QTS Realty Trust (NYSE:QTS) Rating Lowered to Hold at Truist

Truist lowered shares of QTS Realty Trust (NYSE:QTS) from a buy rating to a hold rating in a research note issued to investors on Thursday morning, The Fly reports. They currently have $78.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $85.00.

Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Company cut shares of QTS Realty Trust from an overweight rating to an equal weight rating and set a $78.00 price objective for the company. in a research report on Wednesday. Zacks Investment Research cut QTS Realty Trust from a buy rating to a hold rating in a research note on Wednesday, February 24th. Barclays raised their price objective on QTS Realty Trust from $73.00 to $78.00 and gave the stock an overweight rating in a report on Tuesday, April 27th. Evercore ISI began coverage on QTS Realty Trust in a research report on Wednesday, March 17th. They set an outperform rating and a $80.00 price target on the stock. Finally, Cowen downgraded QTS Realty Trust from an outperform rating to a market perform rating and set a $78.00 price objective for the company. in a report on Monday. Nine equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $75.25.

Shares of QTS stock opened at $78.17 on Thursday. The business’s 50 day simple moving average is $65.17. QTS Realty Trust has a 52-week low of $55.91 and a 52-week high of $78.65. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.69 and a quick ratio of 0.69. The company has a market cap of $5.38 billion, a price-to-earnings ratio of -150.33 and a beta of 0.52.

QTS Realty Trust (NYSE:QTS) last released its earnings results on Tuesday, April 27th. The real estate investment trust reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.63). QTS Realty Trust had a return on equity of 1.30% and a net margin of 2.80%. On average, equities research analysts anticipate that QTS Realty Trust will post 2.29 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 7th. Investors of record on Friday, June 18th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, June 17th. This represents a $2.00 annualized dividend and a dividend yield of 2.56%. QTS Realty Trust’s dividend payout ratio (DPR) is presently 70.42%.

In related news, CEO Chad L. Williams sold 1,100 shares of the company’s stock in a transaction dated Tuesday, April 20th. The stock was sold at an average price of $67.07, for a total transaction of $73,777.00. Following the transaction, the chief executive officer now directly owns 226,727 shares of the company’s stock, valued at approximately $15,206,579.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Chad L. Williams sold 6,330 shares of the stock in a transaction dated Thursday, April 22nd. The shares were sold at an average price of $67.08, for a total value of $424,616.40. Following the completion of the sale, the chief executive officer now owns 226,727 shares of the company’s stock, valued at $15,208,847.16. The disclosure for this sale can be found here. Insiders have sold 30,613 shares of company stock valued at $1,962,757 in the last three months. 12.00% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC boosted its stake in QTS Realty Trust by 48.0% in the 4th quarter. Advisory Services Network LLC now owns 478 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 155 shares in the last quarter. Cresset Asset Management LLC raised its holdings in shares of QTS Realty Trust by 4.8% in the fourth quarter. Cresset Asset Management LLC now owns 4,284 shares of the real estate investment trust’s stock worth $267,000 after buying an additional 196 shares during the last quarter. State of Wisconsin Investment Board lifted its stake in shares of QTS Realty Trust by 3.8% during the fourth quarter. State of Wisconsin Investment Board now owns 5,400 shares of the real estate investment trust’s stock worth $334,000 after buying an additional 200 shares during the period. Baird Financial Group Inc. lifted its stake in shares of QTS Realty Trust by 0.6% during the fourth quarter. Baird Financial Group Inc. now owns 37,021 shares of the real estate investment trust’s stock worth $2,291,000 after buying an additional 221 shares during the period. Finally, Fifth Third Bancorp grew its holdings in shares of QTS Realty Trust by 11.2% during the first quarter. Fifth Third Bancorp now owns 2,584 shares of the real estate investment trust’s stock valued at $160,000 after buying an additional 261 shares during the last quarter.

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 7 million square feet of owned data center space throughout primarily North America and Europe. 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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