Fred Alger Management Inc. lowered its stake in CyrusOne Inc (NASDAQ:CONE) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 146,813 shares of the real estate investment trust’s stock after selling 4,256 shares during the period. Fred Alger Management Inc.’s holdings in CyrusOne were worth $8,740,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Atlantic Trust Group LLC acquired a new stake in CyrusOne during the 3rd quarter worth $93,942,000. Santa Barbara Asset Management LLC acquired a new stake in CyrusOne during the 3rd quarter worth $65,169,000. Cbre Clarion Securities LLC grew its holdings in CyrusOne by 21.7% during the 4th quarter. Cbre Clarion Securities LLC now owns 3,248,065 shares of the real estate investment trust’s stock worth $193,357,000 after acquiring an additional 579,122 shares during the period. Janus Henderson Group PLC grew its holdings in CyrusOne by 29.9% during the 3rd quarter. Janus Henderson Group PLC now owns 1,091,406 shares of the real estate investment trust’s stock worth $64,317,000 after acquiring an additional 251,472 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in CyrusOne by 108.3% during the 3rd quarter. Wells Fargo & Company MN now owns 475,305 shares of the real estate investment trust’s stock worth $28,010,000 after acquiring an additional 247,103 shares during the period. 99.54% of the stock is owned by institutional investors and hedge funds.
Shares of CyrusOne Inc (NASDAQ:CONE) opened at $49.66 on Monday. The company has a market cap of $4,773.60, a price-to-earnings ratio of -52.27, a P/E/G ratio of 0.89 and a beta of 0.83. CyrusOne Inc has a 52-week low of $43.49 and a 52-week high of $65.73. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.95 and a quick ratio of 0.95.
In related news, insider Kevin L. Timmons sold 11,465 shares of the business’s stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $49.39, for a total value of $566,256.35. Following the sale, the insider now directly owns 177,843 shares of the company’s stock, valued at approximately $8,783,665.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.64% of the company’s stock.
A number of research firms have commented on CONE. BidaskClub lowered shares of CyrusOne from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. Guggenheim set a $65.00 target price on shares of CyrusOne and gave the stock a “buy” rating in a report on Friday, February 23rd. Royal Bank of Canada reaffirmed a “buy” rating on shares of CyrusOne in a report on Thursday, March 1st. Credit Suisse Group set a $73.00 target price on shares of CyrusOne and gave the stock a “buy” rating in a report on Wednesday, February 21st. Finally, Jefferies Group reaffirmed a “buy” rating and set a $67.00 target price on shares of CyrusOne in a report on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $66.62.
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.
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