Convergence Investment Partners LLC Invests $648,000 in CyrusOne Inc (NASDAQ:CONE)

Convergence Investment Partners LLC bought a new position in shares of CyrusOne Inc (NASDAQ:CONE) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 8,905 shares of the real estate investment trust’s stock, valued at approximately $648,000.

Several other institutional investors also recently modified their holdings of CONE. SeaBridge Investment Advisors LLC acquired a new position in CyrusOne in the first quarter valued at approximately $25,000. Column Capital Advisors LLC acquired a new position in CyrusOne in the first quarter valued at approximately $25,000. tru Independence LLC lifted its holdings in CyrusOne by 65.5% in the first quarter. tru Independence LLC now owns 422 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 167 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new position in CyrusOne in the first quarter valued at approximately $27,000. Finally, Lindbrook Capital LLC acquired a new position in CyrusOne in the first quarter valued at approximately $35,000. Institutional investors and hedge funds own 95.33% of the company’s stock.

In other CyrusOne news, EVP Kevin L. Timmons sold 5,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $73.45, for a total value of $367,250.00. Following the completion of the transaction, the executive vice president now owns 48,492 shares in the company, valued at $3,561,737.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Klayko sold 5,515 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $73.60, for a total transaction of $405,904.00. The disclosure for this sale can be found here. Insiders sold 48,595 shares of company stock valued at $3,619,096 in the last 90 days. 0.55% of the stock is currently owned by insiders.

A number of research analysts recently commented on the company. Raymond James upped their price objective on CyrusOne from $75.00 to $82.00 and gave the company an “outperform” rating in a report on Tuesday, June 23rd. Wells Fargo & Co boosted their target price on CyrusOne from $76.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, July 10th. Barclays began coverage on CyrusOne in a research report on Wednesday, July 15th. They issued an “equal weight” rating and a $82.00 target price on the stock. Zacks Investment Research lowered CyrusOne from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 7th. Finally, Morgan Stanley boosted their target price on CyrusOne from $71.00 to $79.00 and gave the company an “overweight” rating in a research report on Wednesday, June 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $78.67.

Shares of CyrusOne stock traded up $0.25 during trading hours on Friday, reaching $83.42. 1,347,139 shares of the company were exchanged, compared to its average volume of 803,503. The firm has a market cap of $9.61 billion, a PE ratio of 490.73, a PEG ratio of 0.98 and a beta of 0.41. The stock’s fifty day moving average is $76.07 and its 200 day moving average is $67.96. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.20 and a current ratio of 1.34. CyrusOne Inc has a 1 year low of $43.72 and a 1 year high of $84.56.

CyrusOne (NASDAQ:CONE) last posted its earnings results on Wednesday, July 29th. The real estate investment trust reported $0.39 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.54). The business had revenue of $256.40 million during the quarter, compared to analysts’ expectations of $251.59 million. CyrusOne had a net margin of 2.01% and a return on equity of 3.32%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $0.90 EPS. Research analysts expect that CyrusOne Inc will post 3.84 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Friday, September 25th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Thursday, September 24th. This is a positive change from CyrusOne’s previous quarterly dividend of $0.50. CyrusOne’s dividend payout ratio is 55.10%.

CyrusOne Company Profile

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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Institutional Ownership by Quarter for CyrusOne (NASDAQ:CONE)

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