Deutsche Bank AG Reiterates Buy Rating for CyrusOne Inc (NASDAQ:CONE)
CyrusOne Inc (NASDAQ:CONE)‘s stock had its “buy” rating reiterated by Deutsche Bank AG in a report issued on Friday. They currently have a $64.00 target price on the real estate investment trust’s stock, up from their prior target price of $62.00. Deutsche Bank AG’s price objective indicates a potential upside of 9.42% from the company’s previous close.
Several other analysts also recently issued reports on the company. Credit Suisse Group initiated coverage on CyrusOne in a research note on Friday, June 30th. They set an “outperform” rating and a $73.00 price target for the company. Morgan Stanley reiterated an “overweight” rating and set a $58.00 price target (up previously from $56.00) on shares of CyrusOne in a research note on Wednesday, May 17th. TheStreet downgraded CyrusOne from a “b-” rating to a “c” rating in a research note on Wednesday, May 3rd. Stifel Nicolaus reiterated a “buy” rating on shares of CyrusOne in a research note on Tuesday, April 25th. Finally, Royal Bank Of Canada upped their price target on CyrusOne from $59.00 to $63.00 and gave the stock an “outperform” rating in a research note on Monday, May 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $60.23.
CyrusOne (NASDAQ:CONE) traded up 1.85% during trading on Friday, reaching $58.49. The company had a trading volume of 1,352,442 shares. CyrusOne has a 12 month low of $38.80 and a 12 month high of $60.55. The stock has a 50 day moving average of $57.40 and a 200-day moving average of $53.63. The company’s market capitalization is $5.15 billion.
CyrusOne (NASDAQ:CONE) last issued its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. The company had revenue of $166.90 million for the quarter, compared to analyst estimates of $165.71 million. CyrusOne had a positive return on equity of 1.30% and a negative net margin of 4.35%. The business’s revenue was up 28.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 EPS. Equities research analysts expect that CyrusOne will post ($0.11) EPS for the current fiscal year.
TRADEMARK VIOLATION NOTICE: This article was first reported by Daily Political and is the property of of Daily Political. If you are reading this article on another domain, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The correct version of this article can be read at https://www.dailypolitical.com/2017/08/11/deutsche-bank-ag-reiterates-buy-rating-for-cyrusone-inc-nasdaqcone.html.
In related news, insider Gary J. Wojtaszek sold 80,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now owns 511,621 shares in the company, valued at approximately $29,566,577.59. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gary J. Wojtaszek sold 38,294 shares of the stock in a transaction that occurred on Monday, June 5th. The shares were 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 owns 511,621 shares of the company’s stock, valued at approximately $29,679,134.21. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 126,894 shares of company stock valued at $7,342,489. 1.64% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of CyrusOne by 9,082.1% in the first quarter. BlackRock Inc. now owns 6,929,733 shares of the real estate investment trust’s stock valued at $356,674,000 after buying an additional 6,854,263 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of CyrusOne by 23.0% in the first quarter. Vanguard Group Inc. now owns 11,861,462 shares of the real estate investment trust’s stock valued at $610,510,000 after buying an additional 2,220,488 shares during the last quarter. Cbre Clarion Securities LLC acquired a new stake in shares of CyrusOne during the second quarter valued at $93,042,000. State Street Corp increased its stake in shares of 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 last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of CyrusOne by 1,668.0% in the first quarter. Nomura Asset Management Co. Ltd. now owns 869,130 shares of the real estate investment trust’s stock valued at $44,734,000 after buying an additional 819,970 shares during the last quarter. Hedge funds and other institutional investors 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.
Receive News & Ratings for CyrusOne Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CyrusOne Inc and related companies with MarketBeat.com's FREE daily email newsletter.