CyrusOne Inc (NASDAQ:CONE) – KeyCorp issued their FY2019 earnings estimates for shares of CyrusOne in a research note issued on Sunday. KeyCorp analyst J. Sadler expects that the real estate investment trust will post earnings of $3.94 per share for the year.
CONE has been the topic of several other reports. BidaskClub downgraded CyrusOne from a “sell” rating to a “strong sell” rating in a report on Saturday, January 20th. Credit Suisse Group set a $73.00 price objective on CyrusOne and gave the stock a “buy” rating in a report on Wednesday, February 21st. Royal Bank of Canada restated a “buy” rating on shares of CyrusOne in a report on Thursday, March 1st. Zacks Investment Research downgraded CyrusOne from a “hold” rating to a “sell” rating in a report on Tuesday, January 9th. Finally, Morgan Stanley lifted their price objective on CyrusOne from $63.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, November 17th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $66.62.
Hedge funds have recently made changes to their positions in the business. SeaCrest Wealth Management LLC acquired a new position in CyrusOne during the 4th quarter worth $127,000. Pitcairn Co. acquired a new position in CyrusOne during the 4th quarter worth $203,000. Buckley Wealth Management LLC acquired a new position in CyrusOne during the 4th quarter worth $207,000. Cipher Capital LP acquired a new position in CyrusOne during the 3rd quarter worth $221,000. Finally, Timber Hill LLC acquired a new position in CyrusOne during the 3rd quarter worth $224,000. Institutional investors own 99.54% of the company’s stock.
In related news, insider Kevin L. Timmons sold 11,465 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $49.39, for a total transaction of $566,256.35. Following the completion of the transaction, the insider now owns 177,843 shares in the company, valued at approximately $8,783,665.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.64% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Thursday, March 29th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.84 dividend on an annualized basis and a yield of 3.51%. This is a positive change from CyrusOne’s previous quarterly dividend of $0.42. CyrusOne’s payout ratio is currently -175.00%.
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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