Equinix, Inc. (NASDAQ:EQIX) Holdings Boosted by American Assets Investment Management LLC

Key Points

• American Assets Investment Management LLC increased its holdings in Equinix by 1,641.1%, owning 17,359 shares valued at approximately $14.15 million, making it the firm's 5th largest position.
• A number of hedge funds, including Truist Financial Corp and Nisa Investment Advisors LLC, also significantly boosted their stakes in Equinix during the first quarter.
• Equinix declared a quarterly dividend of $4.69 per share, representing an annualized yield of 2.35%, despite a high dividend payout ratio of 195.01%.

American Assets Investment Management LLC increased its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 1,641.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,359 shares of the financial services provider's stock after purchasing an additional 16,362 shares during the quarter. Equinix makes up approximately 5.9% of American Assets Investment Management LLC's portfolio, making the stock its 5th largest position. American Assets Investment Management LLC's holdings in Equinix were worth $14,154,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in EQIX. Pinney & Scofield Inc. acquired a new position in Equinix in the fourth quarter valued at about $28,000. Pacific Center for Financial Services grew its position in shares of Equinix by 65.2% in the 4th quarter. Pacific Center for Financial Services now owns 38 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 15 shares during the period. Whipplewood Advisors LLC raised its position in Equinix by 127.8% in the 1st quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider's stock valued at $33,000 after buying an additional 23 shares during the last quarter. Cornerstone Planning Group LLC increased its stake in Equinix by 40.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider's stock valued at $34,000 after buying an additional 12 shares during the last quarter. Finally, Park Square Financial Group LLC bought a new position in shares of Equinix in the fourth quarter valued at $49,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Insider Transactions at Equinix

In other news, insider Kurt Pletcher sold 127 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total value of $111,467.90. Following the completion of the sale, the insider directly owned 1,842 shares of the company's stock, valued at approximately $1,616,723.40. This trade represents a 6.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Adaire Fox-Martin sold 2,949 shares of Equinix stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the transaction, the chief executive officer directly owned 9,615 shares of the company's stock, valued at approximately $8,508,409.65. This trade represents a 23.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,176 shares of company stock valued at $2,808,008. Company insiders own 0.27% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Scotiabank reduced their price objective on Equinix from $1,030.00 to $965.00 and set a "sector outperform" rating for the company in a report on Thursday, June 26th. Truist Financial dropped their target price on shares of Equinix from $986.00 to $904.00 and set a "buy" rating on the stock in a report on Tuesday, July 1st. Cowen reaffirmed a "buy" rating on shares of Equinix in a research note on Thursday, July 3rd. Guggenheim started coverage on shares of Equinix in a research report on Thursday, July 10th. They set a "buy" rating and a $933.00 target price for the company. Finally, New Street Research raised Equinix to a "strong-buy" rating in a report on Monday, April 28th. Four equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $957.27.

Equinix Price Performance

Shares of NASDAQ:EQIX traded down $13.42 during trading on Friday, reaching $771.75. The company had a trading volume of 500,622 shares, compared to its average volume of 565,603. The company has a current ratio of 1.54, a quick ratio of 1.65 and a debt-to-equity ratio of 1.29. Equinix, Inc. has a 12 month low of $701.41 and a 12 month high of $994.03. The company has a fifty day moving average of $831.20 and a two-hundred day moving average of $853.72. The stock has a market capitalization of $75.49 billion, a P/E ratio of 75.59, a price-to-earnings-growth ratio of 1.45 and a beta of 0.90.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share for the quarter, beating the consensus estimate of $3.49 by $6.42. The business had revenue of $2.26 billion during the quarter, compared to analysts' expectations of $2.26 billion. Equinix had a net margin of 11.11% and a return on equity of 7.22%. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $9.22 EPS. Equities research analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 20th will be given a $4.69 dividend. This represents a $18.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, August 20th. 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.