Centersquare Investment Management LLC Acquires 31,797 Shares of Equinix, Inc. (NASDAQ:EQIX)

Key Points

• Centersquare Investment Management LLC increased its stake in Equinix, Inc. by 3.7% during the 1st quarter, making it the firm's 3rd largest position with approximately $722 million in value.
• The company reported an EPS of $9.91, surpassing the consensus estimate by $6.42, with revenue remaining steady at $2.26 billion for the quarter.
• Equinix announced a quarterly dividend of $4.69 per share, representing an annualized yield of 2.4%, with a payout ratio of 183.74%.

Centersquare Investment Management LLC lifted its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 3.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 885,983 shares of the financial services provider's stock after acquiring an additional 31,797 shares during the period. Equinix accounts for approximately 7.5% of Centersquare Investment Management LLC's holdings, making the stock its 3rd biggest holding. Centersquare Investment Management LLC owned 0.91% of Equinix worth $722,386,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. purchased a new stake in shares of Equinix in the fourth quarter worth approximately $28,000. Pacific Center for Financial Services grew its position in 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 acquiring an additional 15 shares during the last quarter. Whipplewood Advisors LLC increased its stake in Equinix by 127.8% in the first quarter. Whipplewood Advisors LLC now owns 41 shares of the financial services provider's stock worth $33,000 after purchasing an additional 23 shares during the period. Cornerstone Planning Group LLC boosted its stake in shares of Equinix by 40.0% during the first quarter. Cornerstone Planning Group LLC now owns 42 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 12 shares during the period. Finally, Park Square Financial Group LLC bought a new position in shares of Equinix in the fourth quarter worth about $49,000. Hedge funds and other institutional investors own 94.94% of the company's stock.

Insider Activity at Equinix

In other Equinix news, Director Christopher B. Paisley sold 100 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following the sale, the director owned 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 available at this link. Also, CEO Adaire Fox-Martin sold 2,949 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the completion of the transaction, the chief executive officer directly owned 9,615 shares of the company's stock, valued at approximately $8,508,409.65. This represents a 23.47% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.27% of the company's stock.

Equinix Stock Up 0.8%

Shares of EQIX stock traded up $6.34 during trading hours on Thursday, reaching $779.34. 324,947 shares of the company's stock were exchanged, compared to its average volume of 561,025. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03. The stock's 50 day moving average is $823.23 and its 200-day moving average is $849.99. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.29. The company has a market cap of $76.27 billion, a price-to-earnings ratio of 76.33, a P/E/G ratio of 1.25 and a beta of 0.90.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its earnings results on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share for the quarter, topping the consensus estimate of $3.49 by $6.42. Equinix had a return on equity of 7.22% and a net margin of 11.11%. The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the previous year, the business earned $9.22 EPS. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. Analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors 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 presently 183.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on EQIX shares. TD Securities lifted their price objective on shares of Equinix from $978.00 to $1,018.00 and gave the company a "buy" rating in a report on Thursday, May 1st. JMP Securities reiterated a "market outperform" rating and issued a $1,200.00 price target on shares of Equinix in a report on Tuesday, July 22nd. BNP Paribas raised Equinix to a "strong-buy" rating in a research note on Thursday, May 1st. New Street Research raised Equinix to a "strong-buy" rating in a research report on Monday, April 28th. Finally, Guggenheim initiated coverage on Equinix in a research report on Thursday, July 10th. They set a "buy" rating and a $933.00 price target on the stock. Five analysts have rated the stock with a hold rating, twenty have assigned a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Equinix has a consensus rating of "Buy" and an average price target of $959.86.

About Equinix

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.