CyrusOne Inc (NASDAQ:CONE) – Equities researchers at Jefferies Group raised their Q2 2017 earnings per share estimates for shares of CyrusOne in a research note issued on Monday. Jefferies Group analyst J. Petersen now forecasts that the real estate investment trust will post earnings of $0.74 per share for the quarter, up from their previous forecast of $0.71. Jefferies Group has a “Buy” rating and a $55.00 price objective on the stock. Jefferies Group also issued estimates for CyrusOne’s Q3 2017 earnings at $0.75 EPS, Q4 2017 earnings at $0.81 EPS, FY2018 earnings at $3.57 EPS and FY2019 earnings at $3.90 EPS.
A number of other research analysts have also recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $63.00 price objective (up previously from $59.00) on shares of CyrusOne in a report on Monday. Stifel Nicolaus lifted their price objective on shares of CyrusOne from $56.00 to $60.00 and gave the company a “buy” rating in a report on Friday, May 5th. TheStreet cut shares of CyrusOne from a “b-” rating to a “c” rating in a report on Wednesday, May 3rd. Barclays PLC lifted their target price on shares of CyrusOne from $53.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, April 25th. Finally, Mitsubishi UFJ Financial Group started coverage on shares of CyrusOne in a research report on Tuesday, April 25th. They set a “neutral” rating and a $54.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $56.58.
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Shares of CyrusOne (NASDAQ:CONE) opened at 53.85 on Wednesday. The company’s market cap is $4.55 billion. The stock’s 50 day moving average is $52.63 and its 200-day moving average is $47.87. CyrusOne has a 12 month low of $38.80 and a 12 month high of $57.00.
CyrusOne (NASDAQ:CONE) last announced its earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $149.30 million during the quarter, compared to analyst estimates of $150.63 million. CyrusOne had a net margin of 3.58% and a return on equity of 1.78%.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be paid a $0.42 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.12%. CyrusOne’s dividend payout ratio (DPR) is presently 723.84%.
In other CyrusOne news, insider Venkatesh S. Durvasula sold 10,000 shares of CyrusOne stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $50.69, for a total value of $506,900.00. Following the completion of the transaction, the insider now owns 239,342 shares of the company’s stock, valued at $12,132,245.98. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Venkatesh S. Durvasula sold 11,779 shares of CyrusOne stock in a transaction on Monday, April 3rd. The stock was 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 disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in CONE. Harvest Fund Management Co. Ltd purchased a new position in shares of CyrusOne during the fourth quarter valued at about $125,000. Kemper Corp Master Retirement Trust increased its stake in 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 last quarter. Pitcairn Co. bought a new stake in CyrusOne during the first quarter valued at about $204,000. Comerica Bank bought a new stake in CyrusOne during the fourth quarter valued at about $203,000. Finally, Campbell Newman Asset Management Inc. bought a new stake in CyrusOne during the first quarter valued at about $216,000. 96.42% of the stock is owned by institutional investors.
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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