Credit Suisse Group set a $73.00 price objective on CyrusOne (NASDAQ:CONE) in a research note published on Wednesday morning. The firm currently has a buy rating on the real estate investment trust’s stock.
CONE has been the subject of several other reports. William Blair assumed coverage on shares of CyrusOne in a report on Friday, September 22nd. They issued an outperform rating for the company. BidaskClub lowered shares of CyrusOne from a hold rating to a sell rating in a research note on Saturday, January 6th. Cowen reiterated a buy rating and issued a $78.00 price target on shares of CyrusOne in a research note on Wednesday, November 1st. Jefferies Group reiterated a buy rating and issued a $69.00 price target on shares of CyrusOne in a research note on Monday, October 16th. Finally, UBS Group upgraded shares of CyrusOne from a neutral rating to an overweight rating in a research note on Thursday, November 2nd. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of Buy and an average target price of $65.08.
Shares of CyrusOne (NASDAQ CONE) traded up $0.32 during midday trading on Wednesday, reaching $55.42. 1,050,000 shares of the company’s stock traded hands, compared to its average volume of 913,237. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 1.56. CyrusOne has a 1-year low of $46.41 and a 1-year high of $65.73. The company has a market cap of $5,060.34, a price-to-earnings ratio of -57.13, a PEG ratio of 0.89 and a beta of 0.79.
CyrusOne (NASDAQ:CONE) last issued its quarterly earnings data on Monday, October 30th. The real estate investment trust reported ($0.61) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($1.37). CyrusOne had a negative return on equity of 3.23% and a negative net margin of 13.60%. The company had revenue of $175.30 million during the quarter, compared to the consensus estimate of $177.62 million. During the same quarter last year, the company posted $0.67 earnings per share. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. research analysts expect that CyrusOne will post 3.08 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Friday, December 29th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Thursday, December 28th. CyrusOne’s dividend payout ratio (DPR) is -173.19%.
In related news, insider Venkatesh S. Durvasula sold 13,500 shares of the stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $60.20, for a total transaction of $812,700.00. Following the sale, the insider now directly owns 214,063 shares of the company’s stock, valued at approximately $12,886,592.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.64% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Ingalls & Snyder LLC grew its position in CyrusOne by 23.5% during the 4th quarter. Ingalls & Snyder LLC now owns 14,000 shares of the real estate investment trust’s stock valued at $833,000 after purchasing an additional 2,665 shares during the last quarter. GW&K Investment Management LLC grew its position in CyrusOne by 26.1% during the 4th quarter. GW&K Investment Management LLC now owns 495,682 shares of the real estate investment trust’s stock valued at $29,508,000 after purchasing an additional 102,569 shares during the last quarter. State of Alaska Department of Revenue grew its position in CyrusOne by 18.4% during the 4th quarter. State of Alaska Department of Revenue now owns 55,380 shares of the real estate investment trust’s stock valued at $3,295,000 after purchasing an additional 8,600 shares during the last quarter. Westpac Banking Corp grew its position in CyrusOne by 24.8% during the 4th quarter. Westpac Banking Corp now owns 64,990 shares of the real estate investment trust’s stock valued at $3,869,000 after purchasing an additional 12,894 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in CyrusOne by 11.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 459,781 shares of the real estate investment trust’s stock valued at $27,371,000 after purchasing an additional 48,925 shares during the last quarter. 96.67% of the stock is currently owned by institutional investors.
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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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