CyrusOne Inc (CONE) Earns “Buy” Rating from UBS AG
UBS AG reaffirmed their buy rating on shares of CyrusOne Inc (NASDAQ:CONE) in a research note published on Wednesday, www.benzinga.com reports. UBS AG currently has a $70.00 price target on the real estate investment trust’s stock, up from their previous price target of $63.00.
A number of other equities research analysts also recently issued reports on CONE. Macquarie reiterated an outperform rating and issued a $58.00 price objective on shares of CyrusOne in a research report on Tuesday, July 4th. Zacks Investment Research upgraded CyrusOne from a hold rating to a buy rating and set a $62.00 price objective on the stock in a research report on Tuesday, July 11th. Stifel Nicolaus reiterated a buy rating on shares of CyrusOne in a research report on Wednesday, July 19th. Jefferies Group LLC reiterated a buy rating and issued a $63.00 price objective on shares of CyrusOne in a research report on Tuesday, July 25th. Finally, Cowen and Company reiterated a buy rating and issued a $72.00 price objective on shares of CyrusOne in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $62.14.
Shares of CyrusOne (CONE) traded up $0.55 during mid-day trading on Wednesday, hitting $62.00. The company had a trading volume of 976,399 shares, compared to its average volume of 762,143. The company has a quick ratio of 0.49, a current ratio of 0.48 and a debt-to-equity ratio of 1.56. CyrusOne has a one year low of $38.80 and a one year high of $65.73. The stock has a market capitalization of $5,661.16, a P/E ratio of 20.95, a PEG ratio of 1.02 and a beta of 0.81.
CyrusOne (NASDAQ:CONE) last issued its quarterly earnings data on Monday, October 30th. The real estate investment trust reported ($0.61) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($1.37). CyrusOne had a negative return on equity of 3.23% and a negative net margin of 13.60%. The business had revenue of $175.30 million during the quarter, compared to analysts’ expectations of $177.62 million. During the same quarter last year, the business posted $0.67 EPS. The company’s quarterly revenue was up 21.9% on a year-over-year basis. sell-side analysts predict that CyrusOne will post 3.09 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.68 dividend on an annualized basis and a yield of 2.71%. CyrusOne’s payout ratio is -173.19%.
In other news, EVP Robert M. Jackson sold 1,890 shares of CyrusOne stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $59.00, for a total value of $111,510.00. Following the transaction, the executive vice president now owns 24,296 shares in the company, valued at $1,433,464. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.64% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FDx Advisors Inc. increased its holdings in shares of CyrusOne by 21.1% in the third quarter. FDx Advisors Inc. now owns 11,353 shares of the real estate investment trust’s stock worth $669,000 after buying an additional 1,981 shares during the period. Swiss National Bank increased its holdings in shares of CyrusOne by 5.6% in the third quarter. Swiss National Bank now owns 139,399 shares of the real estate investment trust’s stock worth $8,215,000 after buying an additional 7,400 shares during the period. Principal Financial Group Inc. increased its holdings in shares of CyrusOne by 19.4% in the third quarter. Principal Financial Group Inc. now owns 388,341 shares of the real estate investment trust’s stock worth $22,885,000 after buying an additional 63,062 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in shares of CyrusOne by 23.3% in the third quarter. Oregon Public Employees Retirement Fund now owns 33,983 shares of the real estate investment trust’s stock worth $2,003,000 after buying an additional 6,414 shares during the period. Finally, Prudential Financial Inc. increased its holdings in shares of CyrusOne by 14.9% in the third quarter. Prudential Financial Inc. now owns 56,542 shares of the real estate investment trust’s stock worth $3,332,000 after buying an additional 7,330 shares during the period. Hedge funds and other institutional investors own 97.17% of the company’s stock.
CyrusOne Inc is a real estate investment trust. The Company is an owner, operator and developer of enterprise-class, carrier-neutral, multi-tenant data center properties. The Company’s data centers are generally purpose-built facilities with redundant power and cooling. The CyrusOne National IX Platform (the National IX Platform) delivers interconnection across states and between metro-enabled sites within its footprint and beyond.
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