CyrusOne Inc (CONE) Receives Buy Rating from Royal Bank Of Canada
Several other research analysts also recently issued reports on CONE. Macquarie reaffirmed an outperform rating and set a $58.00 price objective on shares of CyrusOne in a report on Tuesday, July 4th. Barclays PLC upped their price objective on CyrusOne from $53.00 to $57.00 and gave the stock an overweight rating in a report on Tuesday, April 25th. Cowen and Company reaffirmed a buy rating and set a $72.00 price objective on shares of CyrusOne in a report on Friday. Stifel Nicolaus upped their price objective on CyrusOne from $56.00 to $60.00 and gave the stock a buy rating in a report on Friday, May 5th. Finally, Morgan Stanley reaffirmed an overweight rating and set a $58.00 price objective (up previously from $56.00) on shares of CyrusOne in a report on Wednesday, May 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $59.29.
Shares of CyrusOne (CONE) opened at 59.71 on Friday. CyrusOne has a 52 week low of $38.80 and a 52 week high of $59.97. The firm’s 50-day moving average price is $57.37 and its 200 day moving average price is $53.20.
CyrusOne (NASDAQ:CONE) last released its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.72 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.04. The business had revenue of $149.30 million for the quarter, compared to analyst estimates 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) earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.81%. The ex-dividend date was Wednesday, June 28th. CyrusOne’s payout ratio is presently -884.16%.
In related news, insider Kevin L. Timmons sold 8,600 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $57.89, for a total transaction of $497,854.00. Following the sale, the insider now owns 170,137 shares of the company’s stock, valued at approximately $9,849,230.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary J. Wojtaszek sold 80,000 shares of the firm’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $57.79, for a total value of $4,623,200.00. Following the sale, the insider now directly owns 511,621 shares in the company, valued at approximately $29,566,577.59. The disclosure for this sale can be found here. Insiders have sold a total of 126,894 shares of company stock worth $7,342,489 in the last ninety days. 1.64% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. Comerica Bank acquired a new stake in shares of CyrusOne during the fourth quarter valued at approximately $203,000. Teachers Advisors LLC increased its stake in shares of CyrusOne by 24.4% in the fourth quarter. Teachers Advisors LLC now owns 1,073,579 shares of the real estate investment trust’s stock valued at $48,021,000 after buying an additional 210,676 shares during the last quarter. Pensionfund Sabic increased its stake in shares of CyrusOne by 19.2% in the first quarter. Pensionfund Sabic now owns 6,200 shares of the real estate investment trust’s stock valued at $319,000 after buying an additional 1,000 shares during the last quarter. Bank of Montreal Can increased its stake in shares of CyrusOne by 100.5% in the first quarter. Bank of Montreal Can now owns 686,984 shares of the real estate investment trust’s stock valued at $35,358,000 after buying an additional 344,400 shares during the last quarter. Finally, Spirit of America Management Corp NY increased its stake in shares of CyrusOne by 48.7% in the first quarter. Spirit of America Management Corp NY now owns 35,400 shares of the real estate investment trust’s stock valued at $1,822,000 after buying an additional 11,600 shares during the last quarter. 99.23% of the stock is currently owned by institutional investors and hedge funds.
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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