DLR - CyrusOne: Potential M&A Rewards Exist But The Dividend Isn't Currently Attractive Enough
- In my last article, I discussed what it might mean that CONE brought on veteran Bruce Duncan and has resulted in a relentless amount of M&A chatter.
- Typically, I am looking to buy shares when yields are above 3% and we sell off a portion of the position when yields are 2.50% or less.
- QTS Realty was recently acquired by Blackstone for $78/share, which was a 21% premium to the closing stock price on June 4th.
- Analysts estimate a takeover price between $95-$106/share for CONE which represents a 27.2%-41.9% premium over the current price.
For further details see:
CyrusOne: Potential M&A Rewards Exist But The Dividend Isn't Currently Attractive Enough