Zacks Investment Research upgraded shares of CyrusOne (NASDAQ:CONE) from a hold rating to a buy rating in a research report report published on Wednesday morning, Zacks.com reports. The brokerage currently has $81.00 price objective on the real estate investment trust’s stock.
According to Zacks, “CyrusOne Inc. is a real estate investment trust engaged in providing enterprise data centre colocation, engineering facilities with the highest power redundancy (2N architecture) and power-density infrastructure services in the United States, Europe, and Asia. CyrusOne Inc. is headquartered in Carrollton, United States. “
Several other equities research analysts have also recently weighed in on the company. TheStreet cut CyrusOne from a b- rating to a c rating in a research note on Wednesday, July 31st. BidaskClub raised CyrusOne from a buy rating to a strong-buy rating in a research note on Thursday, September 5th. BMO Capital Markets reissued a buy rating and issued a $66.00 price target on shares of CyrusOne in a research note on Monday, August 5th. Stifel Nicolaus reissued a buy rating on shares of CyrusOne in a research note on Friday, August 16th. Finally, Raymond James increased their price target on CyrusOne from $68.00 to $72.00 and gave the company a strong-buy rating in a research note on Friday, August 2nd. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. CyrusOne currently has a consensus rating of Buy and a consensus price target of $67.11.
Shares of CONE stock traded down $0.52 on Wednesday, hitting $73.65. The company had a trading volume of 97,526 shares, compared to its average volume of 1,050,586. The firm has a market cap of $8.34 billion, a P/E ratio of 22.25, a P/E/G ratio of 1.38 and a beta of 0.55. The stock’s 50-day moving average is $67.26 and its two-hundred day moving average is $59.63. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.58 and a current ratio of 1.58. CyrusOne has a twelve month low of $48.94 and a twelve month high of $75.48.
CyrusOne (NASDAQ:CONE) last issued its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.09. The company had revenue of $251.50 million during the quarter, compared to analysts’ expectations of $238.01 million. CyrusOne had a negative return on equity of 2.45% and a negative net margin of 7.44%. The business’s quarterly revenue was up 27.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.81 earnings per share. Equities research analysts predict that CyrusOne will post 3.54 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a dividend of $0.50 per share. The ex-dividend date is Thursday, September 26th. This represents a $2.00 annualized dividend and a yield of 2.72%. This is a boost from CyrusOne’s previous quarterly dividend of $0.46. CyrusOne’s dividend payout ratio (DPR) is currently 55.59%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CONE. Comerica Securities Inc. acquired a new stake in CyrusOne during the fourth quarter worth approximately $225,000. Dimensional Fund Advisors LP grew its stake in CyrusOne by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,443,931 shares of the real estate investment trust’s stock worth $76,355,000 after purchasing an additional 37,467 shares during the period. Geode Capital Management LLC grew its stake in CyrusOne by 10.7% during the fourth quarter. Geode Capital Management LLC now owns 1,094,343 shares of the real estate investment trust’s stock worth $57,868,000 after purchasing an additional 105,930 shares during the period. Crossmark Global Holdings Inc. grew its stake in CyrusOne by 3.1% during the first quarter. Crossmark Global Holdings Inc. now owns 13,120 shares of the real estate investment trust’s stock worth $688,000 after purchasing an additional 400 shares during the period. Finally, California Public Employees Retirement System grew its stake in CyrusOne by 12.3% during the first quarter. California Public Employees Retirement System now owns 138,009 shares of the real estate investment trust’s stock worth $7,237,000 after purchasing an additional 15,077 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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