Cowen and Company restated their buy rating on shares of CyrusOne Inc (NASDAQ:CONE) in a research report report published on Friday, July 28th. Cowen and Company currently has a $72.00 price target on the real estate investment trust’s stock.
Other equities research analysts have also issued reports about the stock. Barclays PLC increased their target price on shares of CyrusOne from $53.00 to $57.00 and gave the stock an overweight rating in a research note on Tuesday, April 25th. Macquarie reissued an outperform rating and set a $58.00 target price on shares of CyrusOne in a research note on Tuesday, July 4th. Stifel Nicolaus increased their target price on shares of CyrusOne from $56.00 to $60.00 and gave the stock a buy rating in a research note on Friday, May 5th. BidaskClub lowered shares of CyrusOne from a strong-buy rating to a buy rating in a research note on Thursday, June 29th. Finally, Morgan Stanley reissued an overweight rating and set a $58.00 target price (up from $56.00) on shares of CyrusOne in a research note on Wednesday, May 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $59.29.
CyrusOne (CONE) traded down 2.66% during midday trading on Friday, reaching $56.44. The company’s stock had a trading volume of 862,407 shares. The stock’s 50 day moving average price is $57.51 and its 200-day moving average price is $53.40. The stock’s market cap is $4.52 billion. CyrusOne has a one year low of $38.80 and a one year high of $60.55.
CyrusOne (NASDAQ:CONE) last posted its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.03. CyrusOne had a negative net margin of 4.35% and a positive return on equity of 1.30%. The business had revenue of $166.90 million for the quarter, compared to analyst estimates of $165.71 million. During the same period in the prior year, the company posted $0.67 EPS. The company’s revenue for the quarter was up 28.3% on a year-over-year basis. On average, analysts forecast that CyrusOne will post ($0.11) EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.68 annualized dividend and a dividend yield of 2.98%. CyrusOne’s dividend payout ratio (DPR) is presently -541.92%.
In other CyrusOne news, CEO Gary J. Wojtaszek sold 38,294 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $58.01, for a total value of $2,221,434.94. Following the completion of the sale, the chief executive officer now owns 511,621 shares in the company, valued at approximately $29,679,134.21. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gary J. Wojtaszek sold 80,000 shares of the stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $57.79, for a total transaction of $4,623,200.00. Following the completion of the sale, the insider now owns 511,621 shares of the company’s stock, valued at approximately $29,566,577.59. The disclosure for this sale can be found here. In the last quarter, insiders sold 126,894 shares of company stock valued at $7,342,489. 1.64% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its stake in CyrusOne by 20.5% in the first quarter. PNC Financial Services Group Inc. now owns 2,280 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 388 shares during the last quarter. Public Employees Retirement Association of Colorado increased its stake in CyrusOne by 21.6% in the second quarter. Public Employees Retirement Association of Colorado now owns 2,725 shares of the real estate investment trust’s stock worth $152,000 after buying an additional 484 shares during the last quarter. Perigon Wealth Management LLC increased its stake in CyrusOne by 941.7% in the first quarter. Perigon Wealth Management LLC now owns 3,125 shares of the real estate investment trust’s stock worth $162,000 after buying an additional 2,825 shares during the last quarter. Janney Capital Management LLC acquired a new stake in CyrusOne during the second quarter worth approximately $210,000. Finally, Pitcairn Co. purchased a new stake in CyrusOne during the first quarter valued at $204,000. Institutional investors own 99.34% of the company’s stock.
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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