CyrusOne (NASDAQ:CONE) had its price target increased by Raymond James from $68.00 to $72.00 in a report issued on Friday, BenzingaRatingsTable reports. The firm currently has a strong-buy rating on the real estate investment trust’s stock.
A number of other research analysts have also issued reports on CONE. ValuEngine lowered shares of CyrusOne from a buy rating to a hold rating in a research note on Monday, June 3rd. UBS Group lowered shares of CyrusOne from a buy rating to a neutral rating and lowered their target price for the company from $64.00 to $62.00 in a research note on Thursday, June 13th. Deutsche Bank upgraded shares of CyrusOne from a hold rating to a buy rating and set a $63.39 target price on the stock in a research note on Friday, May 17th. Royal Bank of Canada raised their target price on shares of CyrusOne to $68.00 and gave the company a positive rating in a research note on Wednesday, May 8th. Finally, BMO Capital Markets set a $66.00 target price on shares of CyrusOne and gave the company a buy rating in a research note on Friday, May 3rd. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. CyrusOne currently has an average rating of Buy and a consensus price target of $64.80.
NASDAQ:CONE traded up $0.92 during midday trading on Friday, reaching $63.02. The stock had a trading volume of 2,032,230 shares, compared to its average volume of 711,882. CyrusOne has a 1-year low of $48.94 and a 1-year high of $69.01. The business has a fifty day moving average price of $58.83. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.59 and a quick ratio of 1.59. The firm has a market capitalization of $6.50 billion, a PE ratio of 19.04, a P/E/G ratio of 1.13 and a beta of 0.65.
CyrusOne (NASDAQ:CONE) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.09. CyrusOne had a negative net margin of 7.44% and a negative return on equity of 2.49%. The business had revenue of $251.50 million for the quarter, compared to analyst estimates of $238.01 million. During the same period last year, the business posted $0.81 EPS. CyrusOne’s revenue was up 27.7% compared to the same quarter last year. As a group, equities research analysts expect that CyrusOne will post 3.39 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 27th will be issued a $0.50 dividend. The ex-dividend date is Thursday, September 26th. This is an increase from CyrusOne’s previous quarterly dividend of $0.46. This represents a $2.00 dividend on an annualized basis and a yield of 3.17%. CyrusOne’s dividend payout ratio is 55.59%.
Institutional investors have recently modified their holdings of the business. Sageworth Trust Co bought a new stake in CyrusOne in the 1st quarter valued at $26,000. Lenox Wealth Management Inc. bought a new stake in CyrusOne in the 1st quarter valued at $26,000. Cullen Frost Bankers Inc. boosted its holdings in CyrusOne by 190.8% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 538 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 353 shares during the period. Tortoise Index Solutions LLC bought a new stake in CyrusOne in the 1st quarter valued at $40,000. Finally, Nvwm LLC boosted its holdings in CyrusOne by 69.6% in the 1st quarter. Nvwm LLC now owns 916 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 376 shares during the period. 98.04% of the stock is owned by hedge funds and other institutional investors.
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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