Morgan Stanley Increases CyrusOne (NASDAQ:CONE) Price Target to $70.00

CyrusOne (NASDAQ:CONE) had its price objective hoisted by Morgan Stanley from $63.00 to $70.00 in a report published on Friday, November 17th. They currently have an overweight rating on the real estate investment trust’s stock.

Several other analysts also recently commented on the stock. KeyCorp reaffirmed a hold rating on shares of CyrusOne in a report on Tuesday, September 12th. Deutsche Bank reissued a buy rating and set a $71.00 price target on shares of CyrusOne in a report on Friday, November 10th. Stifel Nicolaus restated a buy rating and set a $66.00 price objective on shares of CyrusOne in a research report on Thursday, September 14th. William Blair began coverage on shares of CyrusOne in a research report on Friday, September 22nd. They set an outperform rating for the company. Finally, Jefferies Group reiterated a buy rating and issued a $69.00 target price on shares of CyrusOne in a research report on Monday, October 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $64.15.

CyrusOne (CONE) traded down $3.61 during midday trading on Friday, hitting $57.63. 1,120,676 shares of the company traded hands, compared to its average volume of 1,059,978. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.48 and a current ratio of 0.48. The company has a market cap of $5,591.76, a price-to-earnings ratio of 20.69, a PEG ratio of 1.10 and a beta of 0.79. CyrusOne has a 1 year low of $41.10 and a 1 year high of $65.73.

CyrusOne (NASDAQ:CONE) last issued its quarterly earnings results on Monday, October 30th. The real estate investment trust reported ($0.61) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($1.37). The company had revenue of $175.30 million for the quarter, compared to analyst estimates of $177.62 million. CyrusOne had a negative net margin of 13.60% and a negative return on equity of 3.23%. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS. analysts anticipate that CyrusOne will post 3.09 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.68 dividend on an annualized basis and a yield of 2.92%. CyrusOne’s dividend payout ratio is currently -173.19%.

In related news, insider Venkatesh S. Durvasula sold 13,500 shares of CyrusOne stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $60.20, for a total value of $812,700.00. Following the completion of the transaction, the insider now owns 214,063 shares in the company, valued at $12,886,592.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.64% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the stock. IFP Advisors Inc raised its holdings in CyrusOne by 232.6% during the third quarter. IFP Advisors Inc now owns 1,713 shares of the real estate investment trust’s stock worth $101,000 after purchasing an additional 1,198 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in CyrusOne by 3,032.8% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 1,911 shares of the real estate investment trust’s stock worth $113,000 after purchasing an additional 1,850 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in CyrusOne by 20.5% during the first quarter. PNC Financial Services Group Inc. now owns 2,280 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 388 shares in the last quarter. Almanack Investment Partners LLC. acquired a new stake in CyrusOne during the second quarter worth approximately $124,000. Finally, Public Employees Retirement Association of Colorado raised its holdings in CyrusOne by 21.6% during the second quarter. Public Employees Retirement Association of Colorado now owns 2,725 shares of the real estate investment trust’s stock worth $152,000 after purchasing an additional 484 shares in the last quarter. Institutional investors own 98.50% of the company’s stock.

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About CyrusOne

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.

Analyst Recommendations for CyrusOne (NASDAQ:CONE)

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