QTS Realty Trust (NYSE:QTS) Raised to Outperform at Raymond James

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Raymond James upgraded shares of QTS Realty Trust (NYSE:QTS) from a market perform rating to an outperform rating in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. They currently have $74.00 price target on the real estate investment trust’s stock.

Several other brokerages also recently issued reports on QTS. Wells Fargo & Co upped their price target on shares of QTS Realty Trust from $72.00 to $74.00 and gave the stock an overweight rating in a research report on Friday, July 10th. Morgan Stanley upped their price target on shares of QTS Realty Trust from $58.00 to $74.00 and gave the stock an overweight rating in a research report on Wednesday, June 3rd. SunTrust Banks upped their price target on shares of QTS Realty Trust from $70.00 to $74.00 and gave the stock a buy rating in a research report on Wednesday, April 29th. Deutsche Bank assumed coverage on shares of QTS Realty Trust in a research report on Friday, June 5th. They set a hold rating and a $69.00 price target on the stock. Finally, KeyCorp upped their price target on shares of QTS Realty Trust from $65.00 to $70.00 and gave the stock an overweight rating in a research report on Thursday, July 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $69.41.

Shares of NYSE:QTS opened at $71.95 on Wednesday. QTS Realty Trust has a 52 week low of $42.64 and a 52 week high of $72.11. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.39 and a current ratio of 1.38. The company’s fifty day moving average is $65.13 and its 200-day moving average is $60.64. The company has a market capitalization of $4.34 billion, a PE ratio of -232.09 and a beta of 0.52.

QTS Realty Trust (NYSE:QTS) last issued its earnings results on Monday, July 27th. The real estate investment trust reported ($0.05) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.63). QTS Realty Trust had a net margin of 3.90% and a return on equity of 1.88%. The firm had revenue of $131.60 million during the quarter, compared to analyst estimates of $129.99 million. During the same quarter in the prior year, the firm posted $0.65 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts forecast that QTS Realty Trust will post 2.32 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Friday, September 18th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Thursday, September 17th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.61%. QTS Realty Trust’s dividend payout ratio (DPR) is presently 71.48%.

In other news, CEO Chad L. Williams sold 241,808 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $65.15, for a total value of $15,753,791.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shirley E. Goza sold 15,417 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $70.73, for a total value of $1,090,444.41. Following the completion of the sale, the insider now directly owns 29,152 shares of the company’s stock, valued at $2,061,920.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 277,225 shares of company stock valued at $18,147,836. 13.90% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Guggenheim Capital LLC bought a new stake in QTS Realty Trust during the 1st quarter worth approximately $1,614,000. Wellington Management Group LLP increased its stake in QTS Realty Trust by 1,245.6% during the 1st quarter. Wellington Management Group LLP now owns 391,747 shares of the real estate investment trust’s stock worth $22,725,000 after purchasing an additional 362,633 shares in the last quarter. Van ECK Associates Corp increased its stake in QTS Realty Trust by 108.9% during the 1st quarter. Van ECK Associates Corp now owns 704 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 367 shares in the last quarter. Alliancebernstein L.P. increased its stake in QTS Realty Trust by 75.7% during the 1st quarter. Alliancebernstein L.P. now owns 177,712 shares of the real estate investment trust’s stock worth $10,309,000 after purchasing an additional 76,560 shares in the last quarter. Finally, Teachers Insurance & Annuity Association of America increased its stake in QTS Realty Trust by 5.3% during the 1st quarter. Teachers Insurance & Annuity Association of America now owns 110,580 shares of the real estate investment trust’s stock worth $6,414,000 after purchasing an additional 5,539 shares in the last quarter.

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.

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Analyst Recommendations for QTS Realty Trust (NYSE:QTS)

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