QTS Realty Trust Inc. (QTS) Shares Down 2.8%
QTS Realty Trust Inc. (NYSE:QTS) shares were down 2.8% during trading on Tuesday . The company traded as low as $52.83 and last traded at $52.97, with a volume of 95,688 shares trading hands. The stock had previously closed at $54.52.
A number of research analysts have commented on QTS shares. Deutsche Bank AG increased their price objective on shares of QTS Realty Trust from $54.00 to $56.00 and gave the company a “hold” rating in a research note on Monday, July 18th. Canaccord Genuity started coverage on shares of QTS Realty Trust in a research note on Monday, June 6th. They set a “buy” rating and a $63.00 price objective on the stock. Jefferies Group reiterated a “buy” rating and set a $65.00 price objective on shares of QTS Realty Trust in a research note on Wednesday, July 27th. Goldman Sachs Group Inc. started coverage on shares of QTS Realty Trust in a report on Tuesday, July 5th. They set a “neutral” rating and a $57.00 target price on the stock. Finally, Wells Fargo & Co. started coverage on shares of QTS Realty Trust in a report on Tuesday, May 31st. They set an “outperform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $56.44.
The firm has a 50 day moving average price of $55.37 and a 200-day moving average price of $50.48. The stock has a market cap of $2.57 billion and a price-to-earnings ratio of 103.35.
QTS Realty Trust (NYSE:QTS) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.03. During the same period in the prior year, the business earned $0.53 EPS. The firm earned $98.70 million during the quarter, compared to the consensus estimate of $97.03 million. The company’s revenue for the quarter was up 44.9% compared to the same quarter last year. Equities analysts expect that QTS Realty Trust Inc. will post $2.59 earnings per share for the current 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 $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, September 16th.
In other news, insider Daniel T. Bennewitz sold 9,150 shares of the firm’s stock in a transaction on Friday, June 17th. The shares were sold at an average price of $54.00, for a total value of $494,100.00. Following the sale, the insider now owns 59,866 shares in the company, valued at $3,232,764. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John W. Barter sold 28,568 shares of the firm’s stock in a transaction on Tuesday, June 14th. The stock was sold at an average price of $54.29, for a total transaction of $1,550,956.72. Following the completion of the sale, the director now owns 12,204 shares in the company, valued at approximately $662,555.16. The disclosure for this sale can be found here.
Several large investors recently made changes to their positions in the company. Jennison Associates LLC increased its stake in shares of QTS Realty Trust by 33.4% in the fourth quarter. Jennison Associates LLC now owns 2,632,976 shares of the company’s stock valued at $118,774,000 after buying an additional 658,575 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of QTS Realty Trust by 20.5% in the fourth quarter. Wells Fargo & Company MN now owns 672,049 shares of the company’s stock valued at $30,316,000 after buying an additional 114,457 shares during the last quarter. Morgan Stanley increased its stake in shares of QTS Realty Trust by 620.1% in the fourth quarter. Morgan Stanley now owns 505,179 shares of the company’s stock valued at $22,789,000 after buying an additional 435,026 shares during the last quarter. I.G. Investment Management LTD. increased its stake in shares of 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 valued at $1,953,000 after buying an additional 431 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D bought a new stake in shares of QTS Realty Trust during the fourth quarter valued at about $1,692,000.
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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