Bruce Duncan, president and CEO, CyrusOne Inc. (Nasdaq: CONE), participated in a video interview in conjunction with Nareit’s REITworld: 2020 Annual Conference.
Duncan took over as CEO in July. He explained that CyrusOne’s approximately $9 billion market capitalization makes it possible to “move the needle” in terms of growth. He also cited CyrusOne’s development focus, noting that development offers good risk-adjusted returns. “It’s much better economically than buying existing assets.”
Duncan added that he is hopeful CyrusOne can “close the valuation gap” that exists between its share price and that of its peers.
Meanwhile, Duncan also noted that Europe is likely to play an increasingly important role for the data center REIT. “We think that by the end of 2021, Europe can account for almost 20% of total enterprise,” he said.