SunTrust Banks, Inc. Increases QTS Realty Trust, Inc. (QTS) Price Target to $64.00

QTS Realty Trust, Inc. (NYSE:QTS) had its price target upped by SunTrust Banks, Inc. from $62.00 to $64.00 in a research note released on Thursday. The brokerage currently has a buy rating on the real estate investment trust’s stock. SunTrust Banks also issued estimates for QTS Realty Trust’s FY2017 earnings at $2.71 EPS, Q2 2018 earnings at $0.70 EPS and FY2018 earnings at $2.96 EPS.

A number of other brokerages have also weighed in on QTS. TheStreet upgraded shares of QTS Realty Trust from a c rating to a b- rating in a report on Tuesday, October 24th. BidaskClub upgraded shares of QTS Realty Trust from a sell rating to a hold rating in a report on Monday, July 24th. Morgan Stanley reiterated an equal weight rating and set a $58.00 price objective (up previously from $53.00) on shares of QTS Realty Trust in a report on Friday, August 25th. Royal Bank Of Canada reiterated a buy rating and set a $60.00 price objective on shares of QTS Realty Trust in a report on Wednesday, September 6th. Finally, Deutsche Bank AG reiterated a hold rating and set a $52.00 price objective (down previously from $53.00) on shares of QTS Realty Trust in a report on Friday, August 11th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $57.54.

QTS Realty Trust (NYSE QTS) opened at 56.29 on Thursday. The company has a market capitalization of $2.75 billion, a P/E ratio of 143.60 and a beta of 0.45. The company has a 50-day moving average of $53.72 and a 200-day moving average of $52.88. QTS Realty Trust has a 1-year low of $43.01 and a 1-year high of $58.79.

QTS Realty Trust (NYSE:QTS) last announced its quarterly earnings data on Tuesday, October 24th. The real estate investment trust reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.59. QTS Realty Trust had a net margin of 4.67% and a return on equity of 2.13%. The company had revenue of $113.77 million during the quarter, compared to analyst estimates of $113.64 million. During the same quarter last year, the business posted $0.67 EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. Equities analysts expect that QTS Realty Trust will post $0.45 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which was paid on Thursday, October 5th. Stockholders of record on Friday, September 22nd were issued a $0.39 dividend. The ex-dividend date of this dividend was Thursday, September 21st. This represents a $1.56 annualized dividend and a dividend yield of 2.77%. QTS Realty Trust’s dividend payout ratio is currently 380.50%.

In other news, CEO Chad L. Williams sold 682,576 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $54.25, for a total value of $37,029,748.00. Following the completion of the sale, the chief executive officer now owns 236,526 shares in the company, valued at approximately $12,831,535.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP William H. Schafer sold 16,260 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $54.47, for a total transaction of $885,682.20. Following the completion of the sale, the executive vice president now owns 67,735 shares of the company’s stock, valued at approximately $3,689,525.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 732,541 shares of company stock valued at $39,756,070. Company insiders own 17.30% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Principal Financial Group Inc. raised its holdings in shares of QTS Realty Trust by 1.3% in the 1st quarter. Principal Financial Group Inc. now owns 6,642 shares of the real estate investment trust’s stock valued at $324,000 after purchasing an additional 82 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of QTS Realty Trust by 0.4% in the 2nd quarter. Janney Montgomery Scott LLC now owns 38,828 shares of the real estate investment trust’s stock valued at $2,032,000 after purchasing an additional 163 shares in the last quarter. Thrivent Financial For Lutherans raised its holdings in shares of QTS Realty Trust by 1.1% in the 1st quarter. Thrivent Financial For Lutherans now owns 18,980 shares of the real estate investment trust’s stock valued at $925,000 after purchasing an additional 200 shares in the last quarter. GAM Holding AG raised its holdings in shares of QTS Realty Trust by 5.2% in the 2nd quarter. GAM Holding AG now owns 4,014 shares of the real estate investment trust’s stock valued at $210,000 after purchasing an additional 200 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in shares of QTS Realty Trust by 2.5% in the 2nd quarter. California Public Employees Retirement System now owns 12,500 shares of the real estate investment trust’s stock valued at $654,000 after purchasing an additional 300 shares in the last quarter.

QTS Realty Trust Company Profile

QTS Realty Trust, Inc (QTS) is a provider of secure, compliant data center solutions, hybrid cloud and fully managed services. The Company owns, develops and operates carrier-neutral and multi-tenant data centers. Its data centers are facilities that house the network and computer equipment of multiple customers and provide access to a range of communications carriers.

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