Harbor Spring Capital LLC decreased its holdings in QTS Realty Trust Inc (NYSE:QTS) by 14.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 585,543 shares of the real estate investment trust’s stock after selling 100,457 shares during the quarter. QTS Realty Trust accounts for approximately 2.7% of Harbor Spring Capital LLC’s holdings, making the stock its 22nd biggest position. Harbor Spring Capital LLC owned approximately 1.15% of QTS Realty Trust worth $24,985,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in QTS. OppenheimerFunds Inc. purchased a new stake in shares of QTS Realty Trust during the 2nd quarter valued at about $209,000. Commonwealth Equity Services LLC purchased a new stake in shares of QTS Realty Trust during the 2nd quarter valued at about $221,000. Advisors Asset Management Inc. increased its position in shares of QTS Realty Trust by 79.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 5,974 shares of the real estate investment trust’s stock valued at $236,000 after purchasing an additional 2,647 shares during the last quarter. Virginia Retirement Systems ET AL purchased a new stake in shares of QTS Realty Trust during the 3rd quarter valued at about $294,000. Finally, Vident Investment Advisory LLC purchased a new stake in shares of QTS Realty Trust during the 2nd quarter valued at about $300,000.
In other QTS Realty Trust news, Director Stephen E. Westhead sold 1,924 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $46.25, for a total value of $88,985.00. Following the completion of the transaction, the director now directly owns 5,014 shares in the company, valued at approximately $231,897.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chad L. Williams purchased 17,500 shares of the company’s stock in a transaction on Friday, November 2nd. The stock was acquired at an average price of $39.17 per share, with a total value of $685,475.00. Following the completion of the purchase, the chief executive officer now directly owns 356,028 shares in the company, valued at $13,945,616.76. The disclosure for this purchase can be found here. Corporate insiders own 16.10% of the company’s stock.
QTS Realty Trust (NYSE:QTS) last released its earnings results on Monday, October 29th. The real estate investment trust reported ($0.25) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.75). The firm had revenue of $112.20 million during the quarter, compared to analysts’ expectations of $105.28 million. QTS Realty Trust had a positive return on equity of 0.40% and a negative net margin of 5.49%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.70 earnings per share. Analysts forecast that QTS Realty Trust Inc will post 2.19 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 8th. Investors of record on Friday, December 21st will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 4.34%. The ex-dividend date is Thursday, December 20th. QTS Realty Trust’s dividend payout ratio is 59.42%.
Several equities research analysts have recently commented on QTS shares. Berenberg Bank raised shares of QTS Realty Trust from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Tuesday, October 23rd. Raymond James reaffirmed a “hold” rating on shares of QTS Realty Trust in a research report on Monday, August 20th. Zacks Investment Research raised shares of QTS Realty Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, September 19th. Credit Suisse Group raised shares of QTS Realty Trust from an “underperform” rating to a “neutral” rating and upped their price target for the company from $30.00 to $42.00 in a research report on Wednesday, August 8th. Finally, ValuEngine lowered shares of QTS Realty Trust from a “hold” rating to a “sell” rating in a report on Monday, October 29th. Two analysts have rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $46.42.
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About QTS Realty Trust
QTS Realty Trust, Inc (NYSE: QTS) is a leading provider of secure, compliant data center solutions, hybrid cloud and fully managed services. QTS' integrated technology service platform of hyperscale and hybrid colocation provides flexible, scalable, secure IT solutions for web and IT applications.
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