CyrusOne Inc (NASDAQ:CONE) announced a quarterly dividend on Wednesday, July 29th, Zacks reports. Shareholders of record on Friday, September 25th will be given a dividend of 0.51 per share by the real estate investment trust on Friday, October 9th. This represents a $2.04 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Thursday, September 24th. This is an increase from CyrusOne’s previous quarterly dividend of $0.50.
CyrusOne has raised its dividend payment by an average of 26.3% annually over the last three years and has raised its dividend every year for the last 6 years. CyrusOne has a payout ratio of 1,818.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect CyrusOne to earn $4.11 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 48.7%.
CONE stock traded down $0.88 during mid-day trading on Friday, reaching $82.29. The company had a trading volume of 9,461 shares, compared to its average volume of 786,163. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $9.50 billion, a P/E ratio of 494.73, a P/E/G ratio of 0.96 and a beta of 0.41. CyrusOne has a one year low of $43.72 and a one year high of $84.13. The stock’s 50-day simple moving average is $75.93 and its two-hundred day simple moving average is $67.88.
In related news, EVP Kevin L. Timmons sold 5,000 shares of CyrusOne stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $73.45, for a total value of $367,250.00. Following the transaction, the executive vice president now owns 48,492 shares of the company’s stock, valued at approximately $3,561,737.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Klayko sold 5,515 shares of CyrusOne stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $73.60, for a total value of $405,904.00. The disclosure for this sale can be found here. Insiders sold a total of 48,595 shares of company stock worth $3,619,096 in the last three months. 0.55% of the stock is currently owned by company insiders.
A number of equities research analysts recently weighed in on the stock. BMO Capital Markets restated a “hold” rating and set a $70.00 price objective on shares of CyrusOne in a research note on Wednesday, April 29th. Morgan Stanley lifted their price objective on shares of CyrusOne from $71.00 to $79.00 and gave the company an “overweight” rating in a research note on Wednesday, June 3rd. KeyCorp lifted their price objective on shares of CyrusOne from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Citigroup lifted their price objective on shares of CyrusOne from $52.00 to $74.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Finally, Wells Fargo & Co lifted their price objective on shares of CyrusOne from $76.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $78.67.
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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