Equinix, Inc. $EQIX is Centersquare Investment Management LLC’s 3rd Largest Position

Centersquare Investment Management LLC reduced its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 885,960 shares of the financial services provider’s stock after selling 12,901 shares during the quarter. Equinix accounts for 7.0% of Centersquare Investment Management LLC’s portfolio, making the stock its 3rd biggest holding. Centersquare Investment Management LLC owned about 0.90% of Equinix worth $693,919,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Westside Investment Management Inc. grew its position in Equinix by 190.9% in the 2nd quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 21 shares during the period. Atlantic Union Bankshares Corp purchased a new position in shares of Equinix in the second quarter worth approximately $26,000. Bank of Jackson Hole Trust boosted its holdings in shares of Equinix by 70.0% in the second quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock worth $27,000 after buying an additional 14 shares during the last quarter. Abound Wealth Management grew its position in Equinix by 209.1% during the third quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock valued at $27,000 after buying an additional 23 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd purchased a new stake in Equinix during the second quarter valued at approximately $28,000. 94.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

EQIX has been the subject of a number of recent research reports. Barclays reissued a “positive” rating and set a $870.00 price objective on shares of Equinix in a research report on Tuesday, January 13th. Wells Fargo & Company lifted their target price on Equinix from $925.00 to $975.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. Stifel Nicolaus set a $1,075.00 price target on Equinix in a research report on Thursday, February 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Equinix in a research note on Thursday, January 22nd. Finally, Citigroup reiterated a “buy” rating on shares of Equinix in a research note on Thursday, February 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,001.41.

Insider Buying and Selling

In other news, insider Kurt Pletcher sold 596 shares of Equinix stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $801.78, for a total value of $477,860.88. Following the sale, the insider directly owned 3,195 shares of the company’s stock, valued at approximately $2,561,687.10. The trade was a 15.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael Shane Paladin sold 327 shares of the business’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $804.36, for a total value of $263,025.72. Following the completion of the sale, the insider owned 952 shares in the company, valued at $765,750.72. This represents a 25.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 14,353 shares of company stock worth $11,283,043 in the last 90 days. 0.27% of the stock is owned by company insiders.

Equinix Stock Performance

NASDAQ EQIX opened at $960.52 on Thursday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.40. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $992.90. The business has a 50-day moving average price of $823.68 and a 200-day moving average price of $798.58. The firm has a market cap of $94.37 billion, a price-to-earnings ratio of 69.86, a price-to-earnings-growth ratio of 1.89 and a beta of 1.06.

Equinix (NASDAQ:EQIX) last issued its earnings results on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.07 by ($0.16). Equinix had a net margin of 14.65% and a return on equity of 9.60%. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period last year, the business posted $7.92 EPS. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, equities research analysts predict that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th will be paid a dividend of $5.16 per share. The ex-dividend date of this dividend is Wednesday, February 25th. This is a positive change from Equinix’s previous quarterly dividend of $4.69. This represents a $20.64 annualized dividend and a yield of 2.1%. Equinix’s dividend payout ratio is 136.44%.

Equinix Profile

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.