CyrusOne Inc. (NASDAQ:CONE) shares dropped 1.4% on Thursday . The stock traded as low as $50.66 and last traded at $50.66, with a volume of 533,190 shares. The stock had previously closed at $51.36.

CONE has been the subject of several recent analyst reports. Bank of America Corp. set a $58.00 price target on CyrusOne and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Wells Fargo & Co. initiated coverage on CyrusOne in a research note on Tuesday, May 31st. They issued an “outperform” rating for the company. Jefferies Group restated a “buy” rating and issued a $57.00 price target on shares of CyrusOne in a research note on Wednesday, July 6th. Deutsche Bank AG boosted their price target on CyrusOne from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, May 9th. Finally, Zacks Investment Research cut CyrusOne from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. CyrusOne has a consensus rating of “Buy” and a consensus price target of $55.67.

The stock has a market capitalization of $3.98 billion and a P/E ratio of 430.42. The company has a 50 day moving average of $53.44 and a 200 day moving average of $46.85.

CyrusOne (NASDAQ:CONE) last announced its earnings results on Monday, August 1st. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.08. During the same period last year, the business posted $0.51 EPS. The company had revenue of $130.10 million for the quarter, compared to the consensus estimate of $125.94 million. The firm’s revenue was up 46.0% compared to the same quarter last year. On average, equities research analysts forecast that CyrusOne Inc. will post $2.57 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.52 annualized dividend and a yield of 2.99%.

A number of hedge funds recently made changes to their positions in the stock. New York State Common Retirement Fund boosted its stake in shares of CyrusOne by 7.6% in the fourth quarter. New York State Common Retirement Fund now owns 72,718 shares of the company’s stock valued at $2,723,000 after buying an additional 5,112 shares during the period. Royce & Associates LLC boosted its stake in shares of CyrusOne by 66.1% in the fourth quarter. Royce & Associates LLC now owns 93,000 shares of the company’s stock valued at $3,483,000 after buying an additional 37,000 shares during the period. KBC Group NV boosted its stake in shares of CyrusOne by 36.8% in the fourth quarter. KBC Group NV now owns 127,818 shares of the company’s stock valued at $4,787,000 after buying an additional 34,402 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its stake in shares of CyrusOne by 11.4% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 245,000 shares of the company’s stock valued at $9,175,000 after buying an additional 25,000 shares during the period.

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 the CyrusOne footprint and beyond.

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