QTS Realty Trust, Inc. (QTS) Expected to Post Earnings of $0.68 Per Share
Wall Street analysts expect QTS Realty Trust, Inc. (NYSE:QTS) to post earnings per share of $0.68 for the current quarter, according to Zacks. Seven analysts have issued estimates for QTS Realty Trust’s earnings, with estimates ranging from $0.66 to $0.71. QTS Realty Trust reported earnings per share of $0.12 during the same quarter last year, which would indicate a positive year over year growth rate of 466.7%. The business is scheduled to issue its next earnings report on Tuesday, October 24th.
According to Zacks, analysts expect that QTS Realty Trust will report full year earnings of $2.69 per share for the current year, with EPS estimates ranging from $2.64 to $2.76. For the next fiscal year, analysts expect that the company will post earnings of $3.07 per share, with EPS estimates ranging from $2.96 to $3.23. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow QTS Realty Trust.
QTS Realty Trust (NYSE:QTS) last issued its earnings results on Tuesday, July 25th. The real estate investment trust reported $0.63 EPS for the quarter, meeting the consensus estimate of $0.63. The company had revenue of $107.86 million during the quarter, compared to analysts’ expectations of $107.66 million. QTS Realty Trust had a net margin of 4.60% and a return on equity of 2.04%. The business’s revenue for the quarter 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.
QTS has been the topic of a number of recent research reports. Jefferies Group LLC reiterated a “buy” rating and set a $60.00 price target on shares of QTS Realty Trust in a report on Friday, June 9th. BidaskClub upgraded shares of QTS Realty Trust from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Credit Suisse Group initiated coverage on shares of QTS Realty Trust in a report on Friday, June 30th. They set a “neutral” rating and a $54.00 price target on the stock. Deutsche Bank AG reiterated a “hold” rating and set a $52.00 price target (down previously from $53.00) on shares of QTS Realty Trust in a report on Friday, August 11th. Finally, Zacks Investment Research upgraded shares of QTS Realty Trust from a “sell” rating to a “hold” rating in a report on Friday, July 28th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. QTS Realty Trust presently has a consensus rating of “Buy” and an average target price of $57.14.
Shares of QTS Realty Trust (QTS) traded down 0.19% during mid-day trading on Friday, hitting $53.79. 499,723 shares of the company’s stock traded hands. QTS Realty Trust has a 52 week low of $43.01 and a 52 week high of $56.23. The company has a market cap of $2.63 billion, a PE ratio of 137.22 and a beta of 0.47. The firm has a 50-day moving average of $53.93 and a 200 day moving average of $51.91.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 22nd will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Thursday, September 21st. QTS Realty Trust’s dividend payout ratio is presently 390.00%.
In other QTS Realty Trust news, CEO Chad L. Williams sold 682,576 shares of QTS Realty Trust stock in a transaction on Monday, August 14th. The shares were sold at an average price of $54.25, for a total value of $37,029,748.00. Following the completion of the sale, the chief executive officer now directly owns 236,526 shares of the company’s stock, valued at $12,831,535.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP William H. Schafer sold 16,260 shares of QTS Realty Trust stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $54.47, for a total transaction of $885,682.20. Following the completion of the sale, the executive vice president now directly owns 67,735 shares of the company’s stock, valued at $3,689,525.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 732,541 shares of company stock valued at $39,756,070. Insiders own 17.30% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Brookfield Asset Management Inc. increased its stake in QTS Realty Trust by 7.8% in the second 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 in the last quarter. Lord Abbett & CO. LLC bought a new stake in QTS Realty Trust in the second quarter valued at $48,171,000. Phocas Financial Corp. increased its stake in QTS Realty Trust by 3.1% in the second quarter. Phocas Financial Corp. now owns 14,007 shares of the real estate investment trust’s stock valued at $733,000 after purchasing an additional 419 shares in the last quarter. State Street Corp increased its stake in QTS Realty Trust by 6.4% in the second quarter. State Street Corp now owns 1,050,113 shares of the real estate investment trust’s stock valued at $54,953,000 after purchasing an additional 62,812 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. bought a new stake in QTS Realty Trust in the second quarter valued at $564,000.
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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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