Norges Bank bought a new stake in CyrusOne Inc (NASDAQ:CONE) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,043,686 shares of the real estate investment trust’s stock, valued at approximately $55,190,000. Norges Bank owned about 0.99% of CyrusOne as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cohen & Steers Inc. raised its position in shares of CyrusOne by 52.5% in the third quarter. Cohen & Steers Inc. now owns 11,176,542 shares of the real estate investment trust’s stock valued at $708,593,000 after purchasing an additional 3,846,356 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of CyrusOne by 5,517.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,191,559 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 2,152,545 shares during the period. Vanguard Group Inc raised its position in shares of CyrusOne by 8.8% in the third quarter. Vanguard Group Inc now owns 15,035,960 shares of the real estate investment trust’s stock valued at $953,281,000 after purchasing an additional 1,213,820 shares during the period. Principal Financial Group Inc. raised its position in shares of CyrusOne by 49.2% in the fourth quarter. Principal Financial Group Inc. now owns 3,319,179 shares of the real estate investment trust’s stock valued at $175,518,000 after purchasing an additional 1,094,406 shares during the period. Finally, BlackRock Inc. raised its position in shares of CyrusOne by 8.2% in the fourth quarter. BlackRock Inc. now owns 13,400,331 shares of the real estate investment trust’s stock valued at $708,610,000 after purchasing an additional 1,013,641 shares during the period. Hedge funds and other institutional investors own 98.04% of the company’s stock.
A number of analysts recently weighed in on the stock. Zacks Investment Research lowered shares of CyrusOne from a “hold” rating to a “strong sell” rating in a report on Monday, February 11th. BMO Capital Markets decreased their target price on shares of CyrusOne to $60.00 and set an “outperform” rating on the stock in a report on Friday, February 22nd. Bank of America raised shares of CyrusOne from a “neutral” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Friday, April 12th. Credit Suisse Group lowered shares of CyrusOne from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $68.00 to $52.00 in a report on Monday, February 25th. Finally, Royal Bank of Canada decreased their target price on shares of CyrusOne to $60.00 and set an “outperform” rating on the stock in a report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $62.55.
CONE stock traded down $0.08 during midday trading on Wednesday, reaching $56.44. The company had a trading volume of 1,772 shares, compared to its average volume of 1,028,497. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.54 and a quick ratio of 0.54. CyrusOne Inc has a 1 year low of $48.94 and a 1 year high of $69.01. The stock has a market cap of $6.23 billion, a PE ratio of 17.06, a P/E/G ratio of 1.25 and a beta of 0.87.
CyrusOne (NASDAQ:CONE) last released its quarterly earnings results on Wednesday, February 20th. The real estate investment trust reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.04. CyrusOne had a net margin of 0.15% and a return on equity of 0.06%. The business had revenue of $221.30 million during the quarter, compared to analysts’ expectations of $223.80 million. During the same quarter in the previous year, the company earned $0.84 EPS. The business’s quarterly revenue was up 22.6% compared to the same quarter last year. On average, research analysts expect that CyrusOne Inc will post 3.17 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were paid a $0.46 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.84 dividend on an annualized basis and a yield of 3.26%. CyrusOne’s dividend payout ratio is presently 55.59%.
In other CyrusOne news, Director Michael Klayko acquired 1,955 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was bought at an average price of $51.10 per share, with a total value of $99,900.50. Following the purchase, the director now owns 12,016 shares of the company’s stock, valued at $614,017.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kevin L. Timmons sold 19,600 shares of the stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $51.14, for a total transaction of $1,002,344.00. Following the sale, the executive vice president now directly owns 152,965 shares of the company’s stock, valued at approximately $7,822,630.10. The disclosure for this sale can be found here. 1.40% of the stock is owned by insiders.
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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