Resolution Capital Ltd Cuts Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Resolution Capital Ltd lowered its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 5.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 639,232 shares of the financial services provider's stock after selling 39,037 shares during the period. Equinix makes up approximately 10.8% of Resolution Capital Ltd's portfolio, making the stock its 2nd biggest holding. Resolution Capital Ltd owned about 0.66% of Equinix worth $602,725,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Kestra Investment Management LLC acquired a new position in shares of Equinix in the fourth quarter valued at approximately $31,000. J.Safra Asset Management Corp acquired a new stake in shares of Equinix during the fourth quarter worth $39,000. Sierra Ocean LLC purchased a new stake in shares of Equinix in the fourth quarter valued at $42,000. Thompson Investment Management Inc. acquired a new position in Equinix in the fourth quarter valued at $47,000. Finally, Cary Street Partners Financial LLC purchased a new position in Equinix during the fourth quarter worth about $52,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Stock Down 0.6%

NASDAQ:EQIX traded down $5.56 during mid-day trading on Tuesday, reaching $872.01. The company's stock had a trading volume of 111,347 shares, compared to its average volume of 617,928. 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, Inc. has a 1 year low of $701.41 and a 1 year high of $994.03. The stock has a fifty day moving average of $825.91 and a 200-day moving average of $892.56. The firm has a market capitalization of $85.30 billion, a PE ratio of 101.99, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.01 by $0.66. Equinix had a return on equity of 6.31% and a net margin of 9.32%. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same period in the prior year, the company posted $8.86 EPS. The firm's quarterly revenue was up 4.1% compared to the same quarter last year. Equities research analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be given a $4.69 dividend. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.15%. Equinix's dividend payout ratio (DPR) is presently 195.01%.

Insider Transactions at Equinix

In other news, Director Christopher B. Paisley sold 100 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $869.41, for a total value of $86,941.00. Following the completion of the sale, the director now directly owns 17,569 shares of the company's stock, valued at approximately $15,274,664.29. The trade was a 0.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Keith D. Taylor sold 2,454 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $929.34, for a total value of $2,280,600.36. Following the completion of the sale, the chief financial officer now directly owns 24,402 shares of the company's stock, valued at $22,677,754.68. This represents a 9.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,927 shares of company stock worth $6,431,559 in the last quarter. Company insiders own 0.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on EQIX shares. BMO Capital Markets reduced their price target on shares of Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Bank of America began coverage on shares of Equinix in a report on Monday. They set a "buy" rating and a $1,000.00 price target for the company. BNP Paribas raised Equinix to a "strong-buy" rating in a research note on Thursday, May 1st. Mizuho reduced their target price on Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating for the company in a report on Friday, March 28th. Finally, Truist Financial lowered their price objective on Equinix from $990.00 to $986.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Two analysts have rated the stock with a hold rating, twenty have given a buy rating and six have issued a strong buy rating to the stock. According to data from MarketBeat, Equinix presently has a consensus rating of "Buy" and a consensus price target of $1,004.65.

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.