QTS Realty Trust (QTS) Tops Q3 FFO by 2c

QTS Realty Trust (NYSE: QTS) reported Q3 FFO of $0.70, $0.02 better than the analyst estimate of $0.68.

er-year revenue growth to be at the lower end of its previously provided range of 11 - 13%. In addition, the Company is reaffirming its 2017 adjusted EBITDA guidance of $203.0 million to $211.0 million. The Company is maintaining its Operating FFO guidance of $152.0 million to $158.0 million, which reflects an increase in the non-cash tax benefit assumption of approximately $1 million to $6.5 million, offset by higher assumed interest expense associated with investment activity since the end of the second quarter. However, factoring in the higher non-cash tax benefit assumption and capital efficiency reducing the need for additional equity in the fourth quarter, the Company is raising its guidance for Operating FFO per share to a range of $2.68 to $2.80. The Company is maintaining its guidance for expected churn at the high end of its historical average of 5-8%. Additionally, even with the new development spend in Northern Virginia, the Company continues to expect 2017 Capital Expenditures, excluding acquisitions, to be in the range of approximately $325.0 million to $375.0 million.

For earnings history and earnings-related data on QTS Realty Trust (QTS) click here.

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