Friedberg Investment Management Reduces Stake in CyrusOne Inc (NASDAQ:CONE)

Friedberg Investment Management lessened its position in CyrusOne Inc (NASDAQ:CONE) by 68.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,630 shares of the real estate investment trust’s stock after selling 62,915 shares during the period. CyrusOne comprises 2.8% of Friedberg Investment Management’s portfolio, making the stock its 11th largest holding. Friedberg Investment Management’s holdings in CyrusOne were worth $1,746,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bellwether Investment Group LLC increased its holdings in CyrusOne by 1.7% during the second quarter. Bellwether Investment Group LLC now owns 5,710 shares of the real estate investment trust’s stock valued at $318,000 after buying an additional 97 shares during the last quarter. Zevenbergen Capital Investments LLC increased its stake in shares of CyrusOne by 1.6% in the second quarter. Zevenbergen Capital Investments LLC now owns 11,405 shares of the real estate investment trust’s stock worth $636,000 after purchasing an additional 175 shares in the last quarter. Campbell Newman Asset Management Inc. increased its stake in shares of CyrusOne by 4.8% in the second quarter. Campbell Newman Asset Management Inc. now owns 4,404 shares of the real estate investment trust’s stock worth $246,000 after purchasing an additional 201 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of CyrusOne by 6.3% in the second quarter. Teacher Retirement System of Texas now owns 6,297 shares of the real estate investment trust’s stock worth $351,000 after purchasing an additional 372 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of CyrusOne by 20.5% in the first quarter. PNC Financial Services Group Inc. now owns 2,280 shares of the real estate investment trust’s stock worth $116,000 after purchasing an additional 388 shares in the last quarter. Hedge funds and other institutional investors own 98.50% of the company’s stock.

CyrusOne Inc (CONE) traded up $1.76 during trading hours on Thursday, hitting $59.88. 893,771 shares of the stock were exchanged, compared to its average volume of 1,058,445. The company has a market cap of $5,342.49, a PE ratio of 19.77, a P/E/G ratio of 1.05 and a beta of 0.79. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 1.56. CyrusOne Inc has a twelve month low of $42.99 and a twelve month high of $65.73.

CyrusOne (NASDAQ:CONE) last released its earnings results on Monday, October 30th. The real estate investment trust reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($1.37). CyrusOne had a negative return on equity of 3.23% and a negative net margin of 13.60%. The company had revenue of $175.30 million during the quarter, compared to analyst estimates of $177.62 million. During the same quarter last year, the business earned $0.67 earnings per share. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. equities analysts expect that CyrusOne Inc will post 3.09 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Thursday, December 28th. CyrusOne’s payout ratio is -173.19%.

A number of brokerages recently weighed in on CONE. BidaskClub lowered shares of CyrusOne from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 10th. Stifel Nicolaus restated a “buy” rating and set a $66.00 target price (up previously from $65.00) on shares of CyrusOne in a research report on Wednesday, August 9th. Jefferies Group reiterated a “buy” rating and set a $69.00 price objective on shares of CyrusOne in a research report on Monday, August 14th. ValuEngine lowered shares of CyrusOne from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Deutsche Bank restated a “buy” rating and issued a $64.00 target price (up previously from $62.00) on shares of CyrusOne in a report on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $64.15.

In other CyrusOne news, insider Venkatesh S. Durvasula sold 13,500 shares of CyrusOne stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $60.20, for a total transaction of $812,700.00. Following the completion of the sale, the insider now directly owns 214,063 shares in the company, valued at approximately $12,886,592.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.64% of the company’s stock.

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CyrusOne Company Profile

CyrusOne Inc is a real estate investment trust. The Company is an owner, operator and developer of enterprise-class, carrier-neutral, multi-tenant data center properties. The Company’s data centers are generally purpose-built facilities with redundant power and cooling. The CyrusOne National IX Platform (the National IX Platform) delivers interconnection across states and between metro-enabled sites within its footprint and beyond.

Institutional Ownership by Quarter for CyrusOne (NASDAQ:CONE)

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