Lasalle Investment Management Securities LLC Cuts Position in Equinix, Inc. $EQIX

Key Points

• Lasalle Investment Management Securities LLC trimmed its Equinix stake by 1.7% in the fourth quarter, but Equinix remains its largest holding and made up about 9.8% of its portfolio. The fund still owned 319,385 shares valued at roughly $244.7 million.
• Analysts remain broadly positive on Equinix, with a consensus rating of “Moderate Buy” and an average price target of $1,143.60. Several firms recently raised targets, though Zacks Research downgraded the stock to Hold.
• Equinix reported stronger-than-expected quarterly earnings, posting $10.79 EPS versus the $4.30 estimate, while revenue rose 9.8% year over year to $2.44 billion. The company also announced a quarterly dividend of $5.16 per share, payable June 17.

Lasalle Investment Management Securities LLC lessened its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 1.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 319,385 shares of the financial services provider's stock after selling 5,466 shares during the quarter. Equinix accounts for approximately 9.8% of Lasalle Investment Management Securities LLC's investment portfolio, making the stock its biggest holding. Lasalle Investment Management Securities LLC owned 0.33% of Equinix worth $244,700,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Ameriflex Group Inc. lifted its position in shares of Equinix by 433.3% in the third quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider's stock worth $25,000 after purchasing an additional 26 shares in the last quarter. Princeton Global Asset Management LLC increased its holdings in Equinix by 200.0% during the fourth quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider's stock worth $32,000 after buying an additional 28 shares during the last quarter. WPG Advisers LLC increased its holdings in Equinix by 51.7% during the fourth quarter. WPG Advisers LLC now owns 44 shares of the financial services provider's stock worth $34,000 after buying an additional 15 shares during the last quarter. Cornerstone Planning Group LLC increased its holdings in Equinix by 40.6% during the third quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider's stock worth $37,000 after buying an additional 13 shares during the last quarter. Finally, Activest Wealth Management increased its holdings in Equinix by 81.5% during the fourth quarter. Activest Wealth Management now owns 49 shares of the financial services provider's stock worth $38,000 after buying an additional 22 shares during the last quarter. Institutional investors own 94.94% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on EQIX. BMO Capital Markets boosted their target price on shares of Equinix from $925.00 to $1,050.00 and gave the stock an "outperform" rating in a report on Thursday, February 12th. Stifel Nicolaus set a $1,075.00 target price on shares of Equinix in a report on Thursday, February 12th. Zacks Research downgraded shares of Equinix from a "strong-buy" rating to a "hold" rating in a report on Friday, May 15th. JPMorgan Chase & Co. boosted their target price on shares of Equinix from $1,100.00 to $1,200.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Finally, Evercore restated an "outperform" rating and set a $1,240.00 target price on shares of Equinix in a report on Tuesday, April 28th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,143.60.

Insider Transactions at Equinix

In other Equinix news, Chairman Charles J. Meyers sold 5,224 shares of the company's stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $1,085.23, for a total value of $5,669,241.52. Following the transaction, the chairman directly owned 7,370 shares in the company, valued at $7,998,145.10. The trade was a 41.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Adaire Fox-Martin sold 1,086 shares of the company's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $966.20, for a total transaction of $1,049,293.20. Following the completion of the transaction, the chief executive officer owned 19,574 shares in the company, valued at approximately $18,912,398.80. This represents a 5.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 13,769 shares of company stock valued at $14,191,079. Corporate insiders own 0.27% of the company's stock.

Equinix Price Performance

NASDAQ:EQIX opened at $1,068.04 on Monday. Equinix, Inc. has a one year low of $710.52 and a one year high of $1,128.68. The company has a market cap of $105.33 billion, a P/E ratio of 73.91, a P/E/G ratio of 2.01 and a beta of 0.99. The firm's fifty day moving average price is $1,047.60 and its two-hundred day moving average price is $904.78. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.18 and a quick ratio of 1.18.

Equinix (NASDAQ:EQIX - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $10.79 EPS for the quarter, beating the consensus estimate of $4.30 by $6.49. Equinix had a net margin of 15.07% and a return on equity of 10.03%. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the company earned $9.67 earnings per share. The company's quarterly revenue was up 9.8% on a year-over-year basis. Equinix has set its FY 2026 guidance at 42.310-43.110 EPS. Equities analysts expect that Equinix, Inc. will post 37.72 earnings per share for the current year.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, May 20th will be issued a $5.16 dividend. This represents a $20.64 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Wednesday, May 20th. Equinix's payout ratio is currently 142.84%.

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.

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