Legal & General Group Plc Buys 14,643 Shares of CyrusOne Inc (CONE)
Legal & General Group Plc increased its stake in CyrusOne Inc (NASDAQ:CONE) by 31.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 61,518 shares of the real estate investment trust’s stock after purchasing an additional 14,643 shares during the quarter. Legal & General Group Plc’s holdings in CyrusOne were worth $3,429,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in CONE. BlackRock Inc. raised its holdings in CyrusOne by 9,082.1% in the 1st quarter. BlackRock Inc. now owns 6,929,733 shares of the real estate investment trust’s stock worth $356,674,000 after purchasing an additional 6,854,263 shares during the period. Vanguard Group Inc. raised its holdings in CyrusOne by 23.0% in the 1st quarter. Vanguard Group Inc. now owns 11,861,462 shares of the real estate investment trust’s stock worth $610,510,000 after purchasing an additional 2,220,488 shares during the period. State Street Corp raised its holdings in CyrusOne by 107.4% in the 1st quarter. State Street Corp now owns 1,944,811 shares of the real estate investment trust’s stock worth $100,098,000 after purchasing an additional 1,007,158 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in CyrusOne by 1,668.0% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 869,130 shares of the real estate investment trust’s stock worth $44,734,000 after purchasing an additional 819,970 shares during the period. Finally, Capital Growth Management LP raised its holdings in CyrusOne by 700.0% in the 1st quarter. Capital Growth Management LP now owns 880,000 shares of the real estate investment trust’s stock worth $45,294,000 after purchasing an additional 770,000 shares during the period. 96.73% of the stock is currently owned by institutional investors.
CONE has been the topic of a number of recent research reports. Cowen and Company raised their target price on CyrusOne from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, June 23rd. BidaskClub cut CyrusOne from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 29th. Credit Suisse Group initiated coverage on CyrusOne in a report on Friday, June 30th. They issued an “outperform” rating and a $73.00 target price on the stock. Macquarie reaffirmed an “outperform” rating and issued a $58.00 target price on shares of CyrusOne in a report on Tuesday, July 4th. Finally, Zacks Investment Research raised CyrusOne from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $61.08.
In other CyrusOne news, EVP Robert M. Jackson sold 1,890 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $59.00, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.64% of the company’s stock.
CyrusOne Inc (CONE) opened at 61.79 on Friday. The stock’s 50 day moving average price is $60.96 and its 200-day moving average price is $56.05. CyrusOne Inc has a 12 month low of $38.80 and a 12 month high of $65.73. The stock’s market cap is $5.44 billion.
CyrusOne (NASDAQ:CONE) last issued its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $166.90 million during the quarter, compared to the consensus estimate of $165.71 million. CyrusOne had a negative net margin of 4.35% and a positive return on equity of 1.30%. The company’s revenue was up 28.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 earnings per share. Equities analysts expect that CyrusOne Inc will post ($0.21) EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be given a $0.42 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.72%. CyrusOne’s dividend payout ratio (DPR) is currently -541.92%.
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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