CyrusOne Inc (NASDAQ:CONE) announced 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, Bloomberg Earnings reports. CyrusOne had a negative net margin of 4.35% and a positive return on equity of 1.30%. The company 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 firm posted $0.67 EPS. The firm’s revenue was up 28.3% on a year-over-year basis.
CyrusOne (CONE) traded up 1.85% during trading on Friday, reaching $58.49. 1,352,534 shares of the company traded hands. CyrusOne has a 52 week low of $38.80 and a 52 week high of $60.55.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given 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 yield of 2.87%. CyrusOne’s payout ratio is currently -541.92%.
CONE has been the topic of a number of research reports. Mitsubishi UFJ Financial Group initiated coverage on shares of CyrusOne in a report on Tuesday, April 25th. They set a “neutral” rating and a $54.00 target price on the stock. Stifel Nicolaus reissued a “buy” rating on shares of CyrusOne in a report on Tuesday, April 25th. Barclays PLC boosted their target price on shares of CyrusOne from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, April 25th. TheStreet downgraded shares of CyrusOne from a “b-” rating to a “c” rating in a research report on Wednesday, May 3rd. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $63.00 price target (up previously from $59.00) on shares of CyrusOne in a research report on Monday, May 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $60.23.
In other CyrusOne news, CEO Gary J. Wojtaszek sold 38,294 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $58.01, for a total value of $2,221,434.94. Following the sale, the chief executive officer now directly owns 511,621 shares of the company’s stock, valued at $29,679,134.21. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gary J. Wojtaszek sold 80,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $57.79, for a total value of $4,623,200.00. Following the completion of the sale, the insider now directly owns 511,621 shares in the company, valued at $29,566,577.59. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 126,894 shares of company stock worth $7,342,489. 1.64% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in CyrusOne by 5.1% in the second quarter. Vanguard Group Inc. now owns 12,464,124 shares of the real estate investment trust’s stock valued at $694,875,000 after buying an additional 602,662 shares during the period. BlackRock Inc. increased its position in CyrusOne by 6.3% in the second quarter. BlackRock Inc. now owns 7,362,899 shares of the real estate investment trust’s stock valued at $410,481,000 after buying an additional 433,166 shares during the period. State Street Corp increased its position in CyrusOne by 107.4% in the first quarter. State Street Corp now owns 1,944,811 shares of the real estate investment trust’s stock valued at $100,098,000 after buying an additional 1,007,158 shares during the period. Cbre Clarion Securities LLC bought a new position in shares of CyrusOne during the second quarter worth approximately $93,042,000. Finally, Bank of America Corp DE increased its position in shares of CyrusOne by 30.4% in the first quarter. Bank of America Corp DE now owns 1,527,713 shares of the real estate investment trust’s stock worth $78,631,000 after buying an additional 356,343 shares during the last quarter. Institutional investors and hedge funds own 99.34% of the company’s stock.
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.
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