QTS Realty Trust’s (QTS) “Buy” Rating Reiterated at Royal Bank Of Canada
Royal Bank Of Canada restated their buy rating on shares of QTS Realty Trust, Inc. (NYSE:QTS) in a research note issued to investors on Wednesday morning. The firm currently has a $60.00 price target on the real estate investment trust’s stock.
A number of other brokerages have also weighed in on QTS. BidaskClub upgraded QTS Realty Trust from a sell rating to a hold rating in a research report on Monday, July 24th. Morgan Stanley restated an equal weight rating and set a $58.00 price objective (up previously from $53.00) on shares of QTS Realty Trust in a research report on Friday, August 25th. TheStreet lowered QTS Realty Trust from a b- rating to a c rating in a research report on Tuesday, July 25th. Deutsche Bank AG restated a hold rating and set a $52.00 price objective (down previously from $53.00) on shares of QTS Realty Trust in a research report on Friday, August 11th. Finally, Jefferies Group LLC restated a buy rating and set a $60.00 price objective on shares of QTS Realty Trust in a research report on Friday, June 9th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $57.14.
Shares of QTS Realty Trust (NYSE:QTS) traded up 0.20% during mid-day trading on Wednesday, hitting $54.98. The stock had a trading volume of 170,511 shares. QTS Realty Trust has a 52 week low of $43.01 and a 52 week high of $55.57. The firm has a market cap of $2.68 billion, a PE ratio of 140.26 and a beta of 0.47. The stock has a 50 day moving average price of $53.82 and a 200 day moving average price of $51.81.
QTS Realty Trust (NYSE:QTS) last issued its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.63 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.63. The business had revenue of $107.86 million for the quarter, compared to analyst estimates of $107.66 million. QTS Realty Trust had a return on equity of 2.04% and a net margin of 4.60%. QTS Realty Trust’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS. Equities research analysts expect that QTS Realty Trust will post $0.45 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Friday, September 22nd will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Thursday, September 21st. QTS Realty Trust’s payout ratio is presently 390.00%.
In other news, CEO Chad L. Williams sold 682,576 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 236,526 shares of the company’s stock, valued at approximately $12,831,535.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP William H. Schafer sold 16,260 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $54.47, for a total value of $885,682.20. Following the completion of the transaction, the executive vice president now directly owns 67,735 shares in the company, valued at $3,689,525.45. The disclosure for this sale can be found here. Insiders sold a total of 738,996 shares of company stock worth $40,091,116 over the last three months. 17.30% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of QTS Realty Trust by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 7,041,576 shares of the real estate investment trust’s stock valued at $368,486,000 after purchasing an additional 30,800 shares during the period. BlackRock Inc. lifted its stake in shares of QTS Realty Trust by 3.6% in the 2nd quarter. BlackRock Inc. now owns 4,198,833 shares of the real estate investment trust’s stock valued at $219,723,000 after purchasing an additional 145,235 shares during the period. Morgan Stanley lifted its stake in shares of QTS Realty Trust by 12.3% in the 1st quarter. Morgan Stanley now owns 1,907,080 shares of the real estate investment trust’s stock valued at $92,970,000 after purchasing an additional 208,318 shares during the period. Brookfield Asset Management Inc. lifted its stake in shares of QTS Realty Trust by 7.8% in the 2nd quarter. Brookfield Asset Management Inc. now owns 1,672,745 shares of the real estate investment trust’s stock valued at $87,535,000 after purchasing an additional 120,695 shares during the period. Finally, Voya Investment Management LLC lifted its stake in shares of QTS Realty Trust by 7.1% in the 2nd quarter. Voya Investment Management LLC now owns 1,206,826 shares of the real estate investment trust’s stock valued at $63,153,000 after purchasing an additional 79,518 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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