Equinix, Inc. $EQIX is Vision Capital Corp’s 2nd Largest Position

Vision Capital Corp lifted its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 36.3% in the third quarter, Holdings Channel reports. The institutional investor owned 45,075 shares of the financial services provider’s stock after acquiring an additional 12,000 shares during the quarter. Equinix comprises approximately 10.3% of Vision Capital Corp’s holdings, making the stock its 2nd largest position. Vision Capital Corp’s holdings in Equinix were worth $35,305,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Equinix by 1.2% in the third quarter. Vanguard Group Inc. now owns 13,291,679 shares of the financial services provider’s stock valued at $10,410,575,000 after acquiring an additional 162,638 shares during the last quarter. State Street Corp increased its stake in Equinix by 3.7% during the second quarter. State Street Corp now owns 6,249,780 shares of the financial services provider’s stock worth $4,971,512,000 after acquiring an additional 220,981 shares during the last quarter. JPMorgan Chase & Co. raised its position in Equinix by 25.8% in the third quarter. JPMorgan Chase & Co. now owns 2,875,355 shares of the financial services provider’s stock valued at $2,252,094,000 after purchasing an additional 588,967 shares during the period. Principal Financial Group Inc. raised its position in Equinix by 3.0% in the third quarter. Principal Financial Group Inc. now owns 1,969,498 shares of the financial services provider’s stock valued at $1,542,595,000 after purchasing an additional 56,592 shares during the period. Finally, APG Asset Management US Inc. lifted its stake in shares of Equinix by 0.4% in the 3rd quarter. APG Asset Management US Inc. now owns 1,211,357 shares of the financial services provider’s stock valued at $937,530,000 after purchasing an additional 5,109 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Trading Down 0.5%

Shares of EQIX stock traded down $4.47 on Friday, hitting $967.01. The stock had a trading volume of 89,819 shares, compared to its average volume of 650,654. The company’s 50 day moving average price is $867.66 and its 200-day moving average price is $812.35. Equinix, Inc. has a 1 year low of $701.41 and a 1 year high of $992.90. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a market capitalization of $95.01 billion, a P/E ratio of 70.54, a P/E/G ratio of 2.50 and a beta of 1.04.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share for the quarter, missing the consensus estimate of $9.07 by ($0.16). The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.46 billion. Equinix had a net margin of 14.65% and a return on equity of 9.60%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $7.92 earnings per share. Analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th will be issued a $5.16 dividend. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.1%. This is an increase from Equinix’s previous quarterly dividend of $4.69. The ex-dividend date is Wednesday, February 25th. Equinix’s dividend payout ratio (DPR) is presently 150.11%.

Insider Activity

In other Equinix news, Chairman Charles J. Meyers sold 2,716 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $965.15, for a total transaction of $2,621,347.40. Following the sale, the chairman directly owned 12,594 shares in the company, valued at $12,155,099.10. This represents a 17.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan Lin sold 888 shares of the firm’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $801.78, for a total transaction of $711,980.64. Following the completion of the transaction, the insider directly owned 9,390 shares of the company’s stock, valued at $7,528,714.20. This represents a 8.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,602 shares of company stock worth $11,369,645 over the last 90 days. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. 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 upped their target price on shares of Equinix from $925.00 to $975.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. Truist Financial increased their target price on shares of Equinix from $973.00 to $1,087.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. The Goldman Sachs Group boosted their price target on shares of Equinix from $785.00 to $894.00 and gave the company a “neutral” rating in a research note on Thursday, February 12th. Finally, UBS Group upped their price objective on shares of Equinix from $950.00 to $1,010.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,006.91.

About Equinix

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.