Wells Fargo & Company MN Purchases 247,103 Shares of CyrusOne Inc (CONE)
Wells Fargo & Company MN grew its position in shares of CyrusOne Inc (NASDAQ:CONE) by 108.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 475,305 shares of the real estate investment trust’s stock after acquiring an additional 247,103 shares during the quarter. Wells Fargo & Company MN owned about 0.52% of CyrusOne worth $28,010,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cadence Capital Management LLC increased its holdings in shares of CyrusOne by 36.7% during the third quarter. Cadence Capital Management LLC now owns 5,422 shares of the real estate investment trust’s stock valued at $320,000 after acquiring an additional 1,457 shares in the last quarter. Schroder Investment Management Group bought a new stake in shares of CyrusOne during the third quarter valued at approximately $573,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of CyrusOne by 16.9% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,318 shares of the real estate investment trust’s stock valued at $785,000 after acquiring an additional 1,923 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of CyrusOne by 8.8% during the third quarter. JPMorgan Chase & Co. now owns 1,521,931 shares of the real estate investment trust’s stock valued at $87,725,000 after acquiring an additional 122,465 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of CyrusOne by 22.0% during the third quarter. Legal & General Group Plc now owns 75,037 shares of the real estate investment trust’s stock valued at $4,422,000 after acquiring an additional 13,519 shares in the last quarter. Hedge funds and other institutional investors own 98.49% of the company’s stock.
Several brokerages recently issued reports on CONE. ValuEngine downgraded CyrusOne from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Morgan Stanley upped their price target on CyrusOne from $63.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, November 17th. Deutsche Bank reiterated a “buy” rating and set a $71.00 price target on shares of CyrusOne in a report on Friday, November 10th. Mitsubishi UFJ Financial Group upgraded CyrusOne from a “neutral” rating to an “overweight” rating in a report on Tuesday, October 31st. Finally, UBS upgraded CyrusOne from a “neutral” rating to an “overweight” rating in a report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $64.15.
CyrusOne (NASDAQ:CONE) last announced its quarterly earnings data 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). The business had revenue of $175.30 million during the quarter, compared to the consensus estimate of $177.62 million. CyrusOne had a negative net margin of 13.60% and a negative return on equity of 3.23%. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 EPS. equities research analysts expect that CyrusOne Inc will post 3.1 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Shareholders 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 dividend on an annualized basis and a yield of 2.83%. CyrusOne’s dividend payout ratio (DPR) is presently -171.43%.
In other CyrusOne news, insider Venkatesh S. Durvasula sold 13,500 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 214,063 shares in the company, valued at approximately $12,886,592.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.64% of the stock is owned by corporate insiders.
COPYRIGHT VIOLATION WARNING: This piece was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece on another domain, it was illegally copied and republished in violation of US and international copyright and trademark legislation. The correct version of this piece can be read at https://www.thecerbatgem.com/2017/12/16/wells-fargo-company-mn-purchases-247103-shares-of-cyrusone-inc-cone.html.
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.
Want to see what other hedge funds are holding CONE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CyrusOne Inc (NASDAQ:CONE).
Receive News & Stock Ratings for CyrusOne Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CyrusOne and related stocks with our FREE daily email newsletter.