QTS Realty Trust, Inc.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2021 10-Q, filed Aug 5, 2021. Its latest SEC filing is a SC 13G/A from Feb 15, 2022.

The sections below describe the company as of the FY2020 annual report.

What Did They Do?

Leases data center capacity and provides related IT services, including connectivity and managed services, to hyperscale technology companies, enterprises and government agencies.

How Did They Make Money?

Customers pay rent for data center space over the lease term; fixed power fees are monthly, while variable power charges depend on power used. Customers also pay monthly for managed services as those services are provided.

FY2020 revenue

Who Were Their Customers?

Large enterprises and technology companies, government agencies, and small and medium-sized businesses use QTS's data center services across finance, healthcare, retail, communications, software and internet industries.

Did Revenues Turn Into Profits?

Yes. It kept 3 cents of every revenue dollar as net income in FY2020.

Operating income, FY2020

12% of revenue

▲ +7% vs FY2019 ($61.2M, 13%)

Net income, FY2020

3% of revenue

▼ −49% vs FY2019 ($31.3M, 7%)

How Were They Changing?

Since the FY2020 annual report

Latest quarter: Q2 FY2021, the three months to Jun 30, 2021

Revenue: ▲ +18%; vs $131.6M in Q2 FY2020
Net income: ▼ −55%; vs $9.9M in Q2 FY2020

Aug 31, 2021 Blackstone completed its acquisition of QTS QTS shares were converted into cash consideration, and its common and preferred stocks were no longer listed on public markets.

Grew. Revenue grew 21% in 3 years, from $446.5M in FY2017 to $539.4M in FY2020, about 7% a year.

Product focus The older report listed Custom Data Center, Colocation, and Cloud and Managed Services, while outlining a move toward hyperscale and hybrid colocation and a narrower set of cloud and managed services. The latest report describes facilities serving hyperscale and hybrid-colocation customers.

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