CyrusOne (CONE) Lowered to “Strong Sell” at Zacks Investment Research

CyrusOne (NASDAQ:CONE) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday.

According to Zacks, “CyrusOne Inc. is a real estate investment trust engaged in providing enterprise data centre colocation, engineering facilities with the highest power redundancy (2N architecture) and power-density infrastructure services in the United States, Europe, and Asia. CyrusOne Inc. is headquartered in Carrollton, United States. “

Other research analysts have also recently issued reports about the stock. BidaskClub cut shares of CyrusOne from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 27th. BMO Capital Markets reaffirmed a “buy” rating and set a $74.00 price target on shares of CyrusOne in a research report on Tuesday, October 30th. Wells Fargo & Co set a $66.00 price target on shares of CyrusOne and gave the company a “buy” rating in a research report on Thursday, October 18th. Stifel Nicolaus set a $70.00 price target on shares of CyrusOne and gave the company a “buy” rating in a research report on Thursday, November 1st. Finally, Jefferies Financial Group reduced their price target on shares of CyrusOne from $75.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, November 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $66.38.

Shares of CONE stock opened at $54.44 on Monday. The company has a market cap of $5.75 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 0.84 and a beta of 0.89. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.64 and a current ratio of 0.64. CyrusOne has a fifty-two week low of $43.49 and a fifty-two week high of $69.01.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pearl River Capital LLC acquired a new position in shares of CyrusOne during the fourth quarter worth $27,000. Oregon Public Employees Retirement Fund lifted its position in shares of CyrusOne by 5,517.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,191,559 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 2,152,545 shares in the last quarter. Proficio Capital Partners LLC lifted its position in shares of CyrusOne by 59.4% during the fourth quarter. Proficio Capital Partners LLC now owns 1,098 shares of the real estate investment trust’s stock worth $58,000 after purchasing an additional 409 shares in the last quarter. Bremer Trust National Association acquired a new position in shares of CyrusOne during the fourth quarter worth $84,000. Finally, IFP Advisors Inc lifted its position in shares of CyrusOne by 95.8% during the third quarter. IFP Advisors Inc now owns 1,982 shares of the real estate investment trust’s stock worth $126,000 after purchasing an additional 970 shares in the last quarter. 98.04% of the stock is currently owned by institutional investors and hedge funds.

CyrusOne Company Profile

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 208 Fortune 1000 companies.

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