CyrusOne Inc (CONE) Receives “Buy” Rating from Deutsche Bank AG
Deutsche Bank AG reiterated their buy rating on shares of CyrusOne Inc (NASDAQ:CONE) in a research report released on Friday. They currently have a $71.00 price target on the real estate investment trust’s stock.
Several other research firms also recently weighed in on CONE. KeyCorp restated a hold rating on shares of CyrusOne in a research note on Tuesday, September 12th. Morgan Stanley restated an overweight rating and issued a $63.00 price target (up from $58.00) on shares of CyrusOne in a research note on Friday, August 25th. Stifel Nicolaus restated a buy rating and issued a $66.00 price target on shares of CyrusOne in a research note on Thursday, September 14th. Mitsubishi UFJ Financial Group upgraded CyrusOne from a neutral rating to an overweight rating in a research note on Tuesday, October 31st. Finally, UBS AG restated a buy rating and issued a $70.00 price target (up from $63.00) on shares of CyrusOne in a research note on Wednesday, November 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $62.64.
Shares of CyrusOne (NASDAQ:CONE) traded down $0.48 during trading hours on Friday, hitting $61.80. The company had a trading volume of 447,300 shares, compared to its average volume of 1,066,920. CyrusOne has a 52 week low of $38.80 and a 52 week high of $65.73. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 1.56. The company has a market cap of $5,850.00, a P/E ratio of 20.88, a PEG ratio of 1.02 and a beta of 0.81.
CyrusOne (NASDAQ:CONE) last posted its quarterly earnings results on Monday, October 30th. The real estate investment trust reported ($0.61) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($1.37). CyrusOne had a negative return on equity of 3.23% and a negative net margin of 13.60%. The business had revenue of $175.30 million during the quarter, compared to the consensus estimate of $177.62 million. During the same quarter in the previous year, the company earned $0.67 earnings per share. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. research analysts predict that CyrusOne will post 3.09 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.68 annualized dividend and a yield of 2.72%. CyrusOne’s payout ratio is presently -171.43%.
In related news, insider Venkatesh S. Durvasula sold 13,500 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $60.20, for a total transaction of $812,700.00. Following the sale, the insider now owns 214,063 shares in the company, valued at approximately $12,886,592.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.64% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Bellwether Investment Group LLC increased its stake in CyrusOne by 1.7% in the second quarter. Bellwether Investment Group LLC now owns 5,710 shares of the real estate investment trust’s stock worth $318,000 after purchasing an additional 97 shares during the period. Zevenbergen Capital Investments LLC increased its stake in CyrusOne by 1.6% in the second quarter. Zevenbergen Capital Investments LLC now owns 11,405 shares of the real estate investment trust’s stock worth $636,000 after purchasing an additional 175 shares during the period. Campbell Newman Asset Management Inc. increased its stake in CyrusOne by 4.8% in the second quarter. Campbell Newman Asset Management Inc. now owns 4,404 shares of the real estate investment trust’s stock worth $246,000 after purchasing an additional 201 shares during the period. Teacher Retirement System of Texas increased its stake in CyrusOne by 6.3% in the second quarter. Teacher Retirement System of Texas now owns 6,297 shares of the real estate investment trust’s stock worth $351,000 after purchasing an additional 372 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in CyrusOne by 20.5% in the first quarter. PNC Financial Services Group Inc. now owns 2,280 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 388 shares during the period. Institutional investors own 96.36% of the company’s stock.
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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