CyrusOne Inc (CONE) Stake Lessened by Friedberg Investment Management
Friedberg Investment Management cut its stake in CyrusOne Inc (NASDAQ:CONE) by 0.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,545 shares of the real estate investment trust’s stock after selling 115 shares during the period. CyrusOne makes up approximately 2.2% of Friedberg Investment Management’s investment portfolio, making the stock its 17th biggest position. Friedberg Investment Management’s holdings in CyrusOne were worth $5,159,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Cubist Systematic Strategies LLC boosted its holdings in shares of CyrusOne by 691.8% in the second quarter. Cubist Systematic Strategies LLC now owns 18,822 shares of the real estate investment trust’s stock valued at $1,049,000 after acquiring an additional 16,445 shares in the last quarter. State Street Corp boosted its holdings in shares of CyrusOne by 6.6% in the second quarter. State Street Corp now owns 2,073,936 shares of the real estate investment trust’s stock valued at $115,625,000 after acquiring an additional 129,125 shares in the last quarter. Dana Investment Advisors Inc. bought a new position in shares of CyrusOne in the second quarter valued at approximately $10,652,000. Cornerstone Capital Management Holdings LLC. boosted its holdings in shares of CyrusOne by 3.7% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 38,064 shares of the real estate investment trust’s stock valued at $2,122,000 after acquiring an additional 1,358 shares in the last quarter. Finally, Lenox Wealth Management Inc. boosted its holdings in shares of CyrusOne by 514.1% in the second quarter. Lenox Wealth Management Inc. now owns 6,141 shares of the real estate investment trust’s stock valued at $345,000 after acquiring an additional 5,141 shares in the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.
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Shares of CyrusOne Inc (NASDAQ CONE) traded up 1.98% during mid-day trading on Friday, reaching $60.66. 981,959 shares of the company were exchanged. The firm has a 50-day moving average price of $61.28 and a 200 day moving average price of $57.10. CyrusOne Inc has a 12 month low of $38.80 and a 12 month high of $65.73.
CyrusOne (NASDAQ:CONE) last posted its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.03. The business had revenue of $166.90 million during the quarter, compared to the consensus estimate of $165.71 million. CyrusOne had a negative net margin of 4.35% and a positive return on equity of 1.30%. CyrusOne’s revenue for the quarter was up 28.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.67 earnings per share. On average, equities analysts expect that CyrusOne Inc will post ($0.24) EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Thursday, September 28th. CyrusOne’s dividend payout ratio (DPR) is -541.92%.
In related news, EVP Robert M. Jackson sold 1,890 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $59.00, for a total transaction of $111,510.00. Following the completion of the sale, the executive vice president now directly owns 24,296 shares of the company’s stock, valued at $1,433,464. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.64% of the company’s stock.
Several research analysts have recently issued reports on CONE shares. Morgan Stanley reiterated an “overweight” rating and issued a $63.00 price objective (up from $58.00) on shares of CyrusOne in a report on Friday, August 25th. Cowen and Company increased their price objective on shares of CyrusOne from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, June 23rd. Zacks Investment Research cut shares of CyrusOne from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub cut shares of CyrusOne from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 10th. Finally, KeyCorp reiterated a “hold” rating on shares of CyrusOne in a report on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. CyrusOne has an average rating of “Buy” and an average price target of $60.77.
CyrusOne Company Profile
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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