Lasalle Investment Management Securities LLC Has $254.44 Million Stake in Equinix, Inc. $EQIX

Lasalle Investment Management Securities LLC lifted its position in Equinix, Inc. (NASDAQ:EQIX) by 9.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 324,851 shares of the financial services provider’s stock after purchasing an additional 26,973 shares during the period. Equinix accounts for about 10.0% of Lasalle Investment Management Securities LLC’s investment portfolio, making the stock its biggest position. Lasalle Investment Management Securities LLC’s holdings in Equinix were worth $254,436,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Westside Investment Management Inc. raised its position in Equinix by 190.9% during the 2nd quarter. Westside Investment Management Inc. now owns 32 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 21 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of Equinix in the second quarter valued at about $26,000. Abound Wealth Management lifted its stake in Equinix by 209.1% in the third quarter. Abound Wealth Management now owns 34 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 23 shares during the period. Clal Insurance Enterprises Holdings Ltd bought a new position in Equinix during the 2nd quarter worth about $28,000. Finally, Golden State Wealth Management LLC grew its holdings in Equinix by 1,466.7% during the 2nd quarter. Golden State Wealth Management LLC now owns 47 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 44 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling

In other Equinix news, insider Brandi Galvin Morandi sold 1,333 shares of the company’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $804.25, for a total transaction of $1,072,065.25. Following the transaction, the insider owned 9,551 shares in the company, valued at approximately $7,681,391.75. This represents a 12.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jonathan Lin sold 888 shares of Equinix stock in a transaction on Friday, January 16th. The stock was sold at an average price of $801.78, for a total transaction of $711,980.64. Following the sale, the insider owned 9,390 shares of the company’s stock, valued at $7,528,714.20. The trade was a 8.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 14,353 shares of company stock worth $11,283,043 over the last ninety days. Company insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

EQIX has been the subject of several research reports. Jefferies Financial Group upped their price target on shares of Equinix from $950.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Zacks Research downgraded shares of Equinix from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Truist Financial increased their target price on Equinix from $973.00 to $1,087.00 and gave the company a “buy” rating in a research report on Wednesday, February 18th. Morgan Stanley reiterated an “overweight” rating and issued a $1,075.00 price target on shares of Equinix in a report on Friday, February 13th. Finally, Guggenheim upped their price objective on Equinix from $933.00 to $985.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Two investment 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 MarketBeat, Equinix has a consensus rating of “Moderate Buy” and a consensus target price of $1,001.41.

Equinix Stock Performance

Shares of EQIX opened at $974.26 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.40. The firm has a market cap of $95.72 billion, a PE ratio of 70.86, a P/E/G ratio of 2.50 and a beta of 1.06. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $992.90. The stock has a fifty day moving average price of $832.07 and a 200-day moving average price of $801.08.

Equinix (NASDAQ:EQIX) last announced 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). Equinix had a return on equity of 9.60% and a net margin of 14.65%.The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter last year, the firm earned $7.92 earnings per share. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. Equities research analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

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

Equinix Company 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.