Land & Buildings Investment Management LLC Has $24.96 Million Position in Equinix, Inc. $EQIX

Land & Buildings Investment Management LLC reduced its stake in Equinix, Inc. (NASDAQ:EQIX) by 10.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,865 shares of the financial services provider’s stock after selling 3,717 shares during the period. Equinix accounts for 4.6% of Land & Buildings Investment Management LLC’s holdings, making the stock its 11th biggest holding. Land & Buildings Investment Management LLC’s holdings in Equinix were worth $24,958,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in EQIX. Brighton Jones LLC raised its stake in shares of Equinix by 28.9% in the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider’s stock worth $307,000 after purchasing an additional 73 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of Equinix by 11.5% during the first quarter. Integrated Wealth Concepts LLC now owns 522 shares of the financial services provider’s stock valued at $425,000 after buying an additional 54 shares during the last quarter. Empowered Funds LLC grew its holdings in Equinix by 21.8% during the first quarter. Empowered Funds LLC now owns 3,050 shares of the financial services provider’s stock worth $2,487,000 after buying an additional 546 shares in the last quarter. Schnieders Capital Management LLC. bought a new position in Equinix during the 2nd quarter valued at $231,000. Finally, AE Wealth Management LLC grew its stake in shares of Equinix by 5.6% in the 2nd quarter. AE Wealth Management LLC now owns 262 shares of the financial services provider’s stock worth $208,000 after acquiring an additional 14 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

EQIX has been the topic of several recent analyst reports. BMO Capital Markets lifted their target price on shares of Equinix from $925.00 to $1,050.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Wells Fargo & Company upped their target price on Equinix from $925.00 to $975.00 and gave the company an “overweight” rating in a report on Thursday, February 12th. Citigroup reaffirmed a “buy” rating on shares of Equinix in a research report on Thursday, February 12th. Stifel Nicolaus set a $1,075.00 price target on Equinix in a report on Thursday, February 12th. Finally, Deutsche Bank Aktiengesellschaft set a $915.00 price objective on Equinix in a research note on Tuesday, January 6th. Three 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,006.91.

Equinix Trading Up 1.5%

NASDAQ:EQIX opened at $984.46 on Tuesday. 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 stock has a market capitalization of $96.73 billion, a PE ratio of 71.60, a price-to-earnings-growth ratio of 2.49 and a beta of 1.04. The firm’s 50 day moving average is $876.03 and its 200 day moving average is $815.44. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $992.90.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $8.91 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 firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the previous year, the company posted $7.92 EPS. Equinix’s revenue for the quarter was up 7.0% on a year-over-year basis. Sell-side analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, February 25th will be given a dividend of $5.16 per share. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $20.64 dividend on an annualized basis and a dividend yield of 2.1%. This is a boost from Equinix’s previous quarterly dividend of $4.69. Equinix’s payout ratio is currently 150.11%.

Insider Activity at Equinix

In other Equinix news, CEO Adaire Fox-Martin sold 2,670 shares of the company’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $804.08, for a total transaction of $2,146,893.60. Following the sale, the chief executive officer directly owned 14,857 shares of the company’s stock, valued at $11,946,216.56. This represents a 15.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Raouf Abdel sold 927 shares of the stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $801.78, for a total transaction of $743,250.06. Following the transaction, the executive vice president owned 7,337 shares of the company’s stock, valued at $5,882,659.86. This represents a 11.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 16,842 shares of company stock worth $14,494,840 in the last three months. Corporate insiders own 0.27% of the company’s stock.

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.