Equinix, Inc. $EQIX Shares Purchased by Centersquare Investment Management LLC

Key Points

• Centersquare Investment Management increased its Equinix stake by 0.8% in the fourth quarter, holding 893,230 shares worth about $684.4 million. Equinix is Centersquare’s third-largest position and makes up 6.8% of its portfolio.
• Wall Street remains bullish on Equinix, with several firms raising or reaffirming positive ratings and price targets, including targets as high as $1,250. The stock currently has a consensus “Moderate Buy” rating and an average target price of $1,143.60.
• Equinix posted strong quarterly results and a dividend, reporting EPS of $10.79 versus $4.30 expected and revenue growth of 9.8% year over year. The company also announced a $5.16 quarterly dividend, payable June 17, implying a 2.0% annualized yield.

Centersquare Investment Management LLC raised its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 0.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 893,230 shares of the financial services provider's stock after acquiring an additional 7,270 shares during the period. Equinix makes up about 6.8% of Centersquare Investment Management LLC's holdings, making the stock its 3rd largest position. Centersquare Investment Management LLC owned 0.91% of Equinix worth $684,357,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in EQIX. Brighton Jones LLC grew its stake in Equinix by 28.9% in the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider's stock valued at $307,000 after acquiring an additional 73 shares during the period. Integrated Wealth Concepts LLC grew its stake in Equinix by 11.5% in the first quarter. Integrated Wealth Concepts LLC now owns 522 shares of the financial services provider's stock valued at $425,000 after acquiring an additional 54 shares during the period. Empowered Funds LLC boosted its position in shares of Equinix by 21.8% during the first quarter. Empowered Funds LLC now owns 3,050 shares of the financial services provider's stock valued at $2,487,000 after buying an additional 546 shares during the last quarter. Schnieders Capital Management LLC. purchased a new position in shares of Equinix during the second quarter valued at approximately $231,000. Finally, Brown Advisory Inc. boosted its position in shares of Equinix by 2.8% during the second quarter. Brown Advisory Inc. now owns 1,074 shares of the financial services provider's stock valued at $854,000 after buying an additional 29 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on EQIX shares. Evercore reaffirmed an "outperform" rating and set a $1,240.00 target price on shares of Equinix in a research report on Tuesday, April 28th. Guggenheim reaffirmed a "buy" rating and set a $1,235.00 target price on shares of Equinix in a research report on Wednesday, May 20th. Jefferies Financial Group lifted their target price on Equinix from $950.00 to $1,000.00 and gave the company a "buy" rating in a research report on Thursday, February 12th. Raymond James Financial raised Equinix from a "market perform" rating to a "strong-buy" rating and set a $1,250.00 target price on the stock in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. lifted their target price on Equinix from $1,100.00 to $1,200.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Three research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Equinix currently has a consensus rating of "Moderate Buy" and an average target price of $1,143.60.

Insiders Place Their Bets

In related news, Director Christopher B. Paisley sold 125 shares of Equinix stock in a transaction on Monday, May 18th. The stock was sold at an average price of $1,060.29, for a total transaction of $132,536.25. Following the sale, the director directly owned 17,557 shares in the company, valued at approximately $18,615,511.53. This trade represents a 0.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Brandi Galvin Morandi sold 3,726 shares of Equinix stock in a transaction on Monday, June 8th. The stock was sold at an average price of $1,076.36, for a total value of $4,010,517.36. Following the sale, the insider owned 6,132 shares in the company, valued at $6,600,239.52. This trade represents a 37.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 11,539 shares of company stock valued at $12,455,054. 0.27% of the stock is owned by insiders.

Equinix Stock Performance

Shares of Equinix stock opened at $1,043.18 on Friday. The business's fifty day simple moving average is $1,065.03 and its 200 day simple moving average is $922.66. The firm has a market capitalization of $102.88 billion, a P/E ratio of 72.19, a price-to-earnings-growth ratio of 1.95 and a beta of 0.99. Equinix, Inc. has a 12 month low of $710.52 and a 12 month high of $1,128.68. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.39.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $10.79 EPS for the quarter, topping analysts' consensus estimates of $4.30 by $6.49. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.52 billion. Equinix had a return on equity of 10.03% and a net margin of 15.07%.Equinix's quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company posted $9.67 earnings per share. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. As a group, analysts anticipate that Equinix, Inc. will post 37.72 EPS for the current year.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, May 20th will be issued a dividend of $5.16 per share. This represents a $20.64 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, May 20th. Equinix's dividend payout ratio (DPR) is 142.84%.

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.

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