CyrusOne (NASDAQ:CONE) Coverage Initiated by Analysts at Wolfe Research

Wolfe Research assumed coverage on shares of CyrusOne (NASDAQ:CONE) in a report issued on Wednesday morning, FinViz reports. The firm issued a peer perform rating and a $80.00 target price on the real estate investment trust’s stock.

Several other equities analysts also recently weighed in on CONE. Truist downgraded CyrusOne from a buy rating to a hold rating and lowered their target price for the company from $92.00 to $75.00 in a research report on Thursday, July 29th. Wells Fargo & Company downgraded CyrusOne from an overweight rating to an equal weight rating and lowered their price objective for the company from $80.00 to $78.00 in a research report on Wednesday. TD Securities boosted their price objective on CyrusOne from $86.00 to $88.00 and gave the company a buy rating in a research report on Friday, July 30th. Barclays boosted their price objective on CyrusOne from $77.00 to $78.00 and gave the company an equal weight rating in a research report on Wednesday, August 25th. Finally, Truist Securities downgraded CyrusOne from a buy rating to a hold rating and lowered their price objective for the company from $92.00 to $75.00 in a research report on Thursday, July 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and an average price target of $78.85.

CONE stock opened at $76.20 on Wednesday. The company has a market cap of $9.45 billion, a P/E ratio of 1,905.00, a price-to-earnings-growth ratio of 0.85 and a beta of 0.40. CyrusOne has a 1 year low of $61.64 and a 1 year high of $82.69. The company has a debt-to-equity ratio of 1.39, a current ratio of 2.63 and a quick ratio of 2.63. The stock’s fifty day moving average price is $76.56 and its 200-day moving average price is $74.06.

CyrusOne (NASDAQ:CONE) last released its earnings results on Tuesday, July 27th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by ($0.92). CyrusOne had a net margin of 0.66% and a return on equity of 0.05%. As a group, analysts expect that CyrusOne will post 4 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 8th. Stockholders of record on Friday, September 24th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.73%. This is a boost from CyrusOne’s previous quarterly dividend of $0.51. The ex-dividend date was Thursday, September 23rd. CyrusOne’s payout ratio is 53.33%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cohen & Steers Inc. increased its stake in CyrusOne by 1.3% during the first quarter. Cohen & Steers Inc. now owns 20,466,139 shares of the real estate investment trust’s stock worth $1,385,985,000 after acquiring an additional 256,179 shares during the last quarter. Vanguard Group Inc. increased its stake in CyrusOne by 1.4% during the second quarter. Vanguard Group Inc. now owns 17,636,554 shares of the real estate investment trust’s stock worth $1,261,367,000 after acquiring an additional 251,201 shares during the last quarter. BlackRock Inc. increased its stake in CyrusOne by 0.3% during the second quarter. BlackRock Inc. now owns 14,377,750 shares of the real estate investment trust’s stock worth $1,028,297,000 after acquiring an additional 48,586 shares during the last quarter. State Street Corp increased its stake in CyrusOne by 6.9% during the second quarter. State Street Corp now owns 4,426,311 shares of the real estate investment trust’s stock worth $318,770,000 after acquiring an additional 287,276 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its stake in CyrusOne by 23.8% during the first quarter. Nuveen Asset Management LLC now owns 4,065,863 shares of the real estate investment trust’s stock worth $275,340,000 after acquiring an additional 781,398 shares during the last quarter.

CyrusOne Company Profile

CyrusOne, Inc is a real estate investment trust, which specializes in the enterprise-class, carrier-neutral data center properties. The firm provides data center facilities that protect and ensure the continued operation of IT infrastructure. Its data center properties are purpose-built facilities with redundant power, cooling and telecommunications systems and that are not network-specific, enabling customer interconnectivity to a range of telecommunications carriers.

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Analyst Recommendations for CyrusOne (NASDAQ:CONE)

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