QTS Realty Trust Inc. (NYSE:QTS)’s share price dropped 2.8% during mid-day trading on Tuesday . The company traded as low as $52.83 and last traded at $52.97, with a volume of 95,688 shares changing hands. The stock had previously closed at $54.52.

QTS has been the subject of a number of recent analyst reports. Canaccord Genuity initiated coverage on QTS Realty Trust in a report on Monday, June 6th. They set a “buy” rating and a $63.00 price objective for the company. Jefferies Group restated a “buy” rating and set a $59.00 price objective on shares of QTS Realty Trust in a report on Wednesday, July 6th. SunTrust Banks Inc. initiated coverage on QTS Realty Trust in a report on Thursday, July 21st. They set a “buy” rating and a $65.00 price objective for the company. Zacks Investment Research upgraded QTS Realty Trust from a “sell” rating to a “hold” rating in a report on Friday, July 29th. Finally, Deutsche Bank AG upped their target price on QTS Realty Trust from $54.00 to $56.00 and gave the stock a “hold” rating in a report on Monday, July 18th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $56.44.

The firm has a market cap of $2.53 billion and a P/E ratio of 101.97. The stock’s 50-day moving average is $55.40 and its 200 day moving average is $50.42.

QTS Realty Trust (NYSE:QTS) last posted its earnings results on Tuesday, July 26th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.03. The business had revenue of $98.70 million for the quarter, compared to analyst estimates of $97.03 million. During the same period last year, the business earned $0.53 EPS. QTS Realty Trust’s revenue was up 44.9% compared to the same quarter last year. On average, equities research analysts predict that QTS Realty Trust Inc. will post $2.59 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Tuesday, September 20th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, September 16th. This represents a $1.44 annualized dividend and a dividend yield of 2.72%.

In related news, insider Daniel T. Bennewitz sold 9,150 shares of QTS Realty Trust stock in a transaction on Friday, June 17th. The stock was sold at an average price of $54.00, for a total value of $494,100.00. Following the completion of the transaction, the insider now directly owns 59,866 shares in the company, valued at $3,232,764. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CIO Jeffrey H. Berson sold 6,505 shares of QTS Realty Trust stock in a transaction on Friday, June 10th. The shares were sold at an average price of $53.97, for a total value of $351,074.85. Following the completion of the transaction, the executive now owns 56,076 shares of the company’s stock, valued at $3,026,421.72. The disclosure for this sale can be found here.

Other hedge funds and institutional investors recently added to or reduced their stakes in the company. Rhumbline Advisers raised its position in QTS Realty Trust by 9.0% in the fourth quarter. Rhumbline Advisers now owns 28,598 shares of the company’s stock worth $1,290,000 after buying an additional 2,360 shares during the period. New York State Common Retirement Fund raised its position in QTS Realty Trust by 34.2% in the fourth quarter. New York State Common Retirement Fund now owns 30,867 shares of the company’s stock worth $1,392,000 after buying an additional 7,867 shares during the period. State of New Jersey Common Pension Fund D bought a new position in QTS Realty Trust during the fourth quarter worth about $1,692,000. I.G. Investment Management LTD. raised its position in QTS Realty Trust by 1.0% in the fourth quarter. I.G. Investment Management LTD. now owns 43,304 shares of the company’s stock worth $1,953,000 after buying an additional 431 shares during the period. Finally, Morgan Stanley raised its position in QTS Realty Trust by 620.1% in the fourth quarter. Morgan Stanley now owns 505,179 shares of the company’s stock worth $22,789,000 after buying an additional 435,026 shares during the period.

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. It operates through a portfolio of investments in over 20 data centers located primarily in the United States with others in Canada, Europe and the Asia-Pacific region.

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