Equinix, Inc. (NASDAQ:EQIX) Shares Sold by Land & Buildings Investment Management LLC

Land & Buildings Investment Management LLC lowered its position in Equinix, Inc. (NASDAQ:EQIX) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,472 shares of the financial services provider’s stock after selling 1,450 shares during the period. Equinix comprises approximately 7.9% of Land & Buildings Investment Management LLC’s holdings, making the stock its 3rd largest position. Land & Buildings Investment Management LLC’s holdings in Equinix were worth $39,104,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in EQIX. Kestra Investment Management LLC acquired a new stake in shares of Equinix in the 4th quarter worth approximately $31,000. J.Safra Asset Management Corp purchased a new position in Equinix in the 4th quarter valued at approximately $39,000. Sierra Ocean LLC purchased a new position in Equinix in the 4th quarter valued at approximately $42,000. Thompson Investment Management Inc. purchased a new position in Equinix in the 4th quarter valued at approximately $47,000. Finally, Cary Street Partners Financial LLC purchased a new position in Equinix in the 4th quarter valued at approximately $52,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Kurt Pletcher sold 215 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $929.73, for a total value of $199,891.95. Following the completion of the sale, the insider now owns 1,245 shares of the company’s stock, valued at $1,157,513.85. This trade represents a 14.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brandi Galvin Morandi sold 684 shares of Equinix stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total transaction of $643,308.84. Following the sale, the insider now directly owns 8,377 shares of the company’s stock, valued at $7,878,652.27. This represents a 7.55% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,167 shares of company stock worth $6,658,536. Insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

EQIX has been the subject of several research analyst reports. Scotiabank dropped their price objective on Equinix from $1,040.00 to $1,030.00 and set a “sector outperform” rating for the company in a research note on Tuesday, April 22nd. Wolfe Research raised Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 price objective for the company in a research note on Thursday, March 27th. Stifel Nicolaus raised their price target on Equinix from $1,030.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. JMP Securities reissued a “market outperform” rating and set a $1,200.00 price target on shares of Equinix in a research report on Thursday, May 1st. Finally, Wells Fargo & Company dropped their price target on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and six have given a strong buy rating to the stock. According to MarketBeat.com, Equinix presently has a consensus rating of “Buy” and a consensus price target of $1,005.11.

Equinix Stock Up 0.4%

EQIX stock opened at $864.39 on Monday. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $994.03. The company has a market cap of $84.55 billion, a PE ratio of 101.10, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97. The business’s 50-day simple moving average is $825.01 and its 200 day simple moving average is $894.10. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, topping analysts’ consensus estimates of $9.01 by $0.66. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.23 billion. Equinix had a return on equity of 6.31% and a net margin of 9.32%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the business earned $8.86 earnings per share. On average, research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be paid a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Wednesday, May 21st. Equinix’s dividend payout ratio (DPR) is currently 195.01%.

Equinix Profile

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.