Jennison Associates LLC Sells 509,574 Shares of CyrusOne Inc (CONE)
Jennison Associates LLC cut its stake in shares of CyrusOne Inc (NASDAQ:CONE) by 20.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,962,958 shares of the real estate investment trust’s stock after selling 509,574 shares during the period. Jennison Associates LLC’s holdings in CyrusOne were worth $109,435,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Wealthsource Partners LLC increased its stake in CyrusOne by 6.7% in the first quarter. Wealthsource Partners LLC now owns 11,048 shares of the real estate investment trust’s stock valued at $569,000 after buying an additional 690 shares during the period. Alliancebernstein L.P. increased its stake in CyrusOne by 3.8% in the first quarter. Alliancebernstein L.P. now owns 67,319 shares of the real estate investment trust’s stock valued at $3,465,000 after buying an additional 2,494 shares during the period. Point72 Asset Management L.P. acquired a new stake in CyrusOne during the first quarter valued at approximately $7,659,000. American International Group Inc. increased its stake in CyrusOne by 8,513.1% in the first quarter. American International Group Inc. now owns 148,232 shares of the real estate investment trust’s stock valued at $7,630,000 after buying an additional 146,511 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in CyrusOne by 6.0% in the second quarter. Russell Investments Group Ltd. now owns 521,540 shares of the real estate investment trust’s stock valued at $29,031,000 after buying an additional 29,489 shares during the period. 93.41% of the stock is currently owned by institutional investors and hedge funds.
CyrusOne Inc (NASDAQ CONE) opened at 59.41 on Monday. CyrusOne Inc has a 12-month low of $38.80 and a 12-month high of $61.26.
CyrusOne (NASDAQ:CONE) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.03. The company had revenue of $166.90 million for the quarter, compared to analysts’ expectations of $165.71 million. CyrusOne had a negative net margin of 4.35% and a positive return on equity of 1.30%. CyrusOne’s revenue was up 28.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.67 EPS. Equities analysts expect that CyrusOne Inc will post ($0.21) earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.68 annualized dividend and a dividend yield of 2.83%. CyrusOne’s payout ratio is currently -541.92%.
A number of brokerages recently issued reports on CONE. TheStreet downgraded shares of CyrusOne from a “b-” rating to a “c” rating in a report on Wednesday, May 3rd. Stifel Nicolaus increased their price target on shares of CyrusOne from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, May 15th. Mitsubishi UFJ Financial Group began coverage on shares of CyrusOne in a report on Tuesday, April 25th. They set a “neutral” rating and a $54.00 price target on the stock. Cowen and Company increased their price target on shares of CyrusOne from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, June 23rd. Finally, Deutsche Bank AG reissued a “buy” rating and set a $64.00 price target (up from $62.00) on shares of CyrusOne in a report on Friday, August 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $60.69.
In other CyrusOne news, insider Gary J. Wojtaszek sold 80,000 shares of the business’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $57.79, for a total transaction of $4,623,200.00. Following the sale, the insider now directly owns 511,621 shares in the company, valued at approximately $29,566,577.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kevin L. Timmons sold 8,600 shares of the business’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 sale, the insider now owns 170,137 shares in the company, valued at $9,849,230.93. The disclosure for this sale can be found here. Insiders have sold a total of 128,784 shares of company stock worth $7,453,999 over the last 90 days. 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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