CyrusOne’s (CONE) “Buy” Rating Reaffirmed at Stifel Nicolaus
CyrusOne Inc (NASDAQ:CONE)‘s stock had its “buy” rating reissued by stock analysts at Stifel Nicolaus in a report released on Thursday. They currently have a $66.00 price objective on the real estate investment trust’s stock. Stifel Nicolaus’ price target suggests a potential upside of 7.11% from the stock’s current price.
CONE has been the topic of several other research reports. Zacks Investment Research upgraded shares of CyrusOne from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research report on Tuesday, July 11th. KeyCorp restated a “hold” rating on shares of CyrusOne in a research report on Tuesday. Morgan Stanley restated an “overweight” rating and issued a $63.00 price target (up previously from $58.00) on shares of CyrusOne in a research report on Friday, August 25th. Cowen and Company lifted their price target on shares of CyrusOne from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, June 23rd. Finally, Deutsche Bank AG restated a “buy” rating and issued a $64.00 price target (up previously from $62.00) on shares of CyrusOne in a research report on Friday, August 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $61.08.
CyrusOne (NASDAQ:CONE) traded down 1.30% during midday trading on Thursday, reaching $61.62. The company had a trading volume of 1,409,200 shares. CyrusOne has a 52-week low of $38.80 and a 52-week high of $65.73.
CyrusOne (NASDAQ:CONE) last posted its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.03. The firm had revenue of $166.90 million for the quarter, compared to analyst estimates of $165.71 million. CyrusOne had a negative net margin of 4.35% and a positive return on equity of 1.30%. The firm’s quarterly revenue was up 28.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.67 earnings per share. On average, equities analysts predict that CyrusOne will post ($0.21) earnings per share for the current year.
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In other CyrusOne news, EVP Robert M. Jackson sold 1,890 shares of CyrusOne stock in a transaction on Monday, August 14th. The shares were sold at an average price of $59.00, for a total transaction of $111,510.00. Following the completion of the sale, the executive vice president now owns 24,296 shares of the company’s stock, valued at approximately $1,433,464. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.64% of the company’s stock.
Several large investors have recently modified their holdings of CONE. BlackRock Inc. boosted its stake in shares of CyrusOne by 9,082.1% during the 1st quarter. BlackRock Inc. now owns 6,929,733 shares of the real estate investment trust’s stock valued at $356,674,000 after buying an additional 6,854,263 shares during the period. Vanguard Group Inc. boosted its stake in shares of CyrusOne by 23.0% during the 1st quarter. Vanguard Group Inc. now owns 11,861,462 shares of the real estate investment trust’s stock valued at $610,510,000 after buying an additional 2,220,488 shares during the period. Cbre Clarion Securities LLC acquired a new stake in shares of CyrusOne during the 2nd quarter valued at $93,042,000. State Street Corp boosted its stake in shares of CyrusOne by 107.4% during the 1st quarter. State Street Corp now owns 1,944,811 shares of the real estate investment trust’s stock valued at $100,098,000 after buying an additional 1,007,158 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its stake in shares of CyrusOne by 1,668.0% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 869,130 shares of the real estate investment trust’s stock valued at $44,734,000 after buying an additional 819,970 shares during the period. 96.73% 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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