Pendal Group Ltd decreased its holdings in shares of CyrusOne Inc (NASDAQ:CONE) by 14.3% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 26,300 shares of the real estate investment trust’s stock after selling 4,400 shares during the period. Pendal Group Ltd’s holdings in CyrusOne were worth $1,667,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Virginia Retirement Systems ET AL acquired a new position in CyrusOne in the third quarter valued at approximately $1,794,000. Pitcairn Co. acquired a new position in CyrusOne in the third quarter valued at approximately $286,000. Daiwa Securities Group Inc. lifted its holdings in CyrusOne by 664.8% in the third quarter. Daiwa Securities Group Inc. now owns 2,469,880 shares of the real estate investment trust’s stock valued at $156,590,000 after acquiring an additional 2,146,941 shares during the period. Sterling Capital Management LLC lifted its holdings in CyrusOne by 4.0% in the third quarter. Sterling Capital Management LLC now owns 44,700 shares of the real estate investment trust’s stock valued at $2,834,000 after acquiring an additional 1,700 shares during the period. Finally, Eii Capital Management Inc. lifted its holdings in CyrusOne by 420.3% in the third quarter. Eii Capital Management Inc. now owns 10,520 shares of the real estate investment trust’s stock valued at $567,000 after acquiring an additional 8,498 shares during the period. Institutional investors and hedge funds own 91.78% of the company’s stock.
Shares of CONE stock opened at $54.82 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market cap of $5.83 billion, a PE ratio of 16.76, a price-to-earnings-growth ratio of 1.10 and a beta of 1.05. CyrusOne Inc has a 1-year low of $43.49 and a 1-year high of $69.01.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Stockholders of record on Wednesday, January 2nd will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Monday, December 31st. CyrusOne’s payout ratio is 58.97%.
A number of brokerages have issued reports on CONE. MED boosted their price target on CyrusOne from $58.00 to $68.00 and gave the company an “overweight” rating in a report on Thursday, August 2nd. BidaskClub downgraded CyrusOne from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 5th. Jefferies Financial Group decreased their price target on CyrusOne from $75.00 to $66.00 and set a “buy” rating for the company in a report on Thursday, November 1st. Cowen decreased their price target on CyrusOne from $79.00 to $67.00 and set a “buy” rating for the company in a report on Thursday, November 1st. They noted that the move was a valuation call. Finally, BMO Capital Markets set a $74.00 price target on CyrusOne and gave the company a “buy” rating in a report on Monday, August 27th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. CyrusOne currently has a consensus rating of “Buy” and a consensus target price of $67.81.
In other news, insider Gary J. Wojtaszek sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $66.50, for a total transaction of $665,000.00. Following the completion of the transaction, the insider now directly owns 519,936 shares of the company’s stock, valued at approximately $34,575,744. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Kevin L. Timmons sold 7,374 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $67.16, for a total value of $495,237.84. Following the transaction, the insider now directly owns 179,490 shares of the company’s stock, valued at $12,054,548.40. The disclosure for this sale can be found here. Corporate insiders own 1.64% of the company’s stock.
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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.
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