CyrusOne Inc (CONE) Given “Outperform” Rating at Royal Bank of Canada

CyrusOne Inc (NASDAQ:CONE)‘s stock had its “outperform” rating reiterated by analysts at Royal Bank of Canada in a report released on Monday, May 8th. They presently have a $63.00 price target on the real estate investment trust’s stock, up from their previous price target of $59.00. Royal Bank of Canada’s target price would suggest a potential upside of 14.92% from the company’s previous close.

A number of other brokerages have also recently weighed in on CONE. Citigroup Inc cut shares of CyrusOne from a “neutral” rating to a “sell” rating and set a $43.00 target price for the company. in a report on Wednesday, January 25th. Barclays PLC raised their price objective on shares of CyrusOne from $53.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 25th. Stifel Nicolaus raised their price objective on shares of CyrusOne from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, May 5th. Macquarie reiterated an “outperform” rating and issued a $58.00 target price on shares of CyrusOne in a research report on Thursday, April 6th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $55.00 target price on shares of CyrusOne in a research report on Monday, February 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $56.69.

Analyst Recommendations for CyrusOne (NASDAQ:CONE)

Shares of CyrusOne (NASDAQ:CONE) traded up 0.72% on Monday, reaching $54.82. The company had a trading volume of 722,324 shares. CyrusOne has a 52 week low of $38.80 and a 52 week high of $57.00. The company’s market capitalization is $4.60 billion. The company has a 50 day moving average of $53.57 and a 200-day moving average of $48.34.

CyrusOne (NASDAQ:CONE) last posted its quarterly earnings data on Wednesday, May 3rd. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.04. The business had revenue of $149.30 million during the quarter, compared to analysts’ expectations of $150.63 million. CyrusOne had a net margin of 3.58% and a return on equity of 1.78%. Analysts predict that CyrusOne will post ($0.01) earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $1.68 annualized dividend and a dividend yield of 3.06%. CyrusOne’s dividend payout ratio (DPR) is currently 723.84%.

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In related news, insider Venkatesh S. Durvasula sold 11,779 shares of CyrusOne stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $50.90, for a total transaction of $599,551.10. Following the completion of the transaction, the insider now directly owns 227,563 shares of the company’s stock, valued at approximately $11,582,956.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Venkatesh S. Durvasula sold 10,000 shares of CyrusOne stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $50.69, for a total transaction of $506,900.00. Following the transaction, the insider now directly owns 239,342 shares of the company’s stock, valued at $12,132,245.98. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.

Several institutional investors have recently made changes to their positions in CONE. Morgan Stanley increased its position in shares of CyrusOne by 30.2% in the third quarter. Morgan Stanley now owns 627,018 shares of the real estate investment trust’s stock worth $29,828,000 after buying an additional 145,423 shares in the last quarter. Pacer Advisors Inc. increased its stake in CyrusOne by 17.0% in the third quarter. Pacer Advisors Inc. now owns 9,208 shares of the real estate investment trust’s stock worth $438,000 after buying an additional 1,335 shares during the period. BB&T Securities LLC increased its stake in CyrusOne by 12.9% in the third quarter. BB&T Securities LLC now owns 6,638 shares of the real estate investment trust’s stock worth $315,000 after buying an additional 759 shares during the period. California State Teachers Retirement System increased its stake in CyrusOne by 0.9% in the third quarter. California State Teachers Retirement System now owns 151,314 shares of the real estate investment trust’s stock worth $7,198,000 after buying an additional 1,300 shares during the period. Finally, Rhumbline Advisers increased its stake in CyrusOne by 13.3% in the third quarter. Rhumbline Advisers now owns 77,273 shares of the real estate investment trust’s stock worth $3,676,000 after buying an additional 9,046 shares during the period. 96.42% of the stock is owned by institutional investors.

CyrusOne Company Profile

CyrusOne Inc is a real estate investment trust. The Company is an owner, operator and developer of enterprise-class, carrier-neutral, multi-tenant data center properties. The Company’s data centers are generally purpose-built facilities with redundant power and cooling. The CyrusOne National IX Platform (the National IX Platform) delivers interconnection across states and between metro-enabled sites within its footprint and beyond.

12 Month Chart for NASDAQ:CONE

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