CyrusOne (NASDAQ:CONE) Downgraded to “Buy” at BidaskClub
Several other research firms have also recently commented on CONE. Bank of America set a $80.00 target price on shares of CyrusOne and gave the stock a buy rating in a research note on Friday, August 16th. ValuEngine raised shares of CyrusOne from a hold rating to a buy rating in a research note on Friday, August 30th. Zacks Investment Research raised shares of CyrusOne from a hold rating to a buy rating and set a $81.00 target price for the company in a research note on Wednesday. UBS Group cut shares of CyrusOne from a buy rating to a neutral rating and lowered their target price for the stock from $64.00 to $62.00 in a research note on Thursday, June 13th. Finally, Deutsche Bank raised shares of CyrusOne from a hold rating to a buy rating and set a $63.39 target price for the company in a research note on Friday, May 17th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $67.11.
Shares of CONE traded down $0.52 during mid-day trading on Thursday, reaching $73.65. 665,690 shares of the company’s stock were exchanged, compared to its average volume of 1,017,071. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.16. The company has a 50-day simple moving average of $67.00 and a two-hundred day simple moving average of $59.52. CyrusOne has a 52-week low of $48.94 and a 52-week high of $75.48. The company has a market cap of $8.23 billion, a price-to-earnings ratio of 22.25, a PEG ratio of 1.36 and a beta of 0.55.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, September 26th. This is a boost from CyrusOne’s previous quarterly dividend of $0.46. This represents a $2.00 annualized dividend and a dividend yield of 2.72%. CyrusOne’s payout ratio is currently 55.59%.
Several hedge funds and other institutional investors have recently made changes to their positions in CONE. Cullen Frost Bankers Inc. lifted its holdings in shares of CyrusOne by 190.8% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 538 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 353 shares in the last quarter. Tortoise Index Solutions LLC acquired a new position in shares of CyrusOne during the 1st quarter valued at $40,000. Nvwm LLC lifted its holdings in shares of CyrusOne by 69.6% during the 1st quarter. Nvwm LLC now owns 916 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 376 shares in the last quarter. Icon Wealth Partners LLC acquired a new position in shares of CyrusOne during the 1st quarter valued at $60,000. Finally, Pearl River Capital LLC acquired a new position in shares of CyrusOne during the 2nd quarter valued at $94,000.
CyrusOne (NASDAQ: CONE) is a high-growth real estate investment trust (REIT) specializing in highly reliable enterprise-class, carrier-neutral data center properties. The Company provides mission-critical data center facilities that protect and ensure the continued operation of IT infrastructure for approximately 1,000 customers, including 212 Fortune 1000 companies.
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