CyrusOne (NASDAQ:CONE) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of CyrusOne (NASDAQ:CONE) from a buy rating to a hold rating in a research note issued 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. “

A number of other equities research analysts have also commented on CONE. TheStreet lowered CyrusOne from a b- rating to a c rating in a research report on Wednesday, July 31st. Bank of America set a $80.00 price target on CyrusOne and gave the company a buy rating in a research report on Friday, August 16th. Morgan Stanley increased their price target on CyrusOne from $68.00 to $78.50 and gave the company an overweight rating in a research report on Thursday, September 19th. Guggenheim set a $81.00 price target on CyrusOne and gave the company a buy rating in a research report on Tuesday, September 24th. Finally, ValuEngine lowered CyrusOne from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Six analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $69.35.

Shares of NASDAQ:CONE traded up $0.15 during trading on Tuesday, reaching $76.00. 1,179,614 shares of the stock were exchanged, compared to its average volume of 969,090. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.58 and a quick ratio of 1.58. CyrusOne has a 1-year low of $48.94 and a 1-year high of $79.73. The stock has a fifty day moving average of $75.71 and a two-hundred day moving average of $64.05. The firm has a market cap of $8.59 billion, a price-to-earnings ratio of 22.96, a price-to-earnings-growth ratio of 1.42 and a beta of 0.53.

CyrusOne (NASDAQ:CONE) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.09. The business had revenue of $251.50 million during the quarter, compared to analyst estimates of $238.01 million. CyrusOne had a negative return on equity of 2.45% and a negative net margin of 7.44%. CyrusOne’s quarterly revenue was up 27.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.81 EPS. Sell-side analysts forecast that CyrusOne will post 3.55 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, September 27th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date was Thursday, September 26th. This is an increase from CyrusOne’s previous quarterly dividend of $0.46. CyrusOne’s dividend payout ratio is 60.42%.

A number of large investors have recently made changes to their positions in CONE. Cullen Frost Bankers Inc. grew its stake in CyrusOne by 190.8% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 538 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 353 shares during the period. Meeder Asset Management Inc. grew its stake in CyrusOne by 4,750.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 582 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 570 shares during the period. Strategic Blueprint LLC bought a new position in CyrusOne in the 3rd quarter valued at $86,000. Pearl River Capital LLC bought a new position in CyrusOne in the 2nd quarter valued at $94,000. Finally, SG3 Management LLC bought a new position in CyrusOne in the 2nd quarter valued at $115,000.

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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