|Bid||69.93 x 800|
|Ask||69.97 x 3100|
|Day's Range||69.67 - 70.57|
|52 Week Range||48.94 - 75.48|
|Beta (3Y Monthly)||0.63|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 28, 2019 - Nov 1, 2019|
|Forward Dividend & Yield||2.00 (3.09%)|
|1y Target Est||68.71|
Though data-center demand surge will fuel Digital Realty's (DLR) growth, with the company also being well poised to bank on accretive buyouts and development moves, pricing pressure will linger.
Shares of CyrusOne Inc. , a date center real estate investment trust, rose more than 8% Friday, after a Bloomberg report that the company is exploring a sale after drawing takeover interest. The news sent rivals higher with QTS Realty Trust Inc. up 3.3%, Digital Realty Trust up 2.7%, CoreSite Realty Corp. up 2.9% and Equinix Inc. up 1%. Wells Fargo analysts said the report is likely true and there is a reasonable probability the company will be taken private by a group of private infrastructure investors. Among the reasons that a take-private deal would make sense for CyrusOne is that investors have been paying premiums for hyperscale assets compared with where they would trade in public markets, the analysts wrote in a note to clients. They tend to take a longer-term investment horizon and are less focused on quarter-to-quarter volatility and could lever up the company to enable it more aggressively expand in Europe and other international markets, said the note. "On the other hand, CONE itself has noted that large hyperscale customers prefer to work with other public companies and that their access to public capital should open up dramatically once they get a second investment-grade rating," they said. CyrusOne is trading at abut 19 times Wells Fargo's next twelve month EBITDA estimate, which compares with Digital Realty's acquisition of REIT DuPont Fabros Technology , which came at a roughly 20 times multiple. "CyrusOne in many ways deserves a premium over DuPont Fabros given it has a strategic international platform, less customer concentration than DFT (which had a large pending rent roll-down with Facebook) and a more diversified business model," said the note. "On the other hand, this would be an acquisition of significant size for a private infrastructure consortium, which could merit a slight discount (for instance, ZAYO sold at a notable discount to many smaller-scale fiber assets)." CyrusOne shares have gained 32% in 2019, while the S&P 500 has gained 15%.
Dallas-based CyrusOne (Nasdaq: CONE) is considering selling itself after receiving investor interest, according to a new report. The data center developer and operator is working with an adviser to evaluate strategic options, according to a Bloomberg report on Friday, which cited people familiar with the matter. A bidder group included KKR & Co. along with Stonepeak Infrastructure Partners and I Squared Capital, according to the report, which cited one of the people.
(Bloomberg) -- CyrusOne Inc. is considering a potential sale after receiving takeover interest, according to people familiar with the matter, as digital infrastructure companies such as data center operators increasingly garner buyout interest from rivals and private buyers.The Dallas-based company is working with an adviser to evaluate strategic options after a recent approach from at least one potential suitor, said the people, who asked to not be identified because the matter isn’t public.A bidder group including KKR & Co., Stonepeak Infrastructure Partners and I Squared Capital is in the preliminary stages of weighing a bid for the company, said one of the people. Other potential bidders are interested too, the people said. No decision has been made and CyrusOne could opt to remain independent, they said.CyrusOne rose as high as 16.6% on the news, its biggest gain since going public in 2013. The shares were up 11.7% to $72.79 at 11:36 a.m. in New York on Friday, giving the company a market value of about $8.2 billion.A representative for KKR declined to comment. Representatives for Stonepeak, I Squared and CyrusOne didn’t respond to requests for comment.Founded in 2001, CyrusOne has a network of 48 data centers serving about 1,000 customers in the U.S., U.K., Singapore and Germany, according to its annual report. It is one of at least five real estate investment trusts that specialize in data centers, which help companies safely store data. Others include Equinix Inc. and Digital Realty Trust Inc.Reit DealsThe potential sale comes as data center REITs seek to expand globally through acquisitions to take advantage of strong demand for their services. CyrusOne acquired European data center operator Zenium Technology Partners Ltd. for $442 million last year and Digital Realty acquired Brazil’s Ascenty for about $1.8 billion. Equinix recently signed a joint venture with Singapore’s sovereign wealth fund, GIC Pte, to operate and develop data centers in Europe.Alternative investment firms have been sizing up large deals after raising huge pools of capital dedicated to the infrastructure sector, which -- apart from digital-related assets like data centers -- also includes transportation assets, oil and gas pipelines and renewable energy projects.KKR, Stonepeak and I Squared have worked together previously. The trio teamed up with peers including Blackstone Group Inc. to pursue Zayo Group Holdings Inc., Bloomberg reported late last year.(Updates with additional details throughout.)\--With assistance from Liana Baker and Nabila Ahmed.To contact the reporters on this story: Gillian Tan in New York at email@example.com;Kiel Porter in Chicago at firstname.lastname@example.orgTo contact the editors responsible for this story: Alan Goldstein at email@example.com, ;Liana Baker at firstname.lastname@example.org, Matthew Monks, Amy ThomsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
CyrusOne shares are rising more than 8% Friday after Bloomberg reported that the company is exploring a sale after receiving takeover interest from at least one potential suitor. The Dallas real estate investment trust specializing in data centers is working with an adviser to evaluate strategic options after it received takeover interest, sources told the news service. One of Bloomberg's sources said that a group including KKR & Co. , Stonepeak Infrastructure and I Squared Capital is mulling whether to bid for the company.
CyrusOne, a premier global data center REIT, today announced it is expanding its partnership with Megaport Limited (MP1.AX), a global leading Network as a Service provider, and is deploying the full suite of Megaport services at its London I data center in Slough, U.K. Megaport’s elastic connectivity provides the flexibility to vary connectivity requirements based on actual demand. CyrusOne customers can order new cloud services, scale, and control in real-time, enabling them to deploy a network strategy in days and pay only for what they need.
Digital Realty's (DLR) expansion of IBM Cloud's Direct Link access and capabilities in Sydney likely to speed up the hybrid cloud adoption for local enterprises.
CyrusOne Inc. , a premier global data center REIT, today announced that it will present at the Cowen 5th Annual Communications Infrastructure Summit being held August 12-13, 2019, at the St.
CyrusOne (CONE) delivered FFO and revenue surprises of 11.11% and 5.82%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
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While solid origination volumes will support Arbor Realty's (ABR) Q2 results, anticipated year-over-year decline in its bottom line might thwart the company's quarterly performance.