Zacks Investment Research upgraded shares of QTS Realty Trust Inc. (NYSE:QTS) from a hold rating to a buy rating in a research report released on Wednesday. They currently have $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. “
Several other brokerages have also issued reports on QTS. Deutsche Bank AG upped their target price on 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 reaffirmed a buy rating and issued a $65.00 target price on shares of QTS Realty Trust in a research note on Wednesday, July 27th. Raymond James Financial Inc. initiated coverage on QTS Realty Trust in a research note on Friday, October 7th. They issued an outperform rating and a $60.00 target price for the company. Goldman Sachs Group Inc. initiated coverage on QTS Realty Trust in a research note on Tuesday, July 5th. They issued a neutral rating and a $57.00 target price for the company. Finally, SunTrust Banks Inc. initiated coverage on QTS Realty Trust in a research note on Thursday, July 21st. They issued a buy rating and a $65.00 target price for the company. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $56.82.
Shares of QTS Realty Trust (NYSE:QTS) opened at 52.22 on Wednesday. The company has a market cap of $2.50 billion, a price-to-earnings ratio of 100.62 and a beta of 0.35. QTS Realty Trust has a 1-year low of $40.50 and a 1-year high of $59.41. The stock has a 50 day moving average of $53.29 and a 200 day moving average of $52.86.
QTS Realty Trust (NYSE:QTS) last issued 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. The business earned $98.70 million during the quarter, compared to analyst estimates of $97.03 million. QTS Realty Trust had a return on equity of 2.88% and a net margin of 6.03%. QTS Realty Trust’s revenue for the quarter was up 44.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 earnings per share. Analysts predict that QTS Realty Trust will post $2.60 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 5th. Investors of record on Tuesday, September 20th were issued a dividend of $0.36 per share. 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 is presently 288.00%.
Several institutional investors have recently made changes to their positions in QTS. BNP Paribas Arbitrage SA acquired a new position in shares of QTS Realty Trust during the second quarter worth approximately $117,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of QTS Realty Trust by 21.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,090 shares of the company’s stock worth $117,000 after buying an additional 374 shares in the last quarter. BlackRock Japan Co. Ltd increased its position in shares of QTS Realty Trust by 19.1% in the second quarter. BlackRock Japan Co. Ltd now owns 2,424 shares of the company’s stock worth $136,000 after buying an additional 388 shares in the last quarter. Societe Generale acquired a new position in shares of QTS Realty Trust during the second quarter worth approximately $181,000. Finally, Denver Investment Advisors LLC acquired a new position in shares of QTS Realty Trust during the second quarter worth approximately $201,000.
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. 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for QTS Realty Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QTS Realty Trust Inc. and related companies with MarketBeat.com's FREE daily email newsletter.