Business

QTS Realty Trust reports higher quarterly results, sets stock sale

QTS Realty Trust Inc. on Monday reported higher quarterly profits and revenue, and the commencement of a public stock offering.

The Overland Park-based, which develops and operates twelve data centers in eight states, reported net income of $5.8 million in its fourth quarter, up from $4.4 million in the same period in 2013.

Revenues climbed 25.6 percent to $59.6 million in the final quarter.

For the year, QTS earned $19.1 million on revenue of $217.8 million.

QTS also announced a public stock sale of 8.7 million shares. The shares are being sold by the company and an affiliate of General Atlantic LLC, a large shareholder. QTS said net proceeds from the sale of its shares will be used to repay debt. The company said it will not receive any proceeds from the shares sold by the stockholder.

The Star

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