Comerica Bank Raises Holdings in CyrusOne Inc (CONE)
Comerica Bank raised its position in CyrusOne Inc (NASDAQ:CONE) by 65.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,600 shares of the real estate investment trust’s stock after buying an additional 40,614 shares during the quarter. Comerica Bank owned 0.11% of CyrusOne worth $6,336,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CONE. IFP Advisors Inc grew its holdings in CyrusOne by 232.6% in the 3rd quarter. IFP Advisors Inc now owns 1,713 shares of the real estate investment trust’s stock valued at $101,000 after buying an additional 1,198 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of CyrusOne by 3,032.8% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 1,911 shares of the real estate investment trust’s stock valued at $113,000 after acquiring an additional 1,850 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of CyrusOne by 20.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,280 shares of the real estate investment trust’s stock valued at $116,000 after acquiring an additional 388 shares during the period. Almanack Investment Partners LLC. bought a new stake in shares of CyrusOne during the 2nd quarter valued at $124,000. Finally, Public Employees Retirement Association of Colorado lifted its position in shares of CyrusOne by 21.6% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 2,725 shares of the real estate investment trust’s stock valued at $152,000 after acquiring an additional 484 shares during the period. 95.14% of the stock is currently owned by hedge funds and other institutional investors.
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CyrusOne Inc (NASDAQ CONE) opened at $61.15 on Tuesday. CyrusOne Inc has a fifty-two week low of $40.48 and a fifty-two week high of $65.73. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.48 and a quick ratio of 0.48. The stock has a market capitalization of $5,640.00, a PE ratio of 20.99, a price-to-earnings-growth ratio of 1.11 and a beta of 0.81.
CyrusOne (NASDAQ:CONE) last issued its earnings results on Monday, October 30th. The real estate investment trust reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $175.30 million during the quarter, compared to analyst estimates of $177.62 million. During the same period in the previous year, the company earned $0.67 EPS. CyrusOne’s revenue for the quarter was up 21.9% on a year-over-year basis. equities analysts forecast that CyrusOne Inc will post 3.09 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be paid a $0.42 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.68 annualized dividend and a dividend yield of 2.75%. CyrusOne’s payout ratio is -171.43%.
In other news, insider Venkatesh S. Durvasula sold 13,500 shares of the stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $60.20, for a total value of $812,700.00. Following the completion of the sale, the insider now owns 214,063 shares of the company’s stock, valued at $12,886,592.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.64% of the company’s stock.
CONE has been the subject of a number of recent analyst reports. BidaskClub upgraded CyrusOne from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 16th. Deutsche Bank AG reiterated a “buy” rating and set a $71.00 target price on shares of CyrusOne in a research report on Friday, November 10th. Cowen and Company reiterated a “buy” rating and set a $68.00 target price on shares of CyrusOne in a research report on Thursday, September 21st. Mitsubishi UFJ Financial Group upgraded CyrusOne from a “neutral” rating to an “overweight” rating in a research report on Tuesday, October 31st. Finally, Morgan Stanley upped their target price on CyrusOne from $63.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. CyrusOne presently has an average rating of “Buy” and a consensus target price of $63.14.
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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