CIBC Asset Management Inc bought a new stake in CyrusOne Inc (NASDAQ:CONE) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,496 shares of the real estate investment trust’s stock, valued at approximately $204,000.
Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of CyrusOne by 9.8% in the first quarter. BlackRock Inc. now owns 9,151,041 shares of the real estate investment trust’s stock valued at $468,623,000 after purchasing an additional 814,160 shares during the period. Centersquare Investment Management LLC purchased a new position in shares of CyrusOne in the first quarter valued at $147,004,000. JPMorgan Chase & Co. boosted its stake in shares of CyrusOne by 56.3% in the first quarter. JPMorgan Chase & Co. now owns 2,496,761 shares of the real estate investment trust’s stock valued at $127,859,000 after purchasing an additional 899,515 shares during the period. Santa Barbara Asset Management LLC boosted its stake in shares of CyrusOne by 15.0% in the first quarter. Santa Barbara Asset Management LLC now owns 1,813,755 shares of the real estate investment trust’s stock valued at $92,882,000 after purchasing an additional 236,008 shares during the period. Finally, Great West Life Assurance Co. Can boosted its stake in shares of CyrusOne by 66.0% in the first quarter. Great West Life Assurance Co. Can now owns 1,492,106 shares of the real estate investment trust’s stock valued at $76,359,000 after purchasing an additional 593,219 shares during the period. Institutional investors and hedge funds own 98.54% of the company’s stock.
CONE has been the subject of several analyst reports. BidaskClub downgraded shares of CyrusOne from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Credit Suisse Group set a $73.00 target price on shares of CyrusOne and gave the company a “buy” rating in a research note on Wednesday, May 16th. BMO Capital Markets initiated coverage on shares of CyrusOne in a research note on Tuesday, July 17th. They issued an “outperform” rating and a $73.00 target price for the company. Bank of America upped their target price on shares of CyrusOne from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, July 13th. Finally, Jefferies Financial Group upped their target price on shares of CyrusOne from $73.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, August 28th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $70.13.
CONE opened at $66.55 on Friday. The firm has a market capitalization of $6.64 billion, a P/E ratio of 21.33, a P/E/G ratio of 1.24 and a beta of 0.82. 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 Inc has a 12-month low of $43.49 and a 12-month high of $68.25.
CyrusOne (NASDAQ:CONE) last posted its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.78. The firm had revenue of $196.90 million for the quarter, compared to analysts’ expectations of $199.33 million. CyrusOne had a net margin of 12.96% and a return on equity of 5.65%. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.77 earnings per share. equities research analysts anticipate that CyrusOne Inc will post 3.3 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 12th. Investors of record on Friday, September 28th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $1.84 annualized dividend and a yield of 2.76%. CyrusOne’s dividend payout ratio is presently 58.97%.
In other CyrusOne news, EVP Robert M. Jackson sold 1,514 shares of the stock in a transaction on Tuesday, July 3rd. The shares were sold at an average price of $60.00, for a total transaction of $90,840.00. Following the sale, the executive vice president now directly owns 29,799 shares of the company’s stock, valued at $1,787,940. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary J. Wojtaszek sold 10,000 shares of the stock in a transaction on Friday, August 17th. The stock was sold at an average price of $66.50, for a total transaction of $665,000.00. Following the sale, the insider now directly owns 519,936 shares in the company, valued at $34,575,744. The disclosure for this sale can be found here. Insiders have sold 25,683 shares of company stock worth $1,693,037 over the last three months. 1.64% of the stock is owned by corporate insiders.
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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