Municipal Employees Retirement System of Michigan boosted its stake in shares of CyrusOne Inc (NASDAQ:CONE) by 8.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,870 shares of the real estate investment trust’s stock after buying an additional 2,260 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in CyrusOne were worth $1,530,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. First Republic Investment Management Inc. lifted its holdings in CyrusOne by 16.1% during the 1st quarter. First Republic Investment Management Inc. now owns 22,222 shares of the real estate investment trust’s stock valued at $1,138,000 after buying an additional 3,079 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in CyrusOne by 56.3% during the 1st quarter. JPMorgan Chase & Co. now owns 2,496,761 shares of the real estate investment trust’s stock valued at $127,859,000 after buying an additional 899,515 shares in the last quarter. Natixis Advisors L.P. raised its holdings in shares of CyrusOne by 51.3% in the 1st quarter. Natixis Advisors L.P. now owns 173,803 shares of the real estate investment trust’s stock valued at $8,900,000 after purchasing an additional 58,962 shares in the last quarter. Ninepoint Partners LP bought a new stake in shares of CyrusOne in the 1st quarter valued at about $307,000. Finally, Denver Investment Advisors LLC raised its holdings in shares of CyrusOne by 46.5% in the 1st quarter. Denver Investment Advisors LLC now owns 50,345 shares of the real estate investment trust’s stock valued at $2,579,000 after purchasing an additional 15,978 shares in the last quarter. Institutional investors own 98.69% of the company’s stock.
Shares of CyrusOne stock opened at $53.65 on Monday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 1.17. CyrusOne Inc has a 52-week low of $43.49 and a 52-week high of $65.73. The company has a market capitalization of $5.32 billion, a PE ratio of 17.20, a PEG ratio of 0.96 and a beta of 0.76.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 13th. Stockholders of record on Friday, June 29th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend is Thursday, June 28th. CyrusOne’s payout ratio is currently 58.97%.
In other news, insider Kevin L. Timmons sold 11,465 shares of CyrusOne stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $49.39, for a total value of $566,256.35. Following the transaction, the insider now owns 177,843 shares of the company’s stock, valued at approximately $8,783,665.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.40% of the stock is owned by insiders.
Several research firms have recently commented on CONE. BidaskClub upgraded shares of CyrusOne from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Guggenheim set a $65.00 price target on shares of CyrusOne and gave the company a “buy” rating in a report on Friday, February 23rd. Royal Bank of Canada restated a “buy” rating on shares of CyrusOne in a report on Thursday, March 1st. Credit Suisse Group set a $73.00 price target on shares of CyrusOne and gave the company a “buy” rating in a report on Wednesday, February 21st. Finally, Jefferies Group restated a “buy” rating and issued a $67.00 price target on shares of CyrusOne in a report on Tuesday, February 27th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $67.25.
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 200 Fortune 1000 companies.
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