CyrusOne Inc (CONE) Given Average Rating of “Buy” by Analysts
Shares of CyrusOne Inc (NASDAQ:CONE) have been given a consensus rating of “Buy” by the sixteen ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $58.62.
A number of brokerages recently issued reports on CONE. Zacks Investment Research upgraded shares of CyrusOne from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a research report on Tuesday, July 11th. TheStreet lowered shares of CyrusOne from a “b-” rating to a “c” rating in a research report on Wednesday, May 3rd. Cowen and Company raised their price objective on shares of CyrusOne from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, June 23rd. Stifel Nicolaus restated a “buy” rating on shares of CyrusOne in a research report on Tuesday, April 25th. Finally, Mitsubishi UFJ Financial Group began coverage on shares of CyrusOne in a research report on Tuesday, April 25th. They set a “neutral” rating and a $54.00 price objective for the company.
Shares of CyrusOne (NASDAQ CONE) opened at 58.08 on Monday. The firm’s market cap is $4.88 billion. CyrusOne has a one year low of $38.80 and a one year high of $59.35.
CyrusOne (NASDAQ:CONE) last released its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.72 EPS for the quarter, topping the consensus estimate of $0.68 by $0.04. The business had revenue of $149.30 million during the quarter, compared to analyst estimates of $150.63 million. CyrusOne had a negative net margin of 2.87% and a positive return on equity of 2.27%. On average, equities analysts predict that CyrusOne will post ($0.10) earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date was Wednesday, June 28th. CyrusOne’s dividend payout ratio (DPR) is -884.16%.
In other CyrusOne news, insider Kevin L. Timmons sold 8,600 shares of the stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $57.89, for a total transaction of $497,854.00. Following the transaction, the insider now owns 170,137 shares in the company, valued at $9,849,230.93. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gary J. Wojtaszek sold 38,294 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 511,621 shares in the company, valued at approximately $29,679,134.21. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 126,894 shares of company stock worth $7,342,489. Insiders own 1.64% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Insight Capital Research & Management Inc. bought a new stake in shares of CyrusOne during the second quarter valued at about $3,178,000. Forsta AP Fonden purchased a new position in shares of CyrusOne during the second quarter valued at approximately $1,305,000. State Treasurer State of Michigan boosted its position in shares of CyrusOne by 6.6% in the second quarter. State Treasurer State of Michigan now owns 32,200 shares of the real estate investment trust’s stock valued at $1,795,000 after buying an additional 2,000 shares during the period. Aperio Group LLC boosted its position in shares of CyrusOne by 18.2% in the second quarter. Aperio Group LLC now owns 59,271 shares of the real estate investment trust’s stock valued at $3,304,000 after buying an additional 9,134 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position in shares of CyrusOne by 8.5% in the second quarter. Louisiana State Employees Retirement System now owns 20,400 shares of the real estate investment trust’s stock valued at $1,137,000 after buying an additional 1,600 shares during the period. Institutional investors own 99.31% 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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