Traders Purchase High Volume of Put Options on CyrusOne (CONE)

CyrusOne Inc (NASDAQ:CONE) saw some unusual options trading activity on Wednesday. Traders bought 1,895 put options on the company. This represents an increase of 1,795% compared to the average volume of 100 put options.

Shares of NASDAQ CONE opened at $59.89 on Thursday. CyrusOne has a 12-month low of $48.94 and a 12-month high of $69.01. The stock has a market capitalization of $6.46 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 1.33 and a beta of 0.87. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.28.

CyrusOne (NASDAQ:CONE) last announced its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.05. CyrusOne had a net margin of 5.54% and a return on equity of 2.15%. The company had revenue of $225.00 million for the quarter, compared to the consensus estimate of $231.36 million. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. On average, equities analysts predict that CyrusOne will post 3.21 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Friday, June 28th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Thursday, June 27th. CyrusOne’s dividend payout ratio (DPR) is presently 55.59%.

In other CyrusOne news, EVP Kevin L. Timmons sold 19,600 shares of CyrusOne stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $51.14, for a total value of $1,002,344.00. Following the transaction, the executive vice president now directly owns 152,965 shares in the company, valued at $7,822,630.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael Klayko acquired 1,955 shares of the company’s stock in a transaction on Monday, March 11th. The stock was acquired at an average price of $51.10 per share, for a total transaction of $99,900.50. Following the completion of the purchase, the director now owns 12,016 shares of the company’s stock, valued at approximately $614,017.60. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Campbell Newman Asset Management Inc. lifted its stake in shares of CyrusOne by 2.4% during the first quarter. Campbell Newman Asset Management Inc. now owns 8,117 shares of the real estate investment trust’s stock valued at $426,000 after buying an additional 188 shares during the period. Quad Cities Investment Group LLC lifted its stake in shares of CyrusOne by 10.0% during the first quarter. Quad Cities Investment Group LLC now owns 2,200 shares of the real estate investment trust’s stock valued at $115,000 after buying an additional 200 shares during the period. Public Employees Retirement Association of Colorado lifted its stake in shares of CyrusOne by 1.7% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 11,792 shares of the real estate investment trust’s stock valued at $624,000 after buying an additional 202 shares during the period. First Hawaiian Bank lifted its stake in shares of CyrusOne by 2.1% during the first quarter. First Hawaiian Bank now owns 11,427 shares of the real estate investment trust’s stock valued at $599,000 after buying an additional 234 shares during the period. Finally, Oakbrook Investments LLC lifted its stake in shares of CyrusOne by 5.4% during the first quarter. Oakbrook Investments LLC now owns 5,850 shares of the real estate investment trust’s stock valued at $307,000 after buying an additional 300 shares during the period. 98.04% of the stock is currently owned by institutional investors.

A number of research analysts have commented on CONE shares. BidaskClub lowered shares of CyrusOne from a “buy” rating to a “hold” rating in a research note on Friday, January 25th. Zacks Investment Research lowered shares of CyrusOne from a “hold” rating to a “strong sell” rating in a research note on Monday, February 11th. BMO Capital Markets reiterated a “buy” rating and set a $68.00 price target on shares of CyrusOne in a research note on Wednesday, February 20th. Wells Fargo & Co reiterated a “buy” rating on shares of CyrusOne in a research note on Thursday, February 21st. Finally, Jefferies Financial Group lowered shares of CyrusOne from a “buy” rating to a “hold” rating and dropped their price target for the stock from $62.00 to $54.00 in a research note on Friday, February 22nd. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $64.50.

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About CyrusOne

CyrusOne (NASDAQ: CONE) is a high-growth real estate investment trust (REIT) specializing in highly reliable enterprise-class, carrier-neutral data center properties. The Company provides mission-critical data center facilities that protect and ensure the continued operation of IT infrastructure for approximately 1,000 customers, including 211 Fortune 1000 companies.

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