They now have a $64.00 target price on the real estate investment trust's stock, up from their prior target price of $62.00.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Credit Suisse Group initiated coverage on shares of CyrusOne in a report on Friday, June 30th. Jefferies Group LLC reaffirmed a "buy" rating and issued a $63.00 price objective on shares of CyrusOne in a research note on Tuesday, July 25th. TheStreet cut shares of CyrusOne from a "b-" rating to a "c" rating in a research note on Wednesday, May 3rd. Zacks Investment Research lowered CyrusOne from a "buy" rating to a "hold" rating in a research note on Tuesday. CyrusOne now has an average rating of "Buy" and an average price target of $59.85. The company had a trading volume of 1,352,442 shares.
Shares last traded at $57.43 which is slightly above the 50 day moving average of $57.40 and which is quite a bit above the 200 day moving average of $53.63. The company's market cap is $5.05 billion. CyrusOne has a 12 month low of $38.80 and a 12 month high of $60.55.
CyrusOne (NASDAQ:CONE) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.77 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.03. CyrusOne had a negative net margin of 4.35% and a positive return on equity of 1.30%. The firm had revenue of $166.90 million during the quarter, compared to analyst estimates of $165.71 million. Analysts expect next quarter's EPS to be $0.10 and the next full year EPS is projected to be $0.47. During the same period a year ago, the firm posted $0.67 earnings per share. Equities analysts predict that CyrusOne Inc will post ($0.11) EPS for the current fiscal year.
Global stocks fall on rising unease over North Korea
South Korea's KOSPI fell 1.8 per cent to an 11-1/2-week low, but its losses for the week are a relatively modest 3.2 per cent. Following Trump's remarks, North Korea on Wednesday said it was "carefully examining" plans for a missile attack on the U.S.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a dividend of $0.42 per share. The ex-dividend date has been established as Wednesday the 28th of June 2017. This represents a $1.68 annualized dividend and a dividend yield of 2.93%. CyrusOne's dividend payout ratio is now -541.92%.
In other news, CEO Gary J. Wojtaszek sold 38,294 shares of the firm's stock in a transaction on Monday, June 5th. The stock was sold at an average price of $58.01, for a total transaction of $2,221,434.94. Following the transaction, the chief executive officer now directly owns 511,621 shares of the company's stock, valued at $29,679,134.21. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
In related news, insider Gary J. Wojtaszek sold 80,000 shares of the stock in a transaction that occurred on Tuesday, June 6th. Following the completion of the sale, the insider now owns 511,621 shares in the company, valued at approximately $29,566,577.59. The disclosure for this sale can be found here. Insiders have sold a total of 126,894 shares of company stock worth $7,342,489 in the last quarter. The institutional investor owned 15,231 shares of the real estate investment trust's stock after selling 2,492 shares during the period. PNC Financial Services Group Inc. increased its position in shares of CyrusOne by 20.5% in the first quarter. Pitcairn Co. purchased a new position in shares of CyrusOne during the first quarter valued at about $204,000. Thrivent Financial For Lutherans bolstered its holdings by buying 121,336 shares an increase of 131.0% in the quarter. Public Employees Retirement Association of Colorado boosted its stake in shares of CyrusOne by 21.6% in the second quarter. State Street Corp now owns 1,944,811 shares of the real estate investment trust's stock valued at $100,098,000 after buying an additional 1,007,158 shares during the last quarter. State Street Corp increased its stake in shares of CyrusOne by 107.4% in the first quarter. Proshare Advisors LLC now owns 26,129 shares valued at $1,457,000.