Zacks Investment Research upgraded shares of QTS Realty Trust, Inc. (NYSE:QTS) from a hold rating to a buy rating in a research note issued to investors on Tuesday, October 17th. They currently have $60.00 price target 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. “
Other research analysts also recently issued research reports about the stock. BidaskClub upgraded shares of QTS Realty Trust from a hold rating to a buy rating in a research report on Tuesday, June 27th. Royal Bank Of Canada reiterated a buy rating and issued a $60.00 price target on shares of QTS Realty Trust in a research report on Wednesday, September 6th. TheStreet downgraded shares of QTS Realty Trust from a b- rating to a c rating in a research report on Tuesday, July 25th. Morgan Stanley restated an equal weight rating and set a $58.00 price objective (up from $53.00) on shares of QTS Realty Trust in a research report on Friday, August 25th. Finally, Deutsche Bank AG reaffirmed a hold rating and set a $52.00 target price (down from $53.00) on shares of QTS Realty Trust in a research note on Friday, August 11th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $57.85.
Shares of QTS Realty Trust (NYSE QTS) traded up $0.95 during trading hours on Tuesday, hitting $59.61. 88,154 shares of the stock traded hands, compared to its average volume of 472,778. QTS Realty Trust has a 52-week low of $43.95 and a 52-week high of $59.48. The company has a market capitalization of $2,960.00, a P/E ratio of 22.48, a price-to-earnings-growth ratio of 1.01 and a beta of 0.48. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.11.
QTS Realty Trust (NYSE:QTS) last posted its quarterly earnings results on Tuesday, October 24th. The real estate investment trust reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.59. The firm had revenue of $113.77 million for the quarter, compared to analysts’ expectations of $113.64 million. QTS Realty Trust had a net margin of 4.67% and a return on equity of 2.13%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.67 earnings per share. equities research analysts expect that QTS Realty Trust will post 2.7 earnings per share for the current fiscal year.
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In related news, CFO Jeffrey H. Berson sold 18,235 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $54.61, for a total value of $995,813.35. Following the sale, the chief financial officer now owns 51,751 shares of the company’s stock, valued at $2,826,122.11. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Chad L. Williams sold 682,576 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $54.25, for a total transaction of $37,029,748.00. Following the transaction, the chief executive officer now owns 236,526 shares in the company, valued at $12,831,535.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 732,541 shares of company stock valued at $39,756,070. 17.30% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of the stock. Sei Investments Co. grew its position in QTS Realty Trust by 9.5% in the 3rd quarter. Sei Investments Co. now owns 77,188 shares of the real estate investment trust’s stock valued at $4,042,000 after buying an additional 6,709 shares during the last quarter. FDx Advisors Inc. acquired a new position in QTS Realty Trust in the 3rd quarter valued at about $354,000. Jennison Associates LLC raised its stake in QTS Realty Trust by 39.7% in the 3rd quarter. Jennison Associates LLC now owns 1,223,816 shares of the real estate investment trust’s stock valued at $64,079,000 after purchasing an additional 347,554 shares during the last quarter. Prudential Financial Inc. raised its stake in QTS Realty Trust by 8.0% in the 3rd quarter. Prudential Financial Inc. now owns 719,528 shares of the real estate investment trust’s stock valued at $37,675,000 after purchasing an additional 53,178 shares during the last quarter. Finally, IndexIQ Advisors LLC grew its holdings in QTS Realty Trust by 3.4% in the 3rd quarter. IndexIQ Advisors LLC now owns 51,147 shares of the real estate investment trust’s stock valued at $2,678,000 after buying an additional 1,704 shares during the period.
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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