CyrusOne (CONE) Downgraded by ValuEngine

ValuEngine lowered shares of CyrusOne (NASDAQ:CONE) from a buy rating to a hold rating in a report issued on Friday morning.

CONE has been the topic of several other reports. William Blair assumed coverage on shares of CyrusOne in a report on Friday, September 22nd. They issued an outperform rating on the stock. KeyCorp reaffirmed a hold rating on shares of CyrusOne in a report on Tuesday, September 12th. Morgan Stanley reaffirmed an overweight rating and issued a $63.00 price target (up from $58.00) on shares of CyrusOne in a report on Friday, August 25th. Deutsche Bank reaffirmed a buy rating and issued a $64.00 price target (up from $62.00) on shares of CyrusOne in a report on Friday, August 11th. Finally, BidaskClub lowered shares of CyrusOne from a strong-buy rating to a buy rating in a report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. CyrusOne has an average rating of Buy and an average price target of $64.15.

CyrusOne (NASDAQ CONE) opened at $57.63 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 1.56. CyrusOne has a 1-year low of $41.10 and a 1-year high of $65.73. The stock has a market cap of $5,591.76, a price-to-earnings ratio of 20.69, a price-to-earnings-growth ratio of 1.10 and a beta of 0.79.

CyrusOne (NASDAQ:CONE) last released its quarterly earnings results on Monday, October 30th. The real estate investment trust reported ($0.61) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($1.37). CyrusOne had a negative return on equity of 3.23% and a negative net margin of 13.60%. The firm had revenue of $175.30 million during the quarter, compared to analysts’ expectations of $177.62 million. During the same period in the prior year, the firm posted $0.67 earnings per share. CyrusOne’s revenue for the quarter was up 21.9% compared to the same quarter last year. sell-side analysts anticipate that CyrusOne will post 3.09 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Thursday, December 28th. CyrusOne’s dividend payout ratio (DPR) is presently -173.19%.

In other news, insider Venkatesh S. Durvasula sold 13,500 shares of the business’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $60.20, for a total transaction of $812,700.00. Following the sale, the insider now directly owns 214,063 shares of the company’s stock, valued at $12,886,592.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.64% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the business. IFP Advisors Inc boosted its holdings in CyrusOne by 232.6% in the third quarter. IFP Advisors Inc now owns 1,713 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 1,198 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in CyrusOne by 3,032.8% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 1,911 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 1,850 shares during the last quarter. Almanack Investment Partners LLC. purchased a new stake in CyrusOne in the second quarter valued at $124,000. Public Employees Retirement Association of Colorado boosted its holdings in CyrusOne by 21.6% in the second quarter. Public Employees Retirement Association of Colorado now owns 2,725 shares of the real estate investment trust’s stock valued at $152,000 after purchasing an additional 484 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in CyrusOne by 32.9% in the second quarter. PNC Financial Services Group Inc. now owns 3,031 shares of the real estate investment trust’s stock valued at $169,000 after purchasing an additional 751 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors.

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About CyrusOne

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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