CyrusOne Inc (CONE) Given Buy Rating at Jefferies Group LLC
Jefferies Group LLC reiterated their buy rating on shares of CyrusOne Inc (NASDAQ:CONE) in a report released on Tuesday. The brokerage currently has a $63.00 target price on the real estate investment trust’s stock.
Other equities analysts have also recently issued reports about the company. BidaskClub cut CyrusOne from a strong-buy rating to a buy rating in a report on Thursday, June 29th. Stifel Nicolaus lifted their price objective on CyrusOne from $56.00 to $60.00 and gave the stock a buy rating in a report on Monday, May 15th. Zacks Investment Research raised CyrusOne from a hold rating to a buy rating and set a $62.00 price objective for the company in a report on Tuesday, July 11th. TheStreet cut CyrusOne from a b- rating to a c rating in a report on Wednesday, May 3rd. Finally, Mitsubishi UFJ Financial Group initiated coverage on CyrusOne in a report on Tuesday, April 25th. They set a neutral rating and a $54.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $59.29.
CyrusOne (NASDAQ:CONE) traded up 0.78% on Tuesday, reaching $59.67. The company had a trading volume of 492,336 shares. The company’s 50-day moving average is $57.30 and its 200-day moving average is $53.06. CyrusOne has a 52-week low of $38.80 and a 52-week high of $59.97.
CyrusOne (NASDAQ:CONE) last issued its quarterly earnings data on Wednesday, May 3rd. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. The firm had revenue of $149.30 million during the quarter, compared to analysts’ expectations of $150.63 million. CyrusOne had a positive return on equity of 2.27% and a negative net margin of 2.87%. Analysts predict that CyrusOne will post ($0.11) EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were issued a $0.42 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.82%. CyrusOne’s dividend payout ratio (DPR) is -884.16%.
In related news, CEO Gary J. Wojtaszek sold 38,294 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $58.01, for a total value of $2,221,434.94. Following the completion of the transaction, the chief executive officer now directly owns 511,621 shares in the company, valued at $29,679,134.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gary J. Wojtaszek sold 80,000 shares of the company’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $57.79, for a total value of $4,623,200.00. Following the completion of the transaction, the insider now owns 511,621 shares of the company’s stock, valued at $29,566,577.59. The disclosure for this sale can be found here. Insiders sold 126,894 shares of company stock valued at $7,342,489 over the last quarter. Insiders own 1.64% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Wealthsource Partners LLC raised its position in CyrusOne by 6.7% in the first quarter. Wealthsource Partners LLC now owns 11,048 shares of the real estate investment trust’s stock valued at $569,000 after buying an additional 690 shares during the last quarter. American International Group Inc. raised its position in CyrusOne by 8,513.1% in the first quarter. American International Group Inc. now owns 148,232 shares of the real estate investment trust’s stock valued at $7,630,000 after buying an additional 146,511 shares during the last quarter. Brookfield Asset Management Inc. raised its position in CyrusOne by 11.9% in the fourth quarter. Brookfield Asset Management Inc. now owns 3,012,123 shares of the real estate investment trust’s stock valued at $134,732,000 after buying an additional 320,151 shares during the last quarter. Utah Retirement Systems raised its position in CyrusOne by 7.8% in the first quarter. Utah Retirement Systems now owns 13,900 shares of the real estate investment trust’s stock valued at $715,000 after buying an additional 1,000 shares during the last quarter. Finally, Texas Permanent School Fund acquired a new position in CyrusOne during the first quarter valued at approximately $2,769,000. Hedge funds and other institutional investors own 99.31% 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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