CyrusOne Inc (CONE) Stake Lowered by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lessened its position in CyrusOne Inc (NASDAQ:CONE) by 13.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 748,951 shares of the real estate investment trust’s stock after selling 114,839 shares during the period. CyrusOne comprises approximately 1.0% of Pinnacle Associates Ltd.’s holdings, making the stock its 18th biggest holding. Pinnacle Associates Ltd.’s holdings in CyrusOne were worth $47,483,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Credit Suisse AG lifted its position in CyrusOne by 105.9% during the 3rd quarter. Credit Suisse AG now owns 285,505 shares of the real estate investment trust’s stock worth $18,102,000 after buying an additional 146,830 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in CyrusOne by 14.2% during the 3rd quarter. Canada Pension Plan Investment Board now owns 16,900 shares of the real estate investment trust’s stock worth $1,071,000 after purchasing an additional 2,100 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in CyrusOne by 45.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,943 shares of the real estate investment trust’s stock worth $2,723,000 after purchasing an additional 13,342 shares during the last quarter. Rafferty Asset Management LLC raised its holdings in CyrusOne by 174.0% during the 3rd quarter. Rafferty Asset Management LLC now owns 80,692 shares of the real estate investment trust’s stock worth $5,116,000 after purchasing an additional 51,241 shares during the last quarter. Finally, Teachers Insurance & Annuity Association of America increased its stake in shares of CyrusOne by 4.8% in the 3rd quarter. Teachers Insurance & Annuity Association of America now owns 132,289 shares of the real estate investment trust’s stock valued at $8,387,000 after acquiring an additional 6,044 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

CONE has been the subject of a number of recent analyst reports. BidaskClub cut CyrusOne from a “buy” rating to a “hold” rating in a research note on Friday, October 5th. ValuEngine raised CyrusOne from a “hold” rating to a “buy” rating in a research note on Friday, September 14th. BMO Capital Markets reaffirmed a “buy” rating and issued a $74.00 price target on shares of CyrusOne in a research note on Tuesday, October 30th. Jefferies Financial Group upped their price target on CyrusOne from $73.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, August 28th. Finally, Credit Suisse Group set a $73.00 price target on CyrusOne and gave the company a “buy” rating in a research note on Wednesday, August 1st. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. CyrusOne presently has a consensus rating of “Buy” and an average price target of $67.43.

NASDAQ:CONE traded up $0.12 during trading hours on Friday, reaching $52.96. 868 shares of the stock were exchanged, compared to its average volume of 1,074,679. The company has a market cap of $5.59 billion, a P/E ratio of 16.98, a price-to-earnings-growth ratio of 1.06 and a beta of 1.05. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 1.22. CyrusOne Inc has a twelve month low of $43.49 and a twelve month high of $69.01.

CyrusOne (NASDAQ:CONE) last released its quarterly earnings data on Tuesday, October 30th. The real estate investment trust reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.80 by ($1.23). The company had revenue of $206.60 million during the quarter, compared to analyst estimates of $209.33 million. CyrusOne had a net margin of 14.07% and a return on equity of 5.68%. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.79 EPS. As a group, analysts anticipate that CyrusOne Inc will post 3.27 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 11th. Stockholders of record on Wednesday, January 2nd will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Monday, December 31st. CyrusOne’s payout ratio is presently 58.97%.

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CyrusOne 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 200 Fortune 1000 companies.

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Institutional Ownership by Quarter for CyrusOne (NASDAQ:CONE)

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