Shares of QTS Realty Trust Inc. Class A (NYSE:QTS) traded today at $78.65, eclipsing its 52-week high. This new high was reached on above average trading volume as 13.4 million shares traded hands, while the average 30-day volume is approximately 570,000 shares.
QTS Realty Trust Inc. Class A (NYSE:QTS) defies analysts with a current price ($78.07) 26.7% above its average consensus price target of $57.20.
QTS Realty Trust Inc is a real estate investment trust involved in the ownership and management of data centers located throughout the United States. The company provides data center solutions and cloud-managed services to customers through its facilities. QTS’ Customer Data Center and Colocation Services business lines, cumulatively, contribute the majority of its total revenue. In each of these, QTS provides its tenants with the services and rental space necessary to house, power, and cool their networking equipment and computer systems. Most of the company’s real estate portfolio is located in the Richmond, Dallas-Fort Worth, and Northeastern Georgia regions in terms of total square footage and rental revenue. Companies in the technology industry represent QTS’ largest source of income.
Over the past year, QTS Realty Trust Inc. Class A has traded in a range of $55.91 to $78.65 and is now at $78.07, 40% above that low.
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