QTS Realty Trust (QTS) is a growing data center REIT that currently has two series of preferred stock outstanding. These two series of preferred are different, but each has something to offer depending on your personal investment objectives. The series A preferred (QTS.PA) offers an attractive current yield of 7.0%, but doesn’t offer much upside participation, while the series B (QTS.PB) with a lower current yield at 4.6% is convertible into QTS common shares with the potential for upside equity participation. While we have a favorable outlook both near- and long-term for data