CyrusOne Inc (CONE) Insider Sells $599,551.10 in Stock

CyrusOne Inc (NASDAQ:CONE) insider Venkatesh S. Durvasula sold 11,779 shares of the business’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $50.90, for a total transaction of $599,551.10. Following 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 accessible through the SEC website.

Shares of CyrusOne Inc (NASDAQ:CONE) traded down 0.88% during trading on Friday, hitting $54.09. The stock had a trading volume of 244,809 shares. CyrusOne Inc has a 1-year low of $38.80 and a 1-year high of $57.00. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of 225.38 and a beta of 0.82. The firm has a 50 day moving average of $51.04 and a 200 day moving average of $47.25.

CyrusOne (NASDAQ:CONE) last issued its quarterly earnings data on Wednesday, February 22nd. The real estate investment trust reported $0.68 EPS for the quarter, topping the consensus estimate of $0.63 by $0.05. The firm earned $137.40 million during the quarter, compared to the consensus estimate of $136.28 million. CyrusOne had a return on equity of 1.78% and a net margin of 3.58%. The company’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.61 earnings per share. Analysts expect that CyrusOne Inc will post $0.34 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 14th. Stockholders of record on Friday, March 31st were paid a $0.42 dividend. The ex-dividend date of this dividend was Wednesday, March 29th. This is an increase from CyrusOne’s previous quarterly dividend of $0.38. This represents a $1.68 annualized dividend and a dividend yield of 3.08%. CyrusOne’s dividend payout ratio is 723.84%.

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Several research firms recently weighed in on CONE. Royal Bank of Canada reaffirmed a “buy” rating and issued a $59.00 price objective on shares of CyrusOne in a report on Wednesday, March 1st. Zacks Investment Research raised shares of CyrusOne from a “strong sell” rating to a “hold” rating in a report on Friday, January 6th. Jefferies Group LLC reiterated a “buy” rating and issued a $55.00 price target on shares of CyrusOne in a research report on Monday, February 27th. TheStreet upgraded shares of CyrusOne from a “c” rating to a “b-” rating in a research report on Thursday, February 23rd. Finally, Stifel Nicolaus boosted their price target on shares of CyrusOne from $54.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, February 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $56.09.

Several hedge funds have recently modified their holdings of CONE. Public Employees Retirement Association of Colorado increased its stake in shares of CyrusOne by 0.4% in the third quarter. Public Employees Retirement Association of Colorado now owns 2,277 shares of the real estate investment trust’s stock valued at $108,000 after buying an additional 8 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of CyrusOne during the fourth quarter valued at approximately $125,000. Daiwa Securities Group Inc. increased its stake in shares of CyrusOne by 7.7% in the third quarter. Daiwa Securities Group Inc. now owns 2,800 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 200 shares during the period. Kemper Corp Master Retirement Trust increased its stake in shares of CyrusOne by 42.2% in the third quarter. Kemper Corp Master Retirement Trust now owns 2,950 shares of the real estate investment trust’s stock valued at $140,000 after buying an additional 875 shares during the period. Finally, Bronfman E.L. Rothschild L.P. increased its stake in shares of CyrusOne by 0.6% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 3,495 shares of the real estate investment trust’s stock valued at $166,000 after buying an additional 20 shares during the period. 96.42% of the stock is owned by hedge funds and other 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.

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