Cornerstone Wealth Management LLC increased its position in CyrusOne Inc (NASDAQ:CONE) by 224.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,020 shares of the real estate investment trust’s stock after acquiring an additional 33,214 shares during the period. Cornerstone Wealth Management LLC’s holdings in CyrusOne were worth $788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of CONE. Oakbrook Investments LLC increased its stake in shares of CyrusOne by 41.8% in the 3rd quarter. Oakbrook Investments LLC now owns 6,450 shares of the real estate investment trust’s stock valued at $409,000 after purchasing an additional 1,900 shares in the last quarter. Aperio Group LLC increased its stake in shares of CyrusOne by 7.1% in the 3rd quarter. Aperio Group LLC now owns 77,477 shares of the real estate investment trust’s stock valued at $4,912,000 after purchasing an additional 5,126 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of CyrusOne by 7.1% in the 3rd quarter. Louisiana State Employees Retirement System now owns 28,700 shares of the real estate investment trust’s stock valued at $1,820,000 after purchasing an additional 1,900 shares in the last quarter. Raymond James Trust N.A. increased its stake in shares of CyrusOne by 22.4% in the 3rd quarter. Raymond James Trust N.A. now owns 10,405 shares of the real estate investment trust’s stock valued at $660,000 after purchasing an additional 1,905 shares in the last quarter. Finally, First Hawaiian Bank purchased a new position in shares of CyrusOne in the 3rd quarter valued at about $215,000. Institutional investors own 91.72% of the company’s stock.
Several equities analysts recently weighed in on CONE shares. BidaskClub upgraded CyrusOne from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 7th. Bank of America lifted their price objective on CyrusOne from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, July 13th. Stifel Nicolaus initiated coverage on CyrusOne in a report on Tuesday, July 17th. They issued a “buy” rating and a $70.00 price objective on the stock. BMO Capital Markets initiated coverage on CyrusOne in a report on Tuesday, July 17th. They issued an “outperform” rating and a $73.00 price objective on the stock. Finally, Credit Suisse Group set a $73.00 price objective on CyrusOne and gave the stock a “buy” rating in a report on Wednesday, August 1st. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. CyrusOne has an average rating of “Buy” and an average price target of $67.81.
In other news, EVP Robert M. Jackson sold 1,795 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $65.27, for a total transaction of $117,159.65. Following the transaction, the executive vice president now directly owns 25,497 shares in the company, valued at approximately $1,664,189.19. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Venkatesh S. Durvasula sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $64.96, for a total value of $324,800.00. Following the transaction, the insider now owns 227,712 shares in the company, valued at $14,792,171.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,169 shares of company stock worth $1,602,197. Insiders own 1.64% of the company’s stock.
CONE stock opened at $55.48 on Friday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.00 and a current ratio of 0.64. CyrusOne Inc has a 12-month low of $43.49 and a 12-month high of $69.01. The stock has a market capitalization of $5.63 billion, a P/E ratio of 16.18, a PEG ratio of 1.00 and a beta of 1.05.
CyrusOne (NASDAQ:CONE) last issued its earnings results on Tuesday, October 30th. The real estate investment trust reported ($0.43) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by ($1.23). The company had revenue of $206.60 million for the quarter, compared to analyst estimates of $209.33 million. CyrusOne had a return on equity of 5.68% and a net margin of 14.07%. The company’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.79 earnings per share. As a group, analysts expect that CyrusOne Inc will post 3.26 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Stockholders of record on Wednesday, January 2nd will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Monday, December 31st. CyrusOne’s dividend payout ratio is currently 58.97%.
CyrusOne Company Profile
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 200 Fortune 1000 companies.
Featured Story: Asset Allocation and Your Retirement
Receive News & Ratings for CyrusOne Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CyrusOne and related companies with MarketBeat.com's FREE daily email newsletter.