Forsta AP Fonden Invests $1.31 Million in CyrusOne Inc (CONE)
Forsta AP Fonden acquired a new position in CyrusOne Inc (NASDAQ:CONE) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 23,400 shares of the real estate investment trust’s stock, valued at approximately $1,305,000.
Several other large investors have also made changes to their positions in CONE. Vanguard Group Inc. raised its stake in shares of CyrusOne by 23.0% in the first quarter. Vanguard Group Inc. now owns 11,861,462 shares of the real estate investment trust’s stock worth $610,510,000 after buying an additional 2,220,488 shares during the last quarter. BlackRock Inc. raised its stake in shares of CyrusOne by 9,082.1% in the first quarter. BlackRock Inc. now owns 6,929,733 shares of the real estate investment trust’s stock worth $356,674,000 after buying an additional 6,854,263 shares during the last quarter. State Street Corp raised its stake in shares of CyrusOne by 107.4% in the first quarter. State Street Corp now owns 1,944,811 shares of the real estate investment trust’s stock worth $100,098,000 after buying an additional 1,007,158 shares during the last quarter. Bank of America Corp DE raised its stake in shares of CyrusOne by 30.4% in the first quarter. Bank of America Corp DE now owns 1,527,713 shares of the real estate investment trust’s stock worth $78,631,000 after buying an additional 356,343 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of CyrusOne by 41.3% in the first quarter. JPMorgan Chase & Co. now owns 1,426,894 shares of the real estate investment trust’s stock worth $73,441,000 after buying an additional 417,022 shares during the last quarter. Hedge funds and other institutional investors own 99.34% of the company’s stock.
Shares of CyrusOne Inc (CONE) opened at 58.59 on Monday. The firm’s market capitalization is $4.69 billion. CyrusOne Inc has a 52-week low of $38.80 and a 52-week high of $60.55.
CyrusOne (NASDAQ:CONE) last announced its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.77 EPS for the quarter, beating the 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 positive return on equity of 1.30% and a negative net margin of 4.35%. The business’s revenue for the quarter was up 28.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.67 earnings per share. Equities research analysts anticipate that CyrusOne Inc will post ($0.11) earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.68 annualized dividend and a dividend yield of 2.87%. CyrusOne’s dividend payout ratio is currently -541.92%.
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Several research analysts recently commented on CONE shares. Credit Suisse Group started coverage on shares of CyrusOne in a research note on Friday, June 30th. They issued an “outperform” rating and a $73.00 target price on the stock. Barclays PLC lifted their target price on shares of CyrusOne from $53.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 25th. Stifel Nicolaus lifted their target price on shares of CyrusOne from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, May 5th. BidaskClub downgraded shares of CyrusOne from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 29th. Finally, Cowen and Company reaffirmed a “buy” rating and issued a $72.00 target price on shares of CyrusOne in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $59.29.
In other news, insider Kevin L. Timmons sold 8,600 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $57.89, for a total transaction of $497,854.00. Following the transaction, the insider now owns 170,137 shares in the company, valued at $9,849,230.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gary J. Wojtaszek sold 80,000 shares of the firm’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $57.79, for a total value of $4,623,200.00. Following the transaction, the insider now owns 511,621 shares in the company, valued at approximately $29,566,577.59. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 126,894 shares of company stock worth $7,342,489. Insiders own 1.64% 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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