Public Employees Retirement System of Ohio trimmed its stake in QTS Realty Trust Inc (NYSE:QTS) by 0.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,272 shares of the real estate investment trust’s stock after selling 510 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in QTS Realty Trust were worth $2,737,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Truvestments Capital LLC lifted its position in shares of QTS Realty Trust by 505.6% in the second quarter. Truvestments Capital LLC now owns 539 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 450 shares during the last quarter. Bremer Bank National Association acquired a new stake in shares of QTS Realty Trust in the first quarter valued at approximately $33,000. NEXT Financial Group Inc acquired a new stake in shares of QTS Realty Trust in the second quarter valued at approximately $36,000. Huntington National Bank lifted its position in shares of QTS Realty Trust by 77.2% in the second quarter. Huntington National Bank now owns 886 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 386 shares during the last quarter. Finally, Hilton Capital Management LLC acquired a new stake in shares of QTS Realty Trust in the first quarter valued at approximately $93,000.
A number of research firms have recently issued reports on QTS. Raymond James raised QTS Realty Trust from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research report on Wednesday, July 31st. BMO Capital Markets reaffirmed a “buy” rating and issued a $49.00 price objective on shares of QTS Realty Trust in a research report on Wednesday, July 31st. ValuEngine raised QTS Realty Trust from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $52.00 price objective on shares of QTS Realty Trust in a research report on Thursday, August 8th. Finally, Credit Suisse Group raised 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. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $49.57.
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 the Thomson Reuters’ consensus estimate of $0.55 by ($0.58). The firm had revenue of $119.17 million for the quarter, compared to analyst estimates of $114.53 million. QTS Realty Trust had a return on equity of 2.95% and a net margin of 6.19%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 earnings per share. On average, analysts predict that QTS Realty Trust Inc will post 2.3 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Thursday, September 19th will be issued a dividend of $0.44 per share. The ex-dividend date is Wednesday, September 18th. This represents a $1.76 annualized dividend and a yield of 3.56%. QTS Realty Trust’s payout ratio is currently 67.69%.
In other news, Director Wayne M. Rehberger purchased 1,100 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average cost of $45.50 per share, with a total value of $50,050.00. Following the acquisition, the director now owns 3,046 shares in the company, valued at approximately $138,593. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 13.40% of the company’s stock.
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 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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