Convergence Investment Partners LLC purchased a new stake in CyrusOne Inc (NASDAQ:CONE) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 8,905 shares of the real estate investment trust’s stock, valued at approximately $648,000.
Several other institutional investors and hedge funds also recently made changes to their positions in CONE. Magnus Financial Group LLC raised its holdings in CyrusOne by 3.1% in the 1st quarter. Magnus Financial Group LLC now owns 5,342 shares of the real estate investment trust’s stock valued at $330,000 after acquiring an additional 160 shares during the last quarter. tru Independence LLC raised its position in CyrusOne by 65.5% during the first quarter. tru Independence LLC now owns 422 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 167 shares in the last quarter. Utah Retirement Systems raised its position in CyrusOne by 0.8% during the first quarter. Utah Retirement Systems now owns 24,787 shares of the real estate investment trust’s stock worth $1,531,000 after acquiring an additional 200 shares in the last quarter. Vident Investment Advisory LLC raised its position in CyrusOne by 1.2% during the first quarter. Vident Investment Advisory LLC now owns 17,970 shares of the real estate investment trust’s stock worth $1,110,000 after acquiring an additional 209 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in CyrusOne by 0.7% during the first quarter. Nisa Investment Advisors LLC now owns 34,437 shares of the real estate investment trust’s stock worth $2,126,000 after acquiring an additional 232 shares in the last quarter. Institutional investors own 95.33% of the company’s stock.
A number of equities analysts recently weighed in on CONE shares. Deutsche Bank started coverage on shares of CyrusOne in a report on Friday, June 5th. They issued a “buy” rating and a $83.00 price target on the stock. Zacks Investment Research downgraded shares of CyrusOne from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 7th. Raymond James boosted their price objective on CyrusOne from $75.00 to $82.00 and gave the company an “outperform” rating in a research note on Tuesday, June 23rd. Citigroup boosted their price objective on CyrusOne from $52.00 to $74.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Finally, SunTrust Banks boosted their price objective on CyrusOne from $82.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $78.67.
Shares of CONE stock traded up $0.25 during trading on Friday, hitting $83.42. The company had a trading volume of 1,347,139 shares, compared to its average volume of 803,503. The company has a quick ratio of 1.20, a current ratio of 1.34 and a debt-to-equity ratio of 1.39. The stock’s 50-day moving average is $76.07 and its two-hundred day moving average is $67.96. The stock has a market capitalization of $9.61 billion, a price-to-earnings ratio of 490.73, a price-to-earnings-growth ratio of 0.98 and a beta of 0.41. CyrusOne Inc has a 52 week low of $43.72 and a 52 week high of $84.56.
CyrusOne (NASDAQ:CONE) last posted its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.54). The company had revenue of $256.40 million during the quarter, compared to the consensus estimate of $251.59 million. CyrusOne had a return on equity of 3.32% and a net margin of 2.01%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the company posted $0.90 earnings per share. On average, research analysts predict that CyrusOne Inc will post 3.84 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.45%. This is a boost from CyrusOne’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, September 24th. CyrusOne’s dividend payout ratio is 55.10%.
In other CyrusOne news, CFO Diane M. Morefield sold 13,916 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $73.60, for a total value of $1,024,217.60. Following the completion of the sale, the chief financial officer now owns 41,095 shares of the company’s stock, valued at $3,024,592. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael Klayko sold 5,515 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $73.60, for a total value of $405,904.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,595 shares of company stock valued at $3,619,096. 0.55% of the stock is owned by insiders.
CyrusOne Company Profile
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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