CyrusOne Inc (CONE) Given Overweight Rating at Morgan Stanley

Morgan Stanley reaffirmed their overweight rating on shares of CyrusOne Inc (NASDAQ:CONE) in a research note issued to investors on Friday morning. They currently have a $63.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $58.00.

Several other equities research analysts have also issued reports on the stock. BidaskClub upgraded shares of CyrusOne from a buy rating to a strong-buy rating in a research note on Wednesday, August 16th. Jefferies Group LLC reiterated a buy rating and issued a $69.00 price target on shares of CyrusOne in a research note on Monday, August 14th. Deutsche Bank AG reiterated a buy rating and issued a $64.00 price target (up from $62.00) on shares of CyrusOne in a research note on Friday, August 11th. Stifel Nicolaus reiterated a buy rating and issued a $66.00 price target (up from $65.00) on shares of CyrusOne in a research note on Wednesday, August 9th. Finally, Zacks Investment Research lowered shares of CyrusOne from a buy rating to a hold rating in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $61.08.

Shares of CyrusOne (NASDAQ:CONE) traded up 1.87% during mid-day trading on Friday, hitting $63.06. The stock had a trading volume of 838,498 shares. CyrusOne has a one year low of $38.80 and a one year high of $63.40. The firm’s 50 day moving average price is $58.63 and its 200-day moving average price is $54.56.

CyrusOne (NASDAQ:CONE) last issued its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.03. CyrusOne had a negative net margin of 4.35% and a positive return on equity of 1.30%. The firm had revenue of $166.90 million for the quarter, compared to analyst estimates of $165.71 million. During the same period in the previous year, the business earned $0.67 EPS. The company’s revenue was up 28.3% compared to the same quarter last year. Analysts predict that CyrusOne will post ($0.21) earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.68 annualized dividend and a dividend yield of 2.66%. CyrusOne’s dividend payout ratio is presently -541.92%.

In related news, insider Kevin L. Timmons sold 8,600 shares of CyrusOne stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $57.89, for a total transaction of $497,854.00. Following the completion of the sale, the insider now owns 170,137 shares of the company’s stock, valued at approximately $9,849,230.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary J. Wojtaszek sold 80,000 shares of CyrusOne stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $57.79, for a total transaction of $4,623,200.00. Following the sale, the insider now directly owns 511,621 shares of the company’s stock, valued at approximately $29,566,577.59. The disclosure for this sale can be found here. Insiders have sold a total of 128,784 shares of company stock valued at $7,453,999 in the last ninety days. 1.64% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in the company. Bellwether Investment Group LLC increased its stake in shares of CyrusOne by 1.7% in the second quarter. Bellwether Investment Group LLC now owns 5,710 shares of the real estate investment trust’s stock valued at $318,000 after buying an additional 97 shares during the last quarter. Zevenbergen Capital Investments LLC increased its stake in shares of CyrusOne by 1.6% in the second quarter. Zevenbergen Capital Investments LLC now owns 11,405 shares of the real estate investment trust’s stock valued at $636,000 after buying an additional 175 shares during the last quarter. Campbell Newman Asset Management Inc. increased its stake in shares of CyrusOne by 4.8% in the second quarter. Campbell Newman Asset Management Inc. now owns 4,404 shares of the real estate investment trust’s stock valued at $246,000 after buying an additional 201 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of CyrusOne by 6.3% in the second quarter. Teacher Retirement System of Texas now owns 6,297 shares of the real estate investment trust’s stock valued at $351,000 after buying an additional 372 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of CyrusOne by 20.5% in the first quarter. PNC Financial Services Group Inc. now owns 2,280 shares of the real estate investment trust’s stock valued at $116,000 after buying an additional 388 shares during the last quarter. 93.41% of the stock is owned by institutional investors and hedge funds.

CyrusOne Company Profile

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.