QTS Realty Trust Inc (NYSE:QTS) announced a quarterly dividend on Wednesday, July 29th, Zacks reports. Investors of record on Friday, September 18th will be paid a dividend of 0.47 per share by the real estate investment trust on Tuesday, October 6th. This represents a $1.88 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Thursday, September 17th.
QTS Realty Trust has increased its dividend by an average of 22.2% per year over the last three years and has raised its dividend every year for the last 5 years. QTS Realty Trust has a payout ratio of 1,342.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect QTS Realty Trust to earn $2.57 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 73.2%.
Shares of NYSE:QTS traded down $0.60 during trading hours on Friday, reaching $71.00. The stock had a trading volume of 4,539 shares, compared to its average volume of 574,276. QTS Realty Trust has a 1 year low of $42.64 and a 1 year high of $72.11. The firm’s 50 day moving average is $64.96 and its 200-day moving average is $60.54. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.39 and a current ratio of 1.38. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of -230.96 and a beta of 0.52.
In other news, EVP William H. Schafer sold 20,000 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $65.18, for a total value of $1,303,600.00. Following the completion of the sale, the executive vice president now owns 16,307 shares in the company, valued at approximately $1,062,890.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Chad L. Williams sold 241,808 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $65.15, for a total transaction of $15,753,791.20. The disclosure for this sale can be found here. 13.90% of the stock is currently owned by company insiders.
A number of equities research analysts have commented on the stock. Raymond James raised shares of QTS Realty Trust from a “market perform” rating to an “outperform” rating and set a $74.00 price objective on the stock in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on shares of QTS Realty Trust from $70.00 to $76.00 in a research report on Wednesday. Barclays assumed coverage on shares of QTS Realty Trust in a research report on Wednesday, July 15th. They issued an “overweight” rating and a $73.00 target price on the stock. Deutsche Bank assumed coverage on shares of QTS Realty Trust in a research report on Friday, June 5th. They issued a “hold” rating and a $69.00 target price on the stock. Finally, Jefferies Financial Group raised shares of QTS Realty Trust from a “hold” rating to a “buy” rating and increased their target price for the company from $55.00 to $75.00 in a research report on Monday, May 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company. QTS Realty Trust presently has a consensus rating of “Buy” and a consensus target price of $69.41.
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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