Westpac Banking Corp bought a new stake in QTS Realty Trust Inc (NYSE:QTS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 71,050 shares of the real estate investment trust’s stock, valued at approximately $3,281,000. Westpac Banking Corp owned 0.13% of QTS Realty Trust as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Westfield Capital Management Co. LP increased its stake in shares of QTS Realty Trust by 9.5% in the 1st quarter. Westfield Capital Management Co. LP now owns 946,345 shares of the real estate investment trust’s stock valued at $42,576,000 after buying an additional 81,820 shares during the period. Jennison Associates LLC increased its stake in shares of QTS Realty Trust by 93.3% in the 1st quarter. Jennison Associates LLC now owns 791,227 shares of the real estate investment trust’s stock valued at $35,597,000 after buying an additional 381,819 shares during the period. Norges Bank acquired a new stake in shares of QTS Realty Trust in the 4th quarter valued at $23,068,000. Public Employees Retirement Association of Colorado increased its stake in shares of QTS Realty Trust by 12.6% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 480,188 shares of the real estate investment trust’s stock valued at $22,175,000 after buying an additional 53,591 shares during the period. Finally, Copeland Capital Management LLC increased its stake in shares of QTS Realty Trust by 20.3% in the 2nd quarter. Copeland Capital Management LLC now owns 463,606 shares of the real estate investment trust’s stock valued at $21,409,000 after buying an additional 78,363 shares during the period.
In related news, Director Wayne M. Rehberger purchased 1,100 shares of QTS Realty Trust stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $45.50 per share, for a total transaction of $50,050.00. Following the transaction, the director now directly owns 3,046 shares of the company’s stock, valued at $138,593. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Chad L. Williams purchased 7,230 shares of QTS Realty Trust stock in a transaction dated Thursday, May 30th. The stock was bought at an average price of $45.88 per share, for a total transaction of $331,712.40. Following the completion of the transaction, the chief executive officer now directly owns 397,787 shares in the company, valued at $18,250,467.56. The disclosure for this purchase can be found here. 13.40% of the stock is owned by company insiders.
QTS Realty Trust (NYSE:QTS) last posted its quarterly earnings results on Monday, July 29th. The real estate investment trust reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.58). QTS Realty Trust had a return on equity of 2.95% and a net margin of 6.19%. The company had revenue of $119.17 million during the quarter, compared to the consensus estimate of $114.53 million. During the same quarter in the prior year, the business earned $0.64 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities research analysts expect that QTS Realty Trust Inc will post 2.28 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Thursday, September 19th will be given a $0.44 dividend. The ex-dividend date is Wednesday, September 18th. This represents a $1.76 annualized dividend and a dividend yield of 3.62%. QTS Realty Trust’s dividend payout ratio is currently 67.69%.
QTS has been the subject of several research reports. ValuEngine raised QTS Realty Trust from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. BMO Capital Markets reissued a “buy” rating and issued a $49.00 target price on shares of QTS Realty Trust in a research note on Wednesday, July 31st. Zacks Investment Research cut QTS Realty Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Credit Suisse Group lifted their target price on QTS Realty Trust from $44.00 to $46.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $52.00 target price on shares of QTS Realty Trust in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $49.57.
About QTS Realty Trust
QTS Realty Trust, Inc (NYSE: QTS) is a leading provider of data center solutions across a diverse footprint spanning more than 6 million square feet of owned mega scale data center space throughout North America. Through its software-defined technology platform, QTS is able to deliver secure, compliant infrastructure solutions, robust connectivity and premium customer service to leading hyperscale technology companies, enterprises, and government entities.
Further Reading: Equity Income
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