CyrusOne (NASDAQ:CONE) had its price target increased by UBS Group from $64.00 to $70.00 in a report issued on Monday, AnalystRatings.com reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.
CONE has been the subject of several other reports. Guggenheim set a $81.00 price objective on CyrusOne and gave the company a buy rating in a research note on Tuesday, September 24th. Raymond James reaffirmed a buy rating and issued a $82.00 price objective (up from $72.00) on shares of CyrusOne in a research note on Friday, November 1st. Stifel Nicolaus reaffirmed a buy rating on shares of CyrusOne in a research note on Friday, August 16th. Credit Suisse Group set a $68.00 price objective on CyrusOne and gave the company a hold rating in a research note on Friday, November 1st. Finally, BMO Capital Markets reaffirmed a buy rating and issued a $66.00 price objective on shares of CyrusOne in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. CyrusOne has an average rating of Buy and an average target price of $72.81.
CyrusOne stock traded down $1.85 during midday trading on Monday, reaching $66.95. 19,807 shares of the stock traded hands, compared to its average volume of 1,193,691. The stock’s fifty day moving average is $75.61 and its 200-day moving average is $65.74. CyrusOne has a 12 month low of $48.94 and a 12 month high of $79.73. The stock has a market cap of $7.97 billion, a P/E ratio of 20.33, a PEG ratio of 1.31 and a beta of 0.49. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.21.
CyrusOne (NASDAQ:CONE) last announced its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.75). CyrusOne had a negative net margin of 1.30% and a negative return on equity of 0.08%. The firm had revenue of $250.90 million for the quarter, compared to the consensus estimate of $247.81 million. During the same period in the previous year, the company posted $0.79 earnings per share. CyrusOne’s quarterly revenue was up 21.4% on a year-over-year basis. On average, equities analysts predict that CyrusOne will post 3.57 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Thursday, January 2nd will be issued a $0.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 2.99%. CyrusOne’s payout ratio is 60.42%.
In other news, EVP Kevin L. Timmons sold 24,000 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $70.53, for a total value of $1,692,720.00. Following the sale, the executive vice president now directly owns 101,583 shares in the company, valued at $7,164,648.99. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.40% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Prime Capital Investment Advisors LLC purchased a new stake in shares of CyrusOne in the third quarter worth approximately $29,000. Cullen Frost Bankers Inc. increased its holdings in CyrusOne by 190.8% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 538 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 353 shares during the period. Meeder Asset Management Inc. increased its holdings in CyrusOne by 4,750.0% during the 3rd quarter. Meeder Asset Management Inc. now owns 582 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 570 shares during the period. Howe & Rusling Inc. increased its holdings in CyrusOne by 36.4% during the 3rd quarter. Howe & Rusling Inc. now owns 750 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 200 shares during the period. Finally, Strategic Blueprint LLC purchased a new position in CyrusOne during the 3rd quarter worth $86,000. Hedge funds and other institutional investors own 99.55% of the company’s stock.
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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