Deutsche Bank AG reaffirmed their buy rating on shares of CyrusOne Inc (NASDAQ:CONE) in a research report released on Friday. They currently have a $71.00 price target on the real estate investment trust’s stock.
A number of other brokerages have also weighed in on CONE. BidaskClub upgraded shares of CyrusOne from a buy rating to a strong-buy rating in a report on Wednesday, August 16th. Cowen and Company reiterated a buy rating and set a $68.00 target price on shares of CyrusOne in a research note on Thursday, September 21st. Mitsubishi UFJ Financial Group upgraded shares of CyrusOne from a neutral rating to an overweight rating in a research note on Tuesday, October 31st. UBS AG reiterated a buy rating and set a $70.00 target price (up from $63.00) on shares of CyrusOne in a research note on Wednesday, November 1st. Finally, Zacks Investment Research lowered shares of CyrusOne from a buy rating to a hold rating in a research note on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $62.64.
Shares of CyrusOne (CONE) traded up $2.32 during midday trading on Friday, reaching $64.12. 1,145,500 shares of the company were exchanged, compared to its average volume of 1,067,279. CyrusOne has a 52 week low of $38.80 and a 52 week high of $65.73. The stock has a market cap of $5,642.90, a price-to-earnings ratio of 20.88, a P/E/G ratio of 1.02 and a beta of 0.81. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.48 and a current ratio of 0.48.
CyrusOne (NASDAQ:CONE) last announced its quarterly earnings data on Monday, October 30th. The real estate investment trust reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($1.37). CyrusOne had a negative return on equity of 3.23% and a negative net margin of 13.60%. The firm had revenue of $175.30 million during the quarter, compared to analysts’ expectations of $177.62 million. During the same quarter in the previous year, the firm earned $0.67 earnings per share. CyrusOne’s revenue was up 21.9% on a year-over-year basis. equities research analysts predict that CyrusOne will post 3.09 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.68 annualized dividend and a dividend yield of 2.62%. CyrusOne’s dividend payout ratio (DPR) is -173.19%.
In other news, insider Venkatesh S. Durvasula sold 13,500 shares of the company’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $60.20, for a total value of $812,700.00. Following the completion of the sale, the insider now directly owns 214,063 shares in the company, valued at approximately $12,886,592.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.64% of the company’s stock.
A number of institutional investors have recently modified their holdings of CONE. Cbre Clarion Securities LLC bought a new position in CyrusOne in the 2nd quarter worth $93,042,000. Santa Barbara Asset Management LLC bought a new position in CyrusOne in the 3rd quarter worth $65,169,000. Janus Henderson Group PLC boosted its holdings in CyrusOne by 971.8% in the 2nd quarter. Janus Henderson Group PLC now owns 839,934 shares of the real estate investment trust’s stock worth $46,826,000 after buying an additional 761,568 shares during the period. Vanguard Group Inc. boosted its holdings in CyrusOne by 5.1% in the 2nd quarter. Vanguard Group Inc. now owns 12,464,124 shares of the real estate investment trust’s stock worth $694,875,000 after buying an additional 602,662 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in CyrusOne by 1,180.9% in the 3rd quarter. Fisher Asset Management LLC now owns 580,216 shares of the real estate investment trust’s stock worth $34,192,000 after buying an additional 534,919 shares during the period. 96.36% of the stock is owned by institutional investors.
CyrusOne Inc is a real estate investment trust. The Company is an owner, operator and developer of enterprise-class, carrier-neutral, multi-tenant data center properties. The Company’s data centers are generally purpose-built facilities with redundant power and cooling. The CyrusOne National IX Platform (the National IX Platform) delivers interconnection across states and between metro-enabled sites within its footprint and beyond.
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