QTS Seeks $300 Million in Data-Center REIT Initial Public Offer
QTS Realty Trust Inc., an owner and operator of data centers serving businesses and government agencies, is seeking $300 million in a U.S. initial public offering.
The company didn’t say how many shares it will offer or at what price in a regulatory filing today. The offering size is a placeholder amount used to calculate registration fees and may change. The Overland Park, Kansas-based company plans to organize as a real estate investment trust, it said.
QTS Realty Trust operates 10 data centers across seven states and may be at least the second such company to sell shares publicly as a REIT this year, data compiled by Bloomberg show. CyrusOne Inc. (CONE), a Carrollton, Texas-based data-center REIT, raised $361 million in a January IPO including an over-allotment. The shares had declined 3.2 percent through yesterday.
QTS Realty Trust had an estimated $7.1 million of net income in the six months through June 30 on revenue of $84.4 million.
General Atlantic LLC, the Greenwich, Connecticut-based investment firm, plans to sell shares in the offering, the filing shows. The firm invested $150 million in the company in 2009.
Goldman Sachs Group Inc. and Jefferies Group LLC are leading the offering. QTS Realty Trust plans to apply for a listing on the New York Stock Exchange under the symbol QTS.
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