QTS Realty Trust Inc. (QTS) Upgraded to Buy by Zacks Investment Research
QTS Realty Trust Inc. (NYSE:QTS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage currently has a $57.00 price target on the stock. Zacks Investment Research’s price objective points to a potential upside of 11.57% from the stock’s previous close.
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. “
Several other research firms have also issued reports on QTS. Deutsche Bank AG upped their target price on shares of QTS Realty Trust from $54.00 to $56.00 and gave the stock a “hold” rating in a research note on Monday, July 18th. Jefferies Group reissued a “buy” rating and issued a $65.00 price target on shares of QTS Realty Trust in a report on Wednesday, July 27th. Raymond James Financial Inc. began coverage on shares of QTS Realty Trust in a report on Friday, October 7th. They issued an “outperform” rating and a $60.00 price target on the stock. Goldman Sachs Group Inc. began coverage on shares of QTS Realty Trust in a report on Tuesday, July 5th. They issued a “neutral” rating and a $57.00 price target on the stock. Finally, SunTrust Banks Inc. began coverage on shares of QTS Realty Trust in a report on Thursday, July 21st. They issued a “buy” rating and a $65.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. QTS Realty Trust has a consensus rating of “Buy” and an average target price of $56.82.
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Shares of QTS Realty Trust (NYSE:QTS) opened at 51.09 on Wednesday. QTS Realty Trust has a 52-week low of $40.50 and a 52-week high of $59.41. The company’s 50-day moving average is $53.41 and its 200 day moving average is $52.83. The company has a market cap of $2.44 billion, a PE ratio of 98.44 and a beta of 0.34.
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 Thomson Reuters’ consensus estimate of $0.60 by $0.03. QTS Realty Trust had a net margin of 6.03% and a return on equity of 2.88%. The firm earned $98.70 million during the quarter, compared to analyst estimates of $97.03 million. During the same quarter in the prior year, the business posted $0.53 EPS. The business’s revenue was up 44.9% compared to the same quarter last year. On average, analysts anticipate that QTS Realty Trust will post $2.60 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 5th. Stockholders of record on Tuesday, September 20th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date was Friday, September 16th. QTS Realty Trust’s payout ratio is 288.00%.
Large investors have recently made changes to their positions in the company. Silvercrest Asset Management Group LLC increased its stake in shares of QTS Realty Trust by 7.2% in the first quarter. Silvercrest Asset Management Group LLC now owns 1,013,572 shares of the company’s stock worth $48,023,000 after buying an additional 68,334 shares during the last quarter. Emerald Advisers Inc. PA increased its stake in shares of QTS Realty Trust by 32.8% in the second quarter. Emerald Advisers Inc. PA now owns 470,485 shares of the company’s stock worth $26,338,000 after buying an additional 116,306 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of QTS Realty Trust by 36.3% in the first quarter. Renaissance Technologies LLC now owns 568,900 shares of the company’s stock worth $26,954,000 after buying an additional 151,600 shares during the last quarter. Boothbay Fund Management LLC increased its stake in shares of QTS Realty Trust by 94.3% in the first quarter. Boothbay Fund Management LLC now owns 26,359 shares of the company’s stock worth $1,249,000 after buying an additional 12,790 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of 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 last quarter.
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.
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