American International Group Inc. Grows Stake in QTS Realty Trust, Inc. (QTS)
American International Group Inc. increased its stake in shares of QTS Realty Trust, Inc. (NYSE:QTS) by 8.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,505 shares of the real estate investment trust’s stock after purchasing an additional 2,356 shares during the period. American International Group Inc. owned approximately 0.06% of QTS Realty Trust worth $1,650,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of QTS Realty Trust by 15.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,399 shares of the real estate investment trust’s stock valued at $178,000 after purchasing an additional 453 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of QTS Realty Trust during the second quarter valued at approximately $200,000. PNC Financial Services Group Inc. raised its holdings in shares of QTS Realty Trust by 4,127.7% during the second quarter. PNC Financial Services Group Inc. now owns 3,974 shares of the real estate investment trust’s stock valued at $209,000 after purchasing an additional 3,880 shares during the last quarter. Harbor Advisors LLC purchased a new position in shares of QTS Realty Trust during the second quarter valued at approximately $209,000. Finally, GAM Holding AG raised its holdings in shares of QTS Realty Trust by 5.2% during the second quarter. GAM Holding AG now owns 4,014 shares of the real estate investment trust’s stock valued at $210,000 after purchasing an additional 200 shares during the last quarter.
Shares of QTS Realty Trust, Inc. (NYSE QTS) traded down $0.17 during mid-day trading on Wednesday, reaching $54.84. 351,200 shares of the company’s stock were exchanged, compared to its average volume of 444,656. QTS Realty Trust, Inc. has a twelve month low of $46.32 and a twelve month high of $61.55. The stock has a market capitalization of $2,767.01, a PE ratio of 21.08, a P/E/G ratio of 1.06 and a beta of 0.44. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.09.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Tuesday, December 5th will be issued a dividend of $0.39 per share. The ex-dividend date is Monday, December 4th. This represents a $1.56 dividend on an annualized basis and a yield of 2.84%. QTS Realty Trust’s dividend payout ratio is currently 380.50%.
QTS has been the subject of several research reports. BidaskClub raised shares of QTS Realty Trust from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. Morgan Stanley reissued an “equal weight” rating and set a $58.00 price objective (up from $53.00) on shares of QTS Realty Trust in a report on Friday, August 25th. Royal Bank of Canada reissued a “buy” rating and set a $60.00 price objective on shares of QTS Realty Trust in a report on Wednesday, September 6th. Zacks Investment Research raised shares of QTS Realty Trust from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Tuesday, October 17th. Finally, TheStreet raised shares of QTS Realty Trust from a “c” rating to a “b-” rating in a report on Tuesday, October 24th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $59.00.
In other news, COO James H. Reinhart sold 4,050 shares of the stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $58.42, for a total value of $236,601.00. Following the completion of the sale, the chief operating officer now directly owns 65,595 shares of the company’s stock, valued at $3,832,059.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Daniel T. Bennewitz sold 9,144 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $57.46, for a total transaction of $525,414.24. Following the completion of the sale, the insider now directly owns 58,624 shares of the company’s stock, valued at $3,368,535.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,201 shares of company stock valued at $2,112,933. 17.30% of the stock is owned by corporate insiders.
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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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