Teachers Insurance & Annuity Association of America Grows Stock Position in CyrusOne Inc (NASDAQ:CONE)
Teachers Insurance & Annuity Association of America increased its stake in shares of CyrusOne Inc (NASDAQ:CONE) by 7.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 104,694 shares of the real estate investment trust’s stock after purchasing an additional 7,319 shares during the quarter. Teachers Insurance & Annuity Association of America owned 0.09% of CyrusOne worth $6,042,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Cullen Frost Bankers Inc. lifted its holdings in shares of CyrusOne by 190.8% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 538 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 353 shares during the period. Tortoise Index Solutions LLC purchased a new position in CyrusOne in the first quarter worth $40,000. Nvwm LLC raised its position in CyrusOne by 69.6% in the first quarter. Nvwm LLC now owns 916 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 376 shares in the last quarter. Icon Wealth Partners LLC acquired a new stake in CyrusOne in the first quarter valued at $60,000. Finally, Bremer Bank National Association acquired a new stake in CyrusOne in the first quarter valued at $91,000.
A number of equities analysts have recently weighed in on the stock. TheStreet cut shares of CyrusOne from a “b-” rating to a “c” rating in a research note on Wednesday, July 31st. BMO Capital Markets reissued a “buy” rating and set a $66.00 price objective on shares of CyrusOne in a report on Monday, August 5th. Stifel Nicolaus restated a “buy” rating on shares of CyrusOne in a research report on Friday, August 16th. Deutsche Bank raised shares of CyrusOne from a “hold” rating to a “buy” rating and set a $63.39 target price for the company in a report on Friday, May 17th. Finally, BidaskClub upgraded shares of CyrusOne from a “buy” rating to a “strong-buy” rating in a research report on Thursday, September 5th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. CyrusOne has an average rating of “Buy” and a consensus price target of $67.18.
CyrusOne (NASDAQ:CONE) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.09. The firm had revenue of $251.50 million for the quarter, compared to analyst estimates of $238.01 million. CyrusOne had a negative return on equity of 2.45% and a negative net margin of 7.44%. CyrusOne’s revenue was up 27.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.81 EPS. Sell-side analysts expect that CyrusOne Inc will post 3.54 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 27th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.70%. This is a boost from CyrusOne’s previous quarterly dividend of $0.46. The ex-dividend date is Thursday, September 26th. CyrusOne’s payout ratio is 55.59%.
CyrusOne (NASDAQ: CONE) is a high-growth real estate investment trust (REIT) specializing in highly reliable enterprise-class, carrier-neutral data center properties. The Company provides mission-critical data center facilities that protect and ensure the continued operation of IT infrastructure for approximately 1,000 customers, including 212 Fortune 1000 companies.
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