Vert Asset Management LLC Has $22.74 Million Stock Position in Equinix, Inc. $EQIX

Key Points

• Vert Asset Management boosted its stake in Equinix by 9% in Q4 to 29,684 shares valued at $22.74 million, making EQIX the firm's largest holding at 7.6% of its portfolio.
• Equinix missed quarterly estimates (EPS $8.91 vs. $9.07 est.; revenue $2.42B vs. $2.46B est.) though revenue rose 7% year-over-year, and the company raised its quarterly dividend to $5.16 ($20.64 annualized, ~1.9% yield).
• The stock trades at a high valuation (market cap ~$107.4B, P/E ~79), carries a consensus "Moderate Buy" rating with an average target of ~$1,046.57 (several firms raised targets, Morgan Stanley $1,250), while insiders sold roughly 6,380 shares last quarter and institutional ownership is ~94.94%.

Vert Asset Management LLC lifted its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 9.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,684 shares of the financial services provider's stock after acquiring an additional 2,440 shares during the quarter. Equinix accounts for 7.6% of Vert Asset Management LLC's portfolio, making the stock its largest holding. Vert Asset Management LLC's holdings in Equinix were worth $22,743,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of EQIX. Ameriflex Group Inc. boosted its stake in shares of Equinix by 433.3% during the 3rd quarter. Ameriflex Group Inc. now owns 32 shares of the financial services provider's stock worth $25,000 after acquiring an additional 26 shares in the last quarter. Abound Wealth Management boosted its stake in shares of Equinix by 209.1% during the 3rd quarter. Abound Wealth Management now owns 34 shares of the financial services provider's stock worth $27,000 after acquiring an additional 23 shares in the last quarter. Princeton Global Asset Management LLC boosted its stake in shares of Equinix by 200.0% during the 4th quarter. Princeton Global Asset Management LLC now owns 42 shares of the financial services provider's stock worth $32,000 after acquiring an additional 28 shares in the last quarter. Salomon & Ludwin LLC bought a new stake in shares of Equinix during the 3rd quarter worth $37,000. Finally, Cornerstone Planning Group LLC boosted its stake in shares of Equinix by 40.6% during the 3rd quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider's stock worth $37,000 after acquiring an additional 13 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Equinix Price Performance

EQIX opened at $1,088.62 on Monday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.40. Equinix, Inc. has a 12-month low of $710.52 and a 12-month high of $1,093.03. The stock has a fifty day moving average of $972.62 and a 200-day moving average of $852.69. The firm has a market capitalization of $107.36 billion, a P/E ratio of 79.17, a PEG ratio of 2.77 and a beta of 1.01.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.07 by ($0.16). Equinix had a return on equity of 9.60% and a net margin of 14.65%.The firm had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.46 billion. During the same quarter in the prior year, the business posted $7.92 earnings per share. Equinix's revenue was up 7.0% on a year-over-year basis. Equities analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th were issued a dividend of $5.16 per share. This is a positive change from Equinix's previous quarterly dividend of $4.69. This represents a $20.64 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Wednesday, February 25th. Equinix's dividend payout ratio is 150.11%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on EQIX shares. Sanford C. Bernstein started coverage on Equinix in a research note on Thursday, March 5th. They set an "outperform" rating and a $1,128.00 price objective for the company. The Goldman Sachs Group increased their target price on Equinix from $785.00 to $894.00 and gave the company a "neutral" rating in a report on Thursday, February 12th. Morgan Stanley increased their target price on Equinix from $1,075.00 to $1,250.00 and gave the company an "overweight" rating in a report on Monday, April 13th. Barclays increased their target price on Equinix from $1,020.00 to $1,109.00 and gave the company an "equal weight" rating in a report on Thursday. Finally, UBS Group increased their target price on Equinix from $950.00 to $1,010.00 and gave the company a "buy" rating in a report on Thursday, February 12th. Five investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $1,046.57.

Insider Buying and Selling at Equinix

In related news, EVP Raouf Abdel sold 584 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $965.69, for a total transaction of $563,962.96. Following the completion of the sale, the executive vice president directly owned 7,768 shares in the company, valued at approximately $7,501,479.92. This trade represents a 6.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jonathan Lin sold 635 shares of the stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $965.71, for a total value of $613,225.85. Following the sale, the insider owned 10,788 shares of the company's stock, valued at approximately $10,418,079.48. This represents a 5.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 6,380 shares of company stock valued at $6,179,022 in the last quarter. Corporate insiders own 0.27% of the company's stock.

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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