Chevy Chase Trust Holdings Inc. Purchases New Stake in CyrusOne Inc (CONE)

Chevy Chase Trust Holdings Inc. bought a new position in shares of CyrusOne Inc (NASDAQ:CONE) during the second quarter, Holdings Channel reports. The fund bought 258,601 shares of the real estate investment trust’s stock, valued at approximately $14,417,000.

A number of other large investors also recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its stake in 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 valued at $116,000 after buying an additional 388 shares during the period. Perigon Wealth Management LLC boosted its stake in CyrusOne by 941.7% in the first quarter. Perigon Wealth Management LLC now owns 3,125 shares of the real estate investment trust’s stock valued at $162,000 after buying an additional 2,825 shares during the period. Pitcairn Co. acquired a new stake in CyrusOne during the first quarter valued at about $204,000. Soros Fund Management LLC acquired a new stake in CyrusOne during the first quarter valued at about $211,000. Finally, Comerica Bank acquired a new stake in CyrusOne during the fourth quarter valued at about $203,000. Hedge funds and other institutional investors own 98.80% of the company’s stock.

CyrusOne Inc (NASDAQ:CONE) opened at 57.19 on Monday. CyrusOne Inc has a 52-week low of $38.80 and a 52-week high of $59.35.

CyrusOne (NASDAQ:CONE) last released its earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.04. The firm had revenue of $149.30 million during the quarter, compared to analyst estimates of $150.63 million. CyrusOne had a negative net margin of 2.87% and a positive return on equity of 2.27%. On average, analysts forecast that CyrusOne Inc will post ($0.10) earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend was Wednesday, June 28th. CyrusOne’s dividend payout ratio is -884.16%.

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Several research firms have recently issued reports on CONE. Barclays PLC raised their price objective on CyrusOne from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, April 25th. Macquarie restated an “outperform” rating and set a $58.00 price objective on shares of CyrusOne in a report on Tuesday, July 4th. BidaskClub cut CyrusOne from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 29th. Stifel Nicolaus raised their price objective on CyrusOne from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, May 5th. Finally, Morgan Stanley restated an “overweight” rating and set a $58.00 price objective (up previously from $56.00) on shares of CyrusOne in a report on Wednesday, May 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $59.00.

In other news, CEO Gary J. Wojtaszek sold 38,294 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $58.01, for a total transaction of $2,221,434.94. Following the completion of the transaction, the chief executive officer now owns 511,621 shares of the company’s stock, valued at $29,679,134.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kevin L. Timmons sold 8,600 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $57.89, for a total transaction of $497,854.00. Following the transaction, the insider now directly owns 170,137 shares of the company’s stock, valued at approximately $9,849,230.93. The disclosure for this sale can be found here. In the last three months, insiders have sold 126,894 shares of company stock valued at $7,342,489. Company insiders own 1.64% of the company’s stock.

About CyrusOne

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.

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Institutional Ownership by Quarter for CyrusOne (NASDAQ:CONE)

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