QTS Realty Trust (NYSE:QTS) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Thursday, Zacks.com reports.
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. "
Other analysts have also recently issued research reports about the stock. Truist cut shares of QTS Realty Trust from a "buy" rating to a "hold" rating and decreased their price target for the stock from $85.00 to $78.00 in a research note on Thursday, June 10th. Wells Fargo & Company cut shares of QTS Realty Trust from an "overweight" rating to an "equal weight" rating and set a $78.00 price target for the company. in a research note on Wednesday, June 9th. Truist Securities downgraded shares of QTS Realty Trust from a "buy" rating to a "hold" rating and cut their price objective for the stock from $85.00 to $78.00 in a research report on Thursday, June 10th. Barclays upped their price objective on shares of QTS Realty Trust from $73.00 to $78.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 27th. Finally, BMO Capital Markets downgraded shares of QTS Realty Trust from an "outperform" rating to a "market perform" rating and increased their price target for the company from $76.00 to $78.00 in a report on Tuesday, June 8th. Nine investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. QTS Realty Trust currently has an average rating of "Buy" and an average target price of $76.44.
Shares of QTS Realty Trust stock opened at $77.75 on Thursday. The firm has a fifty day moving average of $72.66. QTS Realty Trust has a 12-month low of $55.91 and a 12-month high of $78.65. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market cap of $5.35 billion, a PE ratio of -149.52 and a beta of 0.54.
QTS Realty Trust (NYSE:QTS) last issued its quarterly earnings results on Tuesday, April 27th. The real estate investment trust reported ($0.07) earnings per share for the quarter, missing the Zacks' 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%. Analysts expect that QTS Realty Trust will post 2.3 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in QTS. Truvestments Capital LLC acquired a new position in QTS Realty Trust in the fourth quarter valued at about $27,000. Eaton Vance Management bought a new position in QTS Realty Trust in the first quarter valued at approximately $32,000. International Assets Investment Management LLC grew its stake in QTS Realty Trust by 69.7% in the first quarter. International Assets Investment Management LLC now owns 1,069 shares of the real estate investment trust's stock valued at $66,000 after purchasing an additional 439 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new position in QTS Realty Trust in the first quarter valued at approximately $117,000. Finally, Fifth Third Bancorp grew its stake in QTS Realty Trust by 11.2% in the first quarter. Fifth Third Bancorp now owns 2,584 shares of the real estate investment trust's stock valued at $160,000 after purchasing an additional 261 shares in the last quarter.
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 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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