CyrusOne (NASDAQ:CONE) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research downgraded shares of CyrusOne (NASDAQ:CONE) from a buy rating to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports.

According to Zacks, “CyrusOne Inc. is a real estate investment trust engaged in providing enterprise data centre colocation, engineering facilities with the highest power redundancy (2N architecture) and power-density infrastructure services in the United States, Europe, and Asia. CyrusOne Inc. is headquartered in Carrollton, United States. “

CONE has been the topic of several other research reports. BidaskClub raised shares of Zai Lab from a buy rating to a strong-buy rating in a research report on Friday, June 28th. TheStreet downgraded shares of ZTO Express (Cayman) from a b+ rating to a c rating in a research report on Wednesday, May 1st. ValuEngine downgraded shares of Intersect ENT from a buy rating to a hold rating in a research report on Monday, June 3rd. Berenberg Bank dropped their target price on shares of Intu Properties from GBX 130 ($1.70) to GBX 100 ($1.31) and set a hold rating on the stock in a research report on Tuesday, May 7th. Finally, UBS Group set a €110.00 ($127.91) target price on shares of Wacker Chemie and gave the stock a buy rating in a research report on Thursday, June 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $63.80.



NASDAQ:CONE opened at $58.89 on Tuesday. The stock has a market cap of $6.66 billion, a P/E ratio of 17.79, a PEG ratio of 1.16 and a beta of 0.66. CyrusOne has a twelve month low of $48.94 and a twelve month high of $69.01. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.59 and a current ratio of 1.59. The stock’s 50 day moving average is $59.59.

CyrusOne (NASDAQ:CONE) last released its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.05. The company had revenue of $225.00 million for the quarter, compared to the consensus estimate of $231.36 million. CyrusOne had a net margin of 5.54% and a return on equity of 2.15%. CyrusOne’s revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.85 EPS. As a group, research analysts anticipate that CyrusOne will post 3.36 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 3.12%. The ex-dividend date was Thursday, June 27th. CyrusOne’s dividend payout ratio (DPR) is currently 55.59%.

Several hedge funds have recently added to or reduced their stakes in CONE. Deutsche Bank AG boosted its holdings in shares of CyrusOne by 157.0% in the 4th quarter. Deutsche Bank AG now owns 2,336,203 shares of the real estate investment trust’s stock valued at $123,534,000 after acquiring an additional 1,427,291 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of CyrusOne by 49.2% in the 4th quarter. Principal Financial Group Inc. now owns 3,319,179 shares of the real estate investment trust’s stock valued at $175,518,000 after acquiring an additional 1,094,406 shares during the last quarter. Norges Bank purchased a new stake in shares of CyrusOne in the 4th quarter valued at $55,190,000. Westfield Capital Management Co. LP purchased a new stake in shares of CyrusOne in the 1st quarter valued at $15,665,000. Finally, BlackRock Inc. boosted its holdings in shares of CyrusOne by 2.2% in the 1st quarter. BlackRock Inc. now owns 13,697,485 shares of the real estate investment trust’s stock valued at $718,297,000 after acquiring an additional 297,154 shares during the last quarter. 98.04% of the stock is currently owned by institutional investors and hedge funds.

About CyrusOne

CyrusOne (NASDAQ: CONE) is a high-growth real estate investment trust (REIT) specializing in highly reliable enterprise-class, carrier-neutral data center properties. The Company provides mission-critical data center facilities that protect and ensure the continued operation of IT infrastructure for approximately 1,000 customers, including 212 Fortune 1000 companies.

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