CyrusOne (CONE) Trading Down 8.4%

CyrusOne Inc (NASDAQ:CONE) was down 8.4% during mid-day trading on Thursday . The stock traded as low as $51.50 and last traded at $52.46. Approximately 2,983,468 shares were traded during trading, an increase of 163% from the average daily volume of 1,133,185 shares. The stock had previously closed at $57.24.

Several equities research analysts have recently issued reports on CONE shares. BidaskClub lowered shares of CyrusOne from a “buy” rating to a “hold” rating in a research note on Tuesday, October 30th. BMO Capital Markets reissued a “buy” rating and set a $74.00 target price on shares of CyrusOne in a research note on Tuesday, October 30th. Cowen lowered their target price on shares of CyrusOne from $79.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, November 1st. They noted that the move was a valuation call. Jefferies Financial Group decreased their price target on shares of CyrusOne from $75.00 to $66.00 and set a “buy” rating on the stock in a research note on Thursday, November 1st. Finally, Stifel Nicolaus set a $70.00 price target on shares of CyrusOne and gave the company a “buy” rating in a research note on Thursday, November 1st. One analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. CyrusOne currently has a consensus rating of “Buy” and an average price target of $66.22.

The company has a market cap of $6.10 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 0.89 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 (NASDAQ:CONE) last issued its quarterly earnings results on Wednesday, February 20th. The real estate investment trust reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.04. The firm had revenue of $221.30 million for the quarter, compared to analyst estimates of $223.80 million. CyrusOne had a net margin of 14.07% and a return on equity of 5.68%. CyrusOne’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same period last year, the company posted $0.84 EPS. As a group, analysts predict that CyrusOne Inc will post 3.26 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Friday, March 29th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Thursday, March 28th. CyrusOne’s dividend payout ratio is presently 58.97%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pearl River Capital LLC purchased a new position in CyrusOne in the 4th quarter worth approximately $27,000. Oregon Public Employees Retirement Fund lifted its stake in CyrusOne by 5,517.4% in the 4th 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 stake in CyrusOne by 59.4% in the 4th 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 purchased a new position in CyrusOne in the 4th quarter worth approximately $84,000. Finally, IFP Advisors Inc lifted its stake in CyrusOne by 95.8% in the 3rd 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.

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About CyrusOne (NASDAQ:CONE)

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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