CyrusOne Inc (CONE) Raised to Overweight at Mitsubishi UFJ Financial Group
CyrusOne Inc (NASDAQ:CONE) was upgraded by investment analysts at Mitsubishi UFJ Financial Group from a “neutral” rating to an “overweight” rating in a note issued to investors on Tuesday.
CONE has been the topic of several other research reports. William Blair began coverage on shares of CyrusOne in a report on Friday, September 22nd. They set an “outperform” rating on the stock. Zacks Investment Research upgraded shares of CyrusOne from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a report on Tuesday, July 11th. KeyCorp reiterated a “hold” rating on shares of CyrusOne in a research note on Tuesday, September 12th. Morgan Stanley reiterated an “overweight” rating and issued a $63.00 target price (up previously from $58.00) on shares of CyrusOne in a research note on Friday, August 25th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $64.00 target price (up previously from $62.00) on shares of CyrusOne in a research note on Friday, August 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. CyrusOne presently has a consensus rating of “Buy” and an average target price of $62.14.
CyrusOne (NASDAQ:CONE) last released its quarterly earnings data on Monday, October 30th. The real estate investment trust reported ($0.61) earnings per share for the quarter, missing the Thomson Reuters’ 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 analyst estimates of $177.62 million. During the same quarter in the previous year, the company posted $0.67 EPS. The business’s quarterly revenue was up 21.9% on a year-over-year basis.
In related news, EVP Robert M. Jackson sold 1,890 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 24,296 shares in the company, valued at $1,433,464. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.64% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in CyrusOne by 5.1% during the second quarter. Vanguard Group Inc. now owns 12,464,124 shares of the real estate investment trust’s stock valued at $694,875,000 after buying an additional 602,662 shares during the period. BlackRock Inc. grew its position in CyrusOne by 6.3% during the second quarter. BlackRock Inc. now owns 7,362,899 shares of the real estate investment trust’s stock valued at $410,481,000 after buying an additional 433,166 shares during the period. State Street Corp grew its position in CyrusOne by 6.6% during the second quarter. State Street Corp now owns 2,073,936 shares of the real estate investment trust’s stock valued at $115,625,000 after buying an additional 129,125 shares during the period. Cbre Clarion Securities LLC bought a new position in CyrusOne during the second quarter valued at about $93,042,000. Finally, Westfield Capital Management Co. LP grew its position in CyrusOne by 4.7% during the second quarter. Westfield Capital Management Co. LP now owns 1,160,063 shares of the real estate investment trust’s stock valued at $64,674,000 after buying an additional 51,871 shares during the period. Institutional investors own 97.17% 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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