CyrusOne (NASDAQ:CONE) was downgraded by equities research analysts at BMO Capital Markets from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday, MarketBeat reports. They currently have a $67.00 price target on the real estate investment trust’s stock, down from their prior price target of $73.00. BMO Capital Markets’ target price indicates a potential upside of 4.69% from the company’s previous close.
CONE has been the subject of a number of other research reports. UBS Group boosted their target price on shares of CyrusOne from $64.00 to $70.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Stifel Nicolaus reissued a “buy” rating and issued a $85.00 target price on shares of CyrusOne in a research report on Tuesday, December 3rd. Zacks Investment Research raised shares of CyrusOne from a “hold” rating to a “buy” rating and set a $73.00 target price for the company in a research report on Monday, January 6th. Cowen cut shares of CyrusOne from an “outperform” rating to a “market perform” rating in a research report on Friday, October 4th. Finally, SunTrust Banks set a $78.00 price objective on shares of CyrusOne and gave the stock a “buy” rating in a research report on Friday, November 1st. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $72.77.
Shares of NASDAQ:CONE traded up $0.75 on Tuesday, hitting $64.00. The company had a trading volume of 129,219 shares, compared to its average volume of 909,521. CyrusOne has a 1-year low of $48.94 and a 1-year high of $79.73. The stock has a market cap of $6.98 billion, a price-to-earnings ratio of 19.34, a P/E/G ratio of 1.04 and a beta of 0.44. The stock has a 50 day moving average price of $64.01 and a 200 day moving average price of $67.28. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.21.
In other CyrusOne news, CEO Gary J. Wojtaszek sold 100,000 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $67.00, for a total transaction of $6,700,000.00. Following the completion of the transaction, the chief executive officer now owns 167,351 shares of the company’s stock, valued at $11,212,517. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Mark Skomal sold 1,083 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $68.47, for a total value of $74,153.01. Following the transaction, the chief accounting officer now directly owns 5,515 shares of the company’s stock, valued at approximately $377,612.05. The disclosure for this sale can be found here. Insiders have sold 143,539 shares of company stock valued at $9,667,068 in the last ninety days. 1.40% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Prime Capital Investment Advisors LLC acquired a new position in shares of CyrusOne in the third quarter valued at approximately $29,000. FNY Investment Advisers LLC acquired a new position in shares of CyrusOne in the fourth quarter valued at approximately $32,000. Meeder Asset Management Inc. increased its stake in shares of CyrusOne by 4,750.0% in the third quarter. Meeder Asset Management Inc. now owns 582 shares of the real estate investment trust’s stock valued at $46,000 after buying an additional 570 shares during the period. Howe & Rusling Inc. increased its stake in shares of CyrusOne by 36.4% in the third quarter. Howe & Rusling Inc. now owns 750 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 200 shares during the period. Finally, Strategic Blueprint LLC acquired a new stake in CyrusOne during the 3rd quarter valued at approximately $86,000.
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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