QTS Realty Trust, Inc. (QTS) Receives “Buy” Rating from Royal Bank Of Canada
QTS Realty Trust, Inc. (NYSE:QTS)‘s stock had its “buy” rating reissued by investment analysts at Royal Bank Of Canada in a note issued to investors on Wednesday. They presently have a $60.00 target price on the real estate investment trust’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 9.13% from the stock’s current price.
Several other research analysts also recently issued reports on QTS. BidaskClub raised QTS Realty Trust from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. Deutsche Bank AG reaffirmed a “hold” rating and set a $52.00 price objective (down previously from $53.00) on shares of QTS Realty Trust in a report on Friday, August 11th. Jefferies Group LLC reaffirmed a “buy” rating and set a $60.00 price objective on shares of QTS Realty Trust in a report on Friday, June 9th. Morgan Stanley reaffirmed an “equal weight” rating and set a $58.00 price objective (up previously from $53.00) on shares of QTS Realty Trust in a report on Friday, August 25th. Finally, Zacks Investment Research raised QTS Realty Trust from a “sell” rating to a “hold” rating in a report on Friday, July 28th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. QTS Realty Trust presently has a consensus rating of “Buy” and a consensus price target of $57.14.
QTS Realty Trust (QTS) traded up 0.20% during mid-day trading on Wednesday, hitting $54.98. The stock had a trading volume of 170,511 shares. The firm has a market cap of $2.68 billion, a P/E ratio of 140.97 and a beta of 0.47. The stock has a 50 day moving average of $53.82 and a 200-day moving average of $51.81. QTS Realty Trust has a 1-year low of $43.01 and a 1-year high of $55.57.
QTS Realty Trust (NYSE:QTS) last posted its quarterly earnings data on Tuesday, July 25th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.63. QTS Realty Trust had a return on equity of 2.04% and a net margin of 4.60%. The firm had revenue of $107.86 million for the quarter, compared to the consensus estimate of $107.66 million. During the same quarter in the prior year, the business earned $0.63 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. Analysts predict that QTS Realty Trust will post $0.45 EPS for the current fiscal year.
In related news, insider Jon D. Greaves sold 2,500 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $54.39, for a total value of $135,975.00. Following the completion of the sale, the insider now owns 24,717 shares in the company, valued at approximately $1,344,357.63. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Chad L. Williams sold 682,576 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $54.25, for a total transaction of $37,029,748.00. Following the completion of the sale, the chief executive officer now owns 236,526 shares of the company’s stock, valued at approximately $12,831,535.50. The disclosure for this sale can be found here. In the last three months, insiders sold 738,996 shares of company stock worth $40,091,116. 17.30% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brookfield Asset Management Inc. increased its position in shares of QTS Realty Trust by 7.8% in the 2nd quarter. Brookfield Asset Management Inc. now owns 1,672,745 shares of the real estate investment trust’s stock valued at $87,535,000 after buying an additional 120,695 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in shares of QTS Realty Trust in the 2nd quarter valued at $48,171,000. Phocas Financial Corp. increased its position in shares of QTS Realty Trust by 3.1% in the 2nd quarter. Phocas Financial Corp. now owns 14,007 shares of the real estate investment trust’s stock valued at $733,000 after buying an additional 419 shares in the last quarter. State Street Corp increased its position in shares of QTS Realty Trust by 6.4% in the 2nd quarter. State Street Corp now owns 1,050,113 shares of the real estate investment trust’s stock valued at $54,953,000 after buying an additional 62,812 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. bought a new stake in shares of QTS Realty Trust in the 2nd quarter valued at $564,000.
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. Its data centers are facilities that house the network and computer equipment of multiple customers and provide access to a range of communications carriers.
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