DALLAS--(BUSINESS WIRE)-- CyrusOne Inc. (NASDAQ:CONE), a premier global data center REIT, today announced that it will issue results for the fourth quarter 2021 after the market closes on Wednesday, February 16, 2022. As a result of the previously announced definitive merger agreement pursuant to which KKR and GIP will acquire all outstanding shares of common stock of CyrusOne in an all-cash transaction, the Company will not conduct a fourth quarter 2021 earnings conference call. As announced on February 1, the proposal to approve the merger, the merger agreement and the other transactions con...
DALLAS--(BUSINESS WIRE)-- CyrusOne Inc. (NASDAQ: CONE) (the “Company” or “CyrusOne”), a premier global data center REIT, today announced its stockholders approved the previously announced merger pursuant to which funds managed by KKR, a leading global investment firm, and Global Infrastructure Partners (“GIP”), one of the world’s leading infrastructure investors, will acquire all outstanding shares of common stock of the Company. At a virtual special meeting held today, the proposal to approve the merger, the merger agreement and the other transactions contemplated by the merger agreement was ...
CYRUSONE (US), a company active in the Real Estate Investment Trusts industry, has received a double requalification by the independent financial analyst theScreener. Its fundamental valuation is now 3 out of 4 stars while its market behaviour can be considered as defensive. theScreener believes that the gain of a star(s) and an improvement in the market risk perception allows upgrading the general evaluation to Slightly Positive. As of the analysis date September 28, 2021, the closing price was...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
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CyrusOne is primarily a wholesale data center provider that pursues hyperscale tenants. About three fourths of its rental revenue comes from its largest leases--those for over 10,000 square feet--and cloud providers account for about one third of total sales. While the firm has seen major growth in interconnection revenue recently, as more enterprises are colocating and connecting with their cloud providers, it does not operate any major Internet exchanges, and many properties are in second-tier...
CyrusOne missed consensus first-quarter revenue and EBITDA estimates, but we don't see those as the most important pieces of information coming from this quarter's report. The firm bounced back with improved bookings after a disappointing fourth quarter, is gaining traction in its nascent European business, and disclosed it won't have to issue any more equity in 2019. Without a network colocation-focused business model like some other data center firms, we still don't think Cyrus has a moat, but...
CyrusOne missed consensus first-quarter revenue and EBITDA estimates, but we don't see those as the most important pieces of information coming from this quarter's report. The firm bounced back with improved bookings after a disappointing fourth quarter, is gaining traction in its nascent European business, and disclosed it won't have to issue any more equity in 2019. Without a network colocation-focused business model like some other data center firms, we still don't think Cyrus has a moat, but...
CyrusOne missed consensus first-quarter revenue and EBITDA estimates, but we don't see those as the most important pieces of information coming from this quarter's report. The firm bounced back with improved bookings after a disappointing fourth quarter, is gaining traction in its nascent European business, and disclosed it won't have to issue any more equity in 2019. Without a network colocation-focused business model like some other data center firms, we still don't think Cyrus has a moat, but...
CyrusOne is primarily a wholesale data center provider that pursues hyperscale tenants. About three fourths of its rental revenue comes from its largest leases--those for over 10,000 square feet--and cloud providers account for about one third of total sales. While the firm has seen major growth in interconnection revenue recently, as more enterprises are colocating and connecting with their cloud providers, it does not operate any major Internet exchanges, and many properties are in second-tier...
CyrusOne concluded a good year with a weak fourth quarter, and the company issued 2019 expectations that management acknowledged as disappointing versus outsider expectations. Despite this, management expressed confidence that CyrusOne's opportunities and long-term growth trajectory are still bright. Underlying our no-moat rating on the firm is our belief that anyone with capital can build identical data centers and offer a comparable service. We believe the current weakness reflects that. Howev...
CyrusOne concluded a good year with a weak fourth quarter, and the company issued 2019 expectations that management acknowledged as disappointing versus outsider expectations. Despite this, management expressed confidence that CyrusOne's opportunities and long-term growth trajectory are still bright. Underlying our no-moat rating on the firm is our belief that anyone with capital can build identical data centers and offer a comparable service. We believe the current weakness reflects that. Howev...
CyrusOne concluded a good year with a weak fourth quarter, and the company issued 2019 expectations that management acknowledged as disappointing versus outsider expectations. Despite this, management expressed confidence that CyrusOne's opportunities and long-term growth trajectory are still bright. Underlying our no-moat rating on the firm is our belief that anyone with capital can build identical data centers and offer a comparable service. We believe the current weakness reflects that. Howev...
CyrusOne's third-quarter results missed consensus estimates on the top and bottom lines and likewise fell a bit short of our expectations. However, Cyrus is still generally tracking our full-year forecast, and we don't see anything in the quarter to alter our longer-term views. We are maintaining our $50 fair value estimate. Despite the recent pullback that has brought the stock close to our fair value estimate, we continue to favor the other data center names we cover, which also sold off recen...
We are initiating coverage on CyrusOne with a no-moat rating, stable trend, and fair value estimate of $50 per share, which implies an EV/adjusted EBITDA multiple of 16 and a price/AFFO multiple of 16 based on our 2018 forecast. We view the stock as overvalued at current levels, and we would likely be looking to other names in the space on an industrywide pullback. CyrusOne is primarily a wholesale data center provider that pursues hyperscale tenants. About 70% of its annualized rent comes from...
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