CyrusOne (NASDAQ:CONE) Downgraded to “Market Perform” at BMO Capital Markets
BMO Capital Markets cut shares of CyrusOne (NASDAQ:CONE) from an outperform rating to a market perform rating in a report released on Tuesday, BenzingaRatingsTable reports. The firm currently has $67.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $73.00.
A number of other research analysts also recently commented on the company. Bank of America downgraded CyrusOne from a buy rating to a neutral rating in a report on Thursday, January 2nd. UBS Group lifted their price target on CyrusOne from $64.00 to $70.00 and gave the company a neutral rating in a research report on Monday, November 4th. ValuEngine raised CyrusOne from a sell rating to a hold rating in a research note on Saturday, December 7th. Credit Suisse Group set a $68.00 price objective on CyrusOne and gave the stock a hold rating in a research note on Friday, November 1st. Finally, Guggenheim set a $81.00 target price on CyrusOne and gave the stock a buy rating in a research report on Tuesday, September 24th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $72.77.
Shares of CONE traded up $1.20 during midday trading on Tuesday, reaching $62.87. The company had a trading volume of 28,670 shares, compared to its average volume of 1,233,294. CyrusOne has a 1-year low of $48.94 and a 1-year high of $79.73. The stock has a market cap of $7.58 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 1.13 and a beta of 0.44. The firm has a 50 day simple moving average of $64.01 and a 200-day simple moving average of $67.25. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.21.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.18%. The ex-dividend date was Tuesday, December 31st. CyrusOne’s payout ratio is 60.42%.
In other CyrusOne news, CAO Mark Skomal sold 1,083 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $68.47, for a total value of $74,153.01. Following the completion of the sale, the chief accounting officer now directly owns 5,515 shares in the company, valued at approximately $377,612.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Gary J. Wojtaszek sold 13,361 shares of the company’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $65.00, for a total value of $868,465.00. Following the completion of the sale, the chief executive officer now owns 346,008 shares of the company’s stock, valued at $22,490,520. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 143,539 shares of company stock valued at $9,667,068. Corporate insiders own 1.40% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CONE. Ingalls & Snyder LLC grew its holdings in CyrusOne by 23.7% in the 4th quarter. Ingalls & Snyder LLC now owns 64,588 shares of the real estate investment trust’s stock worth $4,226,000 after buying an additional 12,370 shares in the last quarter. Raymond James Trust N.A. increased its position in CyrusOne by 14.0% in the 4th quarter. Raymond James Trust N.A. now owns 12,273 shares of the real estate investment trust’s stock valued at $803,000 after acquiring an additional 1,509 shares during the period. Brasada Capital Management LP increased its position in CyrusOne by 25.4% in the 4th quarter. Brasada Capital Management LP now owns 54,778 shares of the real estate investment trust’s stock valued at $3,584,000 after acquiring an additional 11,108 shares during the period. First Hawaiian Bank increased its position in CyrusOne by 8.6% in the 4th quarter. First Hawaiian Bank now owns 12,017 shares of the real estate investment trust’s stock valued at $786,000 after acquiring an additional 952 shares during the period. Finally, Lake Street Financial LLC increased its position in CyrusOne by 5.1% in the 4th quarter. Lake Street Financial LLC now owns 12,275 shares of the real estate investment trust’s stock valued at $803,000 after acquiring an additional 600 shares during the period.
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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