Concorde Asset Management LLC Takes Position in CyrusOne Inc (CONE)
Concorde Asset Management LLC purchased a new position in shares of CyrusOne Inc (NASDAQ:CONE) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 4,255 shares of the real estate investment trust’s stock, valued at approximately $219,000.
Other hedge funds have also modified their holdings of the company. Public Employees Retirement Association of Colorado increased its stake in shares of CyrusOne by 0.4% in the third quarter. Public Employees Retirement Association of Colorado now owns 2,277 shares of the real estate investment trust’s stock worth $108,000 after buying an additional 8 shares during the period. Harvest Fund Management Co. Ltd acquired a new stake in shares of CyrusOne during the fourth quarter worth about $125,000. Kemper Corp Master Retirement Trust increased its stake in shares of CyrusOne by 42.2% in the third quarter. Kemper Corp Master Retirement Trust now owns 2,950 shares of the real estate investment trust’s stock worth $140,000 after buying an additional 875 shares during the period. BlackRock Japan Co. Ltd increased its stake in shares of CyrusOne by 0.6% in the third quarter. BlackRock Japan Co. Ltd now owns 3,662 shares of the real estate investment trust’s stock worth $174,000 after buying an additional 21 shares during the period. Finally, Comerica Bank acquired a new stake in shares of CyrusOne during the fourth quarter worth about $203,000. Hedge funds and other institutional investors own 96.42% of the company’s stock.
Shares of CyrusOne Inc (NASDAQ:CONE) traded down 0.760% during trading on Friday, hitting $54.155. The company had a trading volume of 454,038 shares. The stock has a market capitalization of $4.45 billion, a P/E ratio of 225.646 and a beta of 0.82. The firm’s 50 day moving average is $51.04 and its 200-day moving average is $47.25. CyrusOne Inc has a 52 week low of $38.80 and a 52 week high of $57.00.
CyrusOne (NASDAQ:CONE) last issued its quarterly earnings results on Wednesday, February 22nd. The real estate investment trust reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.05. CyrusOne had a return on equity of 1.78% and a net margin of 3.58%. The firm had revenue of $137.40 million for the quarter, compared to the consensus estimate of $136.28 million. During the same period in the prior year, the business posted $0.61 earnings per share. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. Equities research analysts anticipate that CyrusOne Inc will post $0.34 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 14th. Stockholders of record on Friday, March 31st were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.10%. This is an increase from CyrusOne’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Wednesday, March 29th. CyrusOne’s dividend payout ratio is presently 723.84%.
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A number of analysts have recently issued reports on the company. Royal Bank of Canada reiterated a “buy” rating and set a $59.00 price target on shares of CyrusOne in a research report on Wednesday, March 1st. Zacks Investment Research upgraded CyrusOne from a “strong sell” rating to a “hold” rating in a research report on Friday, January 6th. Jefferies Group LLC reissued a “buy” rating and set a $55.00 price objective on shares of CyrusOne in a report on Monday, February 27th. TheStreet raised CyrusOne from a “c” rating to a “b-” rating in a report on Thursday, February 23rd. Finally, Stifel Nicolaus raised their price objective on CyrusOne from $54.00 to $56.00 and gave the company a “buy” rating in a report on Friday, February 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $56.09.
In other CyrusOne news, insider Venkatesh S. Durvasula sold 10,000 shares of the firm’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $50.69, for a total transaction of $506,900.00. Following the transaction, the insider now directly owns 239,342 shares in the company, valued at approximately $12,132,245.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Venkatesh S. Durvasula sold 11,779 shares of the firm’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $50.90, for a total value of $599,551.10. Following the transaction, the insider now owns 227,563 shares in the company, valued at $11,582,956.70. The disclosure for this sale can be found here. Corporate insiders own 2.20% 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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