QTS Realty Trust Inc. (QTS) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of QTS Realty Trust Inc. (NYSE:QTS) from a hold rating to a buy rating in a research report report published on Wednesday morning. The brokerage currently has $57.00 price objective on the 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. “
A number of other equities analysts also recently commented on the company. Jefferies Group reiterated a buy rating and issued a $65.00 price target on shares of QTS Realty Trust in a research note on Wednesday, July 27th. Goldman Sachs Group Inc. initiated coverage on QTS Realty Trust in a research note on Tuesday, July 5th. They issued a neutral rating and a $57.00 price target for the company. SunTrust Banks Inc. initiated coverage on QTS Realty Trust in a research note on Thursday, July 21st. They issued a buy rating and a $65.00 price target for the company. Wells Fargo & Co. reiterated a buy rating on shares of QTS Realty Trust in a research note on Thursday, September 22nd. Finally, Raymond James Financial Inc. initiated coverage on QTS Realty Trust in a research note on Friday, October 7th. They issued an outperform rating and a $60.00 price target for the company. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. QTS Realty Trust currently has an average rating of Buy and an average price target of $56.82.
QTS Realty Trust (NYSE:QTS) opened at 52.26 on Wednesday. QTS Realty Trust has a 52 week low of $40.50 and a 52 week high of $59.41. The stock has a market capitalization of $2.50 billion, a P/E ratio of 100.69 and a beta of 0.34. The stock’s 50 day moving average price is $53.37 and its 200-day moving average price is $52.82.
QTS Realty Trust (NYSE:QTS) last announced its earnings results on Tuesday, July 26th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.03. QTS Realty Trust had a return on equity of 2.88% and a net margin of 6.03%. The business had revenue of $98.70 million for the quarter, compared to analyst estimates of $97.03 million. During the same period in the previous year, the company earned $0.53 earnings per share. The company’s revenue for the quarter was up 44.9% compared to the same quarter last year. Equities research analysts expect that QTS Realty Trust will post $2.60 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 5th. Stockholders of record on Tuesday, September 20th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, September 16th. This represents a $1.44 annualized dividend and a dividend yield of 2.76%. QTS Realty Trust’s dividend payout ratio is presently 288.00%.
Several institutional investors have recently modified their holdings of QTS. Granahan Investment Management Inc. MA increased its position in shares of QTS Realty Trust by 11.9% in the first quarter. Granahan Investment Management Inc. MA now owns 316,875 shares of the company’s stock valued at $15,014,000 after buying an additional 33,800 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of QTS Realty Trust by 40.4% in the first quarter. Goldman Sachs Group Inc. now owns 102,453 shares of the company’s stock valued at $4,854,000 after buying an additional 29,483 shares in the last quarter. Forward Management LLC increased its position in shares of QTS Realty Trust by 330.3% in the first quarter. Forward Management LLC now owns 24,883 shares of the company’s stock valued at $1,179,000 after buying an additional 19,100 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of QTS Realty Trust during the first quarter valued at about $646,000. Finally, UBS Asset Management Americas Inc. increased its position in shares of QTS Realty Trust by 13.8% in the first quarter. UBS Asset Management Americas Inc. now owns 149,369 shares of the company’s stock valued at $7,077,000 after buying an additional 18,110 shares in the last quarter.
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. 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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