In this article, we discuss the 5 best dividend stocks to buy according to John Khoury’s Long Pond Capital. If you want to read our detailed analysis of Khoury’s history, investment philosophy, and hedge fund performance, go directly to the 10 Best Dividend Stocks to Buy According to John Khoury’s Long Pond Capital.
5. CyrusOne Inc. (NASDAQ: CONE)
Khoury’s Stake Value: $36,645,000
Percentage of John Khoury’s 13F Portfolio: 1.25%
Dividend Yield: 2.73%
Number of Hedge Fund Holders: 21
CyrusOne Inc. (NASDAQ: CONE) is a Dallas-based real estate investment trust that invests in carrier-neutral data centers. The company was founded in 2001 and stands fifth on the list of 10 best dividend stocks to buy according to John Khoury’s Long Pond Capital. CyrusOne currently has a $9.06 billion market capitalization.
On July 6, BMO Capital analyst Ari Klein upgraded CyrusOne Inc. (NASDAQ: CONE) from “Market Perform” to “Outperform” with a price target of $81 from $74. On April 28, CyrusOne declared Funds from operations (FFO) for the first quarter of 2021. It reported FFO of $1.00, beating market predictions by $0.02. The revenue for the first three months of 2021 was $298.6 million, up 21.4% YoY, beating the estimates by $26.97 million. The company’s adjusted EBITDA for the first quarter was $140.3 million, which outperformed the consensus estimate by $141.7 million.
The stock is a new arrival on John Khoury’s portfolio, as his hedge fund bought about 541,128 shares of CyrusOne Inc. (NASDAQ: CONE), worth $36.65 million. The shares account for about 1.25% of Long Pond Capital’s portfolio. Barry Rosenstein’s JANA Partners is the company’s most significant stakeholder, with 551,365 shares worth $37.34 million.