Zacks Investment Research upgraded shares of QTS Realty Trust Inc. (NYSE:QTS) from a hold rating to a buy rating in a research note released on Wednesday. Zacks Investment Research currently has $57.00 price target 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 have also recently commented on QTS. Deutsche Bank AG boosted their price target on QTS Realty Trust from $54.00 to $56.00 and gave the stock a hold rating in a report on Monday, July 18th. Wells Fargo & Co. reissued a buy rating on shares of QTS Realty Trust in a report on Thursday, September 22nd. Raymond James Financial Inc. began coverage on QTS Realty Trust in a report on Friday, October 7th. They set an outperform rating and a $60.00 price target for the company. SunTrust Banks Inc. began coverage on QTS Realty Trust in a research report on Thursday, July 21st. They set a buy rating and a $65.00 price objective on the stock. Finally, Jefferies Group reduced their price objective on QTS Realty Trust from $65.00 to $63.00 and set a buy rating on the stock in a research report on Thursday, August 11th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. QTS Realty Trust has a consensus rating of Buy and an average target price of $56.82.
Shares of QTS Realty Trust (NYSE:QTS) opened at 52.22 on Wednesday. QTS Realty Trust has a 52-week low of $40.50 and a 52-week high of $59.41. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 100.62 and a beta of 0.35. The stock’s 50 day moving average price is $53.25 and its 200-day moving average price is $52.98.
QTS Realty Trust (NYSE:QTS) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates 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 company earned $98.70 million during the quarter, compared to analysts’ expectations of $97.03 million. During the same quarter in the previous year, the firm earned $0.53 EPS. QTS Realty Trust’s revenue was up 44.9% on a year-over-year basis. On average, analysts forecast that QTS Realty Trust will post $2.60 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 5th. Shareholders of record on Tuesday, September 20th were given a $0.36 dividend. The ex-dividend date was Friday, September 16th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.76%. QTS Realty Trust’s dividend payout ratio (DPR) is presently 288.00%.
Several large investors have recently added to or reduced their stakes in the stock. Pacad Investment Ltd. bought a new stake in QTS Realty Trust during the first quarter worth approximately $265,000. Teachers Advisors Inc. raised its stake in QTS Realty Trust by 6.3% in the first quarter. Teachers Advisors Inc. now owns 42,310 shares of the company’s stock worth $2,005,000 after buying an additional 2,508 shares during the period. BlackRock Inc. raised its stake in QTS Realty Trust by 9.0% in the first quarter. BlackRock Inc. now owns 38,342 shares of the company’s stock worth $1,817,000 after buying an additional 3,179 shares during the period. BlackRock Group LTD raised its stake in QTS Realty Trust by 46.5% in the first quarter. BlackRock Group LTD now owns 375,686 shares of the company’s stock worth $17,801,000 after buying an additional 119,311 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its stake in QTS Realty Trust by 5.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,243,426 shares of the company’s stock worth $58,914,000 after buying an additional 68,466 shares during the period.
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. 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.