during trading hours on Tuesday, hitting $55.60. The stock had a trading volume of 465,044 shares, compared to its average volume of 528,526. The firm has a market capitalization of $2,796.68, a price-to-earnings ratio of 21.30, a P/E/G ratio of 1.07 and a beta of 0.44. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.84 and a current ratio of 0.84. QTS Realty Trust has a 1-year low of $45.85 and a 1-year high of $61.55.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Tuesday, December 5th will be given a $0.39 dividend. The ex-dividend date is Monday, December 4th. This represents a $1.56 annualized dividend and a dividend yield of 2.81%. QTS Realty Trust’s dividend payout ratio is currently 380.50%.
In related news, insider Daniel T. Bennewitz sold 9,144 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $57.46, for a total transaction of $525,414.24. Following the transaction, the insider now directly owns 58,624 shares in the company, valued at $3,368,535.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO James H. Reinhart sold 3,545 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $55.22, for a total value of $195,754.90. Following the transaction, the chief operating officer now owns 74,837 shares in the company, valued at $4,132,499.14. The disclosure for this sale can be found here. Insiders sold 28,246 shares of company stock worth $1,627,938 over the last 90 days. Company insiders own 17.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QTS. BlackRock Inc. lifted its position in QTS Realty Trust by 6,140.3% during the first quarter. BlackRock Inc. now owns 4,053,598 shares of the real estate investment trust’s stock worth $197,612,000 after buying an additional 3,988,640 shares during the period. Lord Abbett & CO. LLC acquired a new stake in QTS Realty Trust during the second quarter worth about $48,171,000. Prudential Financial Inc. increased its stake in QTS Realty Trust by 15,615.8% during the second quarter. Prudential Financial Inc. now owns 666,350 shares of the real estate investment trust’s stock worth $34,870,000 after acquiring an additional 662,110 shares during the last quarter. APG Asset Management US Inc. acquired a new stake in QTS Realty Trust during the third quarter worth about $32,725,000. Finally, PGGM Investments acquired a new stake in QTS Realty Trust during the third quarter worth about $21,991,000.
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About QTS Realty Trust
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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