QTS Realty Trust (QTS) Cut to “Sell” at Zacks Investment Research

QTS Realty Trust (NYSE:QTS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

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. “

A number of other brokerages also recently commented on QTS. Credit Suisse Group raised shares of QTS Realty Trust from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $30.00 to $42.00 in a research report on Wednesday, August 8th. Stifel Nicolaus set a $48.00 price objective on shares of QTS Realty Trust and gave the company a “buy” rating in a research report on Tuesday, July 17th. Berenberg Bank raised shares of QTS Realty Trust from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research report on Tuesday, October 23rd. BMO Capital Markets started coverage on shares of QTS Realty Trust in a research report on Tuesday, July 17th. They issued an “outperform” rating and a $51.00 price objective on the stock. Finally, Guggenheim raised shares of QTS Realty Trust from a “neutral” rating to a “buy” rating and increased their price objective for the company from $45.00 to $46.00 in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $46.42.

Shares of NYSE:QTS opened at $39.55 on Friday. QTS Realty Trust has a 52 week low of $31.58 and a 52 week high of $61.55. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 1.07 and a beta of 0.76.

QTS Realty Trust (NYSE:QTS) last announced its quarterly earnings data on Monday, October 29th. The real estate investment trust reported ($0.25) EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.75). QTS Realty Trust had a negative net margin of 5.49% and a positive return on equity of 0.38%. The firm had revenue of $112.20 million during the quarter, compared to analysts’ expectations of $105.28 million. During the same period in the prior year, the company posted $0.70 earnings per share. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, research analysts forecast that QTS Realty Trust will post 2.19 earnings per share for the current year.

In related news, Director Catherine R. Kinney bought 1,400 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The shares were purchased at an average cost of $44.07 per share, with a total value of $61,698.00. Following the transaction, the director now directly owns 11,657 shares of the company’s stock, valued at approximately $513,723.99. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Stephen E. Westhead sold 1,924 shares of the stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $46.25, for a total transaction of $88,985.00. Following the completion of the transaction, the director now directly owns 5,014 shares in the company, valued at $231,897.50. The disclosure for this sale can be found here. Company insiders own 16.10% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its position in shares of QTS Realty Trust by 8.1% in the 2nd quarter. BlackRock Inc. now owns 4,717,710 shares of the real estate investment trust’s stock valued at $186,351,000 after buying an additional 352,675 shares during the last quarter. Wedge Capital Management L L P NC boosted its stake in QTS Realty Trust by 78.8% during the 3rd quarter. Wedge Capital Management L L P NC now owns 983,358 shares of the real estate investment trust’s stock worth $41,960,000 after purchasing an additional 433,405 shares during the period. Citadel Advisors LLC boosted its stake in QTS Realty Trust by 1,658.4% during the 2nd quarter. Citadel Advisors LLC now owns 905,197 shares of the real estate investment trust’s stock worth $35,755,000 after purchasing an additional 853,720 shares during the period. Northern Trust Corp boosted its stake in QTS Realty Trust by 0.8% during the 2nd quarter. Northern Trust Corp now owns 891,492 shares of the real estate investment trust’s stock worth $35,214,000 after purchasing an additional 7,024 shares during the period. Finally, Peregrine Capital Management LLC boosted its stake in QTS Realty Trust by 1.9% during the 3rd quarter. Peregrine Capital Management LLC now owns 753,165 shares of the real estate investment trust’s stock worth $32,138,000 after purchasing an additional 13,702 shares during the period.

QTS Realty Trust Company Profile

QTS Realty Trust, Inc (NYSE: QTS) is a leading provider of secure, compliant data center solutions, hybrid cloud and fully managed services. QTS' integrated technology service platform of hyperscale and hybrid colocation provide flexible, scalable, secure IT solutions for web and IT applications.

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