QTS Realty Trust Inc. (QTS) Shares Gap Up to $53.86
QTS Realty Trust Inc. (NYSE:QTS) gapped up prior to trading on Monday . The stock had previously closed at $53.82, but opened at $53.86. QTS Realty Trust shares last traded at $54.41, with a volume of 73,073 shares changing hands.
A number of equities research analysts recently issued reports on QTS shares. Canaccord Genuity started coverage on shares of QTS Realty Trust in a report on Monday, June 6th. They issued a “buy” rating and a $63.00 target price for the company. Zacks Investment Research downgraded shares of QTS Realty Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, July 19th. Stifel Nicolaus downgraded shares of QTS Realty Trust from a “buy” rating to a “hold” rating and set a $53.00 price objective for the company. in a research note on Tuesday, May 10th. Jefferies Group reiterated a “buy” rating and set a $59.00 price objective on shares of QTS Realty Trust in a research note on Wednesday, July 6th. Finally, Goldman Sachs Group Inc. initiated coverage on shares of QTS Realty Trust in a research note on Tuesday, July 5th. They set a “neutral” rating and a $57.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $56.44.
The firm’s 50-day moving average is $55.23 and its 200 day moving average is $50.64. The stock has a market capitalization of $2.61 billion and a price-to-earnings ratio of 105.32.
QTS Realty Trust (NYSE:QTS) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. The company earned $98.70 million during the quarter, compared to analysts’ expectations of $97.03 million. QTS Realty Trust’s revenue for the quarter was up 44.9% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. Analysts anticipate that QTS Realty Trust Inc. will post $2.59 EPS for the current fiscal year.
The business 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 2.63%. The ex-dividend date is Friday, September 16th.
In other news, insider Shirley E. Goza sold 18,587 shares of the stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $54.38, for a total value of $1,010,761.06. Following the completion of the sale, the insider now directly owns 26,794 shares of the company’s stock, valued at $1,457,057.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John W. Barter sold 10,533 shares of the stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $54.52, for a total transaction of $574,259.16. Following the completion of the sale, the director now directly owns 10,420 shares of the company’s stock, valued at $568,098.40. The disclosure for this sale can be found here.
A number of institutional investors have modified their holdings of QTS. Morgan Stanley raised its position 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. State of New Jersey Common Pension Fund D acquired a new position in shares of QTS Realty Trust during the fourth quarter valued at $1,692,000. Rhumbline Advisers raised its position in shares of QTS Realty Trust by 9.0% in the fourth quarter. Rhumbline Advisers now owns 28,598 shares of the company’s stock valued at $1,290,000 after buying an additional 2,360 shares during the last quarter. Finally, I.G. Investment Management LTD. raised its position 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.
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.