CyrusOne (CONE) PT Set at $66.00 by Wells Fargo & Co

Wells Fargo & Co set a $66.00 target price on CyrusOne (NASDAQ:CONE) in a report issued on Thursday morning. The brokerage currently has a buy rating on the real estate investment trust’s stock.

Several other research analysts also recently commented on the stock. Jefferies Financial Group lifted their price target on shares of CyrusOne from $73.00 to $76.00 and gave the stock a buy rating in a research note on Tuesday, August 28th. Berenberg Bank initiated coverage on shares of CyrusOne in a research note on Thursday, September 20th. They set a hold rating and a $64.00 price target on the stock. Stifel Nicolaus set a $72.00 price target on shares of CyrusOne and gave the stock a buy rating in a research note on Friday, August 3rd. BidaskClub downgraded shares of CyrusOne from a buy rating to a hold rating in a research note on Thursday, August 2nd. Finally, ValuEngine raised shares of CyrusOne from a hold rating to a buy rating in a research note on Friday, September 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $69.53.

Shares of CONE stock traded up $0.47 during trading hours on Thursday, hitting $62.29. 36,110 shares of the company’s stock were exchanged, compared to its average volume of 1,755,423. The company has a market capitalization of $6.55 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 1.15 and a beta of 0.84. CyrusOne has a 12-month low of $43.49 and a 12-month high of $69.01. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.00 and a current ratio of 1.00.

CyrusOne (NASDAQ:CONE) last posted its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.81 EPS for the quarter, topping the consensus estimate of $0.03 by $0.78. The firm had revenue of $196.90 million for the quarter, compared to the consensus estimate of $199.33 million. CyrusOne had a net margin of 12.96% and a return on equity of 5.65%. The business’s revenue was up 18.0% compared to the same quarter last year. During the same period last year, the firm posted $0.77 earnings per share. On average, research analysts predict that CyrusOne will post 3.3 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Friday, September 28th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.95%. The ex-dividend date was Thursday, September 27th. CyrusOne’s dividend payout ratio is 58.97%.

In related news, insider Venkatesh S. Durvasula sold 5,000 shares of CyrusOne stock in a transaction on Monday, August 6th. The shares were sold at an average price of $64.96, for a total value of $324,800.00. Following the sale, the insider now owns 227,712 shares in the company, valued at $14,792,171.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gary J. Wojtaszek sold 10,000 shares of CyrusOne stock in a transaction on Friday, August 17th. The shares were sold at an average price of $66.50, for a total transaction of $665,000.00. Following the completion of the sale, the insider now owns 519,936 shares in the company, valued at approximately $34,575,744. The disclosure for this sale can be found here. Insiders sold 24,169 shares of company stock worth $1,602,197 in the last 90 days. Company insiders own 1.64% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp bought a new stake in CyrusOne in the second quarter valued at $1,162,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in CyrusOne in the second quarter valued at $1,561,000. MetLife Investment Advisors LLC boosted its holdings in CyrusOne by 3.8% in the second quarter. MetLife Investment Advisors LLC now owns 62,293 shares of the real estate investment trust’s stock valued at $3,635,000 after acquiring an additional 2,305 shares in the last quarter. First Republic Investment Management Inc. boosted its holdings in CyrusOne by 124.1% in the second quarter. First Republic Investment Management Inc. now owns 49,803 shares of the real estate investment trust’s stock valued at $2,907,000 after acquiring an additional 27,581 shares in the last quarter. Finally, Segall Bryant & Hamill LLC bought a new stake in CyrusOne in the second quarter valued at $2,486,000. Institutional investors and hedge funds own 91.78% of the company’s stock.

About CyrusOne

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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