Shares of CyrusOne Inc (NASDAQ:CONE) have been given an average recommendation of “Buy” by the seventeen research firms that are covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $65.12.
CONE has been the subject of a number of research reports. UBS Group lowered shares of CyrusOne from a “buy” rating to a “neutral” rating and decreased their target price for the company from $64.00 to $62.00 in a research note on Thursday, June 13th. ValuEngine lowered shares of CyrusOne from a “buy” rating to a “hold” rating in a research note on Monday, June 3rd. BidaskClub raised shares of CyrusOne from a “hold” rating to a “buy” rating in a research note on Saturday. Stifel Nicolaus lifted their target price on shares of CyrusOne from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, BMO Capital Markets reissued a “buy” rating and set a $66.00 target price on shares of CyrusOne in a research note on Monday, August 5th.
Several hedge funds have recently added to or reduced their stakes in CONE. Royal Bank of Canada increased its holdings in shares of CyrusOne by 12.5% during the 2nd quarter. Royal Bank of Canada now owns 117,065 shares of the real estate investment trust’s stock worth $6,757,000 after purchasing an additional 12,990 shares during the period. Walleye Trading LLC increased its holdings in shares of CyrusOne by 17.6% during the 2nd quarter. Walleye Trading LLC now owns 8,694 shares of the real estate investment trust’s stock worth $502,000 after purchasing an additional 1,299 shares during the period. Private Capital Group LLC increased its holdings in shares of CyrusOne by 76.1% during the 2nd quarter. Private Capital Group LLC now owns 2,186 shares of the real estate investment trust’s stock worth $129,000 after purchasing an additional 945 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in shares of CyrusOne by 38.2% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 7,890 shares of the real estate investment trust’s stock worth $455,000 after purchasing an additional 2,181 shares during the period. Finally, Voloridge Investment Management LLC bought a new position in shares of CyrusOne during the 2nd quarter worth about $236,000. 98.04% of the stock is owned by institutional investors and hedge funds.
CyrusOne (NASDAQ:CONE) last posted its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.09. The firm had revenue of $251.50 million during the quarter, compared to analyst estimates of $238.01 million. CyrusOne had a negative net margin of 7.44% and a negative return on equity of 2.45%. The company’s revenue was up 27.7% on a year-over-year basis. During the same quarter last year, the business posted $0.81 EPS. As a group, sell-side analysts predict that CyrusOne will post 3.54 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 27th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Thursday, September 26th. This is a positive change from CyrusOne’s previous quarterly dividend of $0.46. CyrusOne’s payout ratio is presently 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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