QTS Realty Trust (NYSE:QTS) Earns “Buy” Rating from Royal Bank of Canada

QTS Realty Trust (NYSE:QTS)‘s stock had its “buy” rating reiterated by equities researchers at Royal Bank of Canada in a note issued to investors on Thursday, AnalystRatings.com reports. They presently have a $52.00 price objective on the real estate investment trust’s stock. Royal Bank of Canada’s price target suggests a potential upside of 7.68% from the company’s previous close.

A number of other brokerages also recently weighed in on QTS. ValuEngine downgraded QTS Realty Trust from a “buy” rating to a “hold” rating in a report on Friday, July 12th. Zacks Investment Research lowered QTS Realty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. BMO Capital Markets reiterated a “buy” rating and issued a $49.00 price objective on shares of QTS Realty Trust in a research report on Wednesday, July 31st. Credit Suisse Group increased their price objective on QTS Realty Trust from $44.00 to $46.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, Raymond James raised QTS Realty Trust from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. QTS Realty Trust currently has a consensus rating of “Buy” and an average target price of $49.57.

Shares of QTS traded down $0.32 during midday trading on Thursday, hitting $48.29. The stock had a trading volume of 248,558 shares, compared to its average volume of 461,389. QTS Realty Trust has a 1 year low of $34.27 and a 1 year high of $48.82. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 2.21 and a beta of 0.61. The company has a current ratio of 0.79, a quick ratio of 0.63 and a debt-to-equity ratio of 1.48. The company’s 50 day moving average is $45.58.

QTS Realty Trust (NYSE:QTS) last released its quarterly earnings results on Monday, July 29th. The real estate investment trust reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.58). The firm 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 2.95%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.64 earnings per share. As a group, sell-side analysts predict that QTS Realty Trust will post 2.28 earnings per share for the current year.

In other news, CEO Chad L. Williams bought 7,230 shares of QTS Realty Trust stock in a transaction dated Thursday, May 30th. The shares were acquired at an average price of $45.88 per share, with a total value of $331,712.40. Following the completion of the purchase, the chief executive officer now owns 397,787 shares in the company, valued at approximately $18,250,467.56. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Wayne M. Rehberger bought 1,100 shares of QTS Realty Trust stock in a transaction dated Monday, August 5th. The stock was purchased at an average cost of $45.50 per share, for a total transaction of $50,050.00. Following the purchase, the director now owns 3,046 shares of the company’s stock, valued at approximately $138,593. The disclosure for this purchase can be found here. Company insiders own 13.40% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB purchased a new position in shares of QTS Realty Trust during the first quarter valued at approximately $4,716,000. Scout Investments Inc. raised its stake in shares of QTS Realty Trust by 65.2% in the second quarter. Scout Investments Inc. now owns 97,602 shares of the real estate investment trust’s stock valued at $4,507,000 after acquiring an additional 38,508 shares during the period. Amalgamated Bank raised its stake in shares of QTS Realty Trust by 39.9% in the fourth quarter. Amalgamated Bank now owns 7,130 shares of the real estate investment trust’s stock valued at $264,000 after acquiring an additional 2,034 shares during the period. Timbercreek Investment Management Inc. raised its stake in shares of QTS Realty Trust by 17.1% in the first quarter. Timbercreek Investment Management Inc. now owns 403,255 shares of the real estate investment trust’s stock valued at $18,142,000 after acquiring an additional 58,740 shares during the period. Finally, Quantitative Systematic Strategies LLC raised its stake in shares of QTS Realty Trust by 167.8% in the first quarter. Quantitative Systematic Strategies LLC now owns 24,120 shares of the real estate investment trust’s stock valued at $1,085,000 after acquiring an additional 15,114 shares during the period.

QTS Realty Trust Company Profile

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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