QTS Realty Trust (NYSE:QTS) Lifted to “Outperform” at Raymond James

Raymond James upgraded shares of QTS Realty Trust (NYSE:QTS) from a market perform rating to an outperform rating in a research report sent to investors on Wednesday morning, BenzingaRatingsTable reports. They currently have $50.00 price target on the real estate investment trust’s stock.

Other analysts have also issued research reports about the stock. BMO Capital Markets set a $49.00 price objective on shares of QTS Realty Trust and gave the company a buy rating in a research note on Thursday, May 2nd. Zacks Investment Research downgraded shares of QTS Realty Trust from a buy rating to a hold rating in a report on Wednesday, July 17th. Finally, ValuEngine cut QTS Realty Trust from a buy rating to a hold rating in a research report on Friday, July 12th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $49.17.

Shares of NYSE:QTS opened at $45.97 on Wednesday. The company has a market capitalization of $2.56 billion, a P/E ratio of 17.68, a PEG ratio of 2.18 and a beta of 0.61. QTS Realty Trust has a 52 week low of $34.27 and a 52 week high of $47.13. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a 50 day moving average price of $45.53.

QTS Realty Trust (NYSE:QTS) last issued its quarterly earnings data on Monday, July 29th. The real estate investment trust reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.58). The company had revenue of $119.17 million during the quarter, compared to the consensus estimate of $114.53 million. QTS Realty Trust had a net margin of 6.19% and a return on equity of 2.99%. QTS Realty Trust’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.64 earnings per share. As a group, equities analysts forecast that QTS Realty Trust will post 2.28 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Tuesday, June 25th were issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend was Monday, June 24th. QTS Realty Trust’s dividend payout ratio is 67.69%.

In other news, insider Jon D. Greaves sold 5,555 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $45.55, for a total value of $253,030.25. Following the transaction, the insider now owns 41,520 shares in the company, valued at $1,891,236. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Stephen E. Westhead sold 5,135 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $46.26, for a total value of $237,545.10. Following the completion of the sale, the director now directly owns 12,054 shares of the company’s stock, valued at approximately $557,618.04. The disclosure for this sale can be found here. Corporate insiders own 13.40% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Westfield Capital Management Co. LP lifted its stake in 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 in the last quarter. Jennison Associates LLC boosted its holdings in QTS Realty Trust by 93.3% during the first quarter. Jennison Associates LLC now owns 791,227 shares of the real estate investment trust’s stock worth $35,597,000 after buying an additional 381,819 shares in the last quarter. Norges Bank bought a new stake in QTS Realty Trust during the fourth quarter worth approximately $23,068,000. Public Employees Retirement Association of Colorado boosted its stake in 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 worth $22,175,000 after purchasing an additional 53,591 shares during the period. Finally, Copeland Capital Management LLC boosted its stake in shares of QTS Realty Trust by 20.3% during 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.

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.

Featured Story: When can a hold rating present a buying opportunity?

Analyst Recommendations for QTS Realty Trust (NYSE:QTS)

Receive News & Ratings for QTS Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QTS Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.