CyrusOne Inc (CONE) Upgraded to “Overweight” at UBS AG
CyrusOne Inc (NASDAQ:CONE) was upgraded by stock analysts at UBS AG from a “neutral” rating to an “overweight” rating in a research note issued to investors on Thursday, The Fly reports.
CONE has been the topic of several other reports. Morgan Stanley reaffirmed an “overweight” rating and set a $63.00 target price (up from $58.00) on shares of CyrusOne in a research note on Friday, August 25th. KeyCorp reaffirmed a “hold” rating on shares of CyrusOne in a research note on Tuesday, September 12th. Zacks Investment Research downgraded shares of CyrusOne from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub downgraded shares of CyrusOne from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 10th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $64.00 target price (up from $62.00) on shares of CyrusOne in a research note on Friday, August 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. CyrusOne has an average rating of “Buy” and a consensus target price of $62.14.
CyrusOne (NASDAQ:CONE) last announced its earnings results on Monday, October 30th. The real estate investment trust reported ($0.61) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $175.30 million for the quarter, compared to analysts’ expectations of $177.62 million. During the same period in the previous year, the company earned $0.67 earnings per share. CyrusOne’s quarterly revenue was up 21.9% on a year-over-year basis.
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In other news, EVP Robert M. Jackson sold 1,890 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $59.00, for a total value of $111,510.00. Following the completion of the transaction, the executive vice president now owns 24,296 shares in the company, valued at approximately $1,433,464. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.64% of the company’s stock.
Institutional investors have recently modified their holdings of the company. IFP Advisors Inc boosted its holdings in shares of CyrusOne by 232.6% in the 3rd quarter. IFP Advisors Inc now owns 1,713 shares of the real estate investment trust’s stock valued at $101,000 after buying an additional 1,198 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in CyrusOne by 3,032.8% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 1,911 shares of the real estate investment trust’s stock worth $113,000 after purchasing an additional 1,850 shares during the period. PNC Financial Services Group Inc. boosted its stake in CyrusOne by 20.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,280 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 388 shares during the period. Almanack Investment Partners LLC. acquired a new stake in CyrusOne during the 2nd quarter worth $124,000. Finally, Public Employees Retirement Association of Colorado boosted its stake in CyrusOne by 21.6% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 2,725 shares of the real estate investment trust’s stock worth $152,000 after purchasing an additional 484 shares during the period. Institutional investors and hedge funds own 97.17% of the company’s stock.
CyrusOne Company Profile
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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