Long Pond Capital LP Makes New $36.65 Million Investment in CyrusOne Inc. (NASDAQ:CONE)

Long Pond Capital LP acquired a new position in CyrusOne Inc. (NASDAQ:CONE) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 541,128 shares of the real estate investment trust’s stock, valued at approximately $36,645,000. CyrusOne comprises about 1.3% of Long Pond Capital LP’s holdings, making the stock its 27th largest holding. Long Pond Capital LP owned approximately 0.44% of CyrusOne as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. tru Independence LLC acquired a new stake in CyrusOne in the fourth quarter worth about $26,000. Wealthcare Advisory Partners LLC purchased a new stake in shares of CyrusOne in the 1st quarter valued at $28,000. Associated Banc Corp increased its stake in shares of CyrusOne by 1,045.7% in the fourth quarter. Associated Banc Corp now owns 401 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 366 shares during the period. NuWave Investment Management LLC acquired a new stake in shares of CyrusOne in the first quarter worth $32,000. Finally, Regent Peak Wealth Advisors LLC acquired a new position in CyrusOne during the fourth quarter valued at $34,000.

CyrusOne stock traded down $2.76 during midday trading on Friday, reaching $79.39. The stock had a trading volume of 57,869 shares, compared to its average volume of 794,176. CyrusOne Inc. has a twelve month low of $61.64 and a twelve month high of $86.77. The firm has a 50-day moving average price of $72.83. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.06 and a quick ratio of 2.06. The stock has a market capitalization of $9.73 billion, a PE ratio of 215.32, a PEG ratio of 0.90 and a beta of 0.41.

CyrusOne (NASDAQ:CONE) last announced its earnings results on Tuesday, April 27th. The real estate investment trust reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.83). CyrusOne had a net margin of 4.13% and a return on equity of 1.75%. The firm had revenue of $298.60 million during the quarter, compared to analysts’ expectations of $271.57 million. During the same quarter last year, the company posted $0.97 earnings per share. CyrusOne’s revenue for the quarter was up 21.4% compared to the same quarter last year. Analysts predict that CyrusOne Inc. will post 3.96 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 9th. Investors of record on Friday, June 25th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Thursday, June 24th. CyrusOne’s dividend payout ratio (DPR) is 52.31%.

In related news, Director David H. Ferdman sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 21st. The stock was sold at an average price of $73.15, for a total transaction of $731,500.00. Following the sale, the director now directly owns 81,666 shares of the company’s stock, valued at approximately $5,973,867.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.31% of the company’s stock.

CONE has been the subject of several analyst reports. Zacks Investment Research raised CyrusOne from a “sell” rating to a “hold” rating in a report on Monday, April 26th. Barclays boosted their price target on CyrusOne from $82.00 to $84.00 and gave the company an “equal weight” rating in a report on Tuesday, April 27th. Evercore ISI began coverage on shares of CyrusOne in a research note on Thursday, March 11th. They set an “in-line” rating and a $70.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on CyrusOne from $77.00 to $85.00 and gave the company a “buy” rating in a research note on Friday. Finally, TheStreet lowered shares of CyrusOne from a “b-” rating to a “c” rating in a research report on Tuesday, June 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $83.45.

CyrusOne Company Profile

CyrusOne (NASDAQ: CONE) is a premier global REIT specializing in design, construction and operation of more than 50 high-performance data centers worldwide. The Company provides mission-critical facilities that ensure the continued operation of IT infrastructure for approximately 1,000 customers, including approximately 200 Fortune 1000 companies.

Read More: Why do analysts give a neutral rating?

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Institutional Ownership by Quarter for CyrusOne (NASDAQ:CONE)

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