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.
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%.
WARNING: “CyrusOne Inc (CONE) Given “Outperform” Rating at Royal Bank of Canada” was originally published by Markets Daily and is the sole property of of Markets Daily. If you are accessing this article on another website, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The original version of this article can be read at https://www.themarketsdaily.com/2017/05/20/cyrusone-inc-cone-rating-reiterated-by-royal-bank-of-canada-updated.html.
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.
Receive News & Ratings for CyrusOne Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CyrusOne Inc and related companies with MarketBeat.com's FREE daily email newsletter.