Duff & Phelps Investment Management Co. Reduces Position in CyrusOne Inc (NASDAQ:CONE)
Duff & Phelps Investment Management Co. lowered its position in shares of CyrusOne Inc (NASDAQ:CONE) by 3.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 452,102 shares of the real estate investment trust’s stock after selling 18,350 shares during the period. Duff & Phelps Investment Management Co.’s holdings in CyrusOne were worth $25,205,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CONE. PNC Financial Services Group Inc. raised its stake in 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. Public Employees Retirement Association of Colorado raised its stake in CyrusOne by 21.6% in the second quarter. Public Employees Retirement Association of Colorado now owns 2,725 shares of the real estate investment trust’s stock valued at $152,000 after buying an additional 484 shares during the last quarter. Perigon Wealth Management LLC raised its stake in CyrusOne by 941.7% in the first quarter. Perigon Wealth Management LLC now owns 3,125 shares of the real estate investment trust’s stock valued at $162,000 after buying an additional 2,825 shares during the last quarter. Janney Capital Management LLC bought a new stake in CyrusOne during the second quarter valued at $210,000. Finally, Pitcairn Co. bought a new stake in CyrusOne during the first quarter valued at $204,000. Hedge funds and other institutional investors own 99.34% of the company’s stock.
Shares of CyrusOne Inc (NASDAQ:CONE) opened at 58.49 on Friday. CyrusOne Inc has a 1-year low of $38.80 and a 1-year high of $60.55.
CyrusOne (NASDAQ:CONE) last posted its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.77 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.03. CyrusOne had a positive return on equity of 1.30% and a negative net margin of 4.35%. The company had revenue of $166.90 million for the quarter, compared to the consensus estimate of $165.71 million. During the same quarter in the previous year, the business earned $0.67 earnings per share. The company’s revenue for the quarter was up 28.3% on a year-over-year basis. On average, equities research analysts anticipate that CyrusOne Inc will post ($0.11) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be given a $0.42 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.68 dividend on an annualized basis and a yield of 2.87%. CyrusOne’s dividend payout ratio is currently -541.92%.
CONE has been the topic of several recent research reports. Credit Suisse Group initiated coverage on CyrusOne in a report on Friday, June 30th. They set an “outperform” rating and a $73.00 price target on the stock. Morgan Stanley restated an “overweight” rating and set a $58.00 price target (up previously from $56.00) on shares of CyrusOne in a report on Wednesday, May 17th. TheStreet lowered CyrusOne from a “b-” rating to a “c” rating in a report on Wednesday, May 3rd. Stifel Nicolaus restated a “buy” rating on shares of CyrusOne in a report on Tuesday, April 25th. Finally, Royal Bank Of Canada increased their price target on CyrusOne from $59.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, May 15th. One 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 currently has a consensus rating of “Buy” and a consensus target price of $60.23.
In other CyrusOne news, insider Kevin L. Timmons sold 8,600 shares of CyrusOne stock in a transaction on Monday, June 5th. The stock was sold at an average price of $57.89, for a total value of $497,854.00. Following the sale, the insider now owns 170,137 shares in the company, valued at $9,849,230.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gary J. Wojtaszek sold 38,294 shares of CyrusOne stock in a transaction 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 completion of the sale, the chief executive officer now owns 511,621 shares in the company, valued at approximately $29,679,134.21. The disclosure for this sale can be found here. Insiders sold 126,894 shares of company stock worth $7,342,489 in the last 90 days. Company insiders own 1.64% of the company’s stock.
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.
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