GRS Advisors LLC Has $40.17 Million Stake in Equinix, Inc. (NASDAQ:EQIX)

GRS Advisors LLC trimmed its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 32.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,598 shares of the financial services provider's stock after selling 20,526 shares during the quarter. Equinix accounts for about 4.0% of GRS Advisors LLC's holdings, making the stock its 11th largest position. GRS Advisors LLC's holdings in Equinix were worth $40,165,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of EQIX. JPMorgan Chase & Co. increased its position in Equinix by 17.9% in the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider's stock worth $1,188,180,000 after buying an additional 203,656 shares during the last quarter. CWA Asset Management Group LLC bought a new position in shares of Equinix in the fourth quarter worth $219,000. Diversified Trust Co boosted its holdings in shares of Equinix by 3.3% in the fourth quarter. Diversified Trust Co now owns 667 shares of the financial services provider's stock worth $629,000 after acquiring an additional 21 shares during the period. Fulton Bank N.A. boosted its holdings in shares of Equinix by 134.5% in the fourth quarter. Fulton Bank N.A. now owns 605 shares of the financial services provider's stock worth $570,000 after acquiring an additional 347 shares during the period. Finally, CCM Investment Advisers LLC boosted its holdings in shares of Equinix by 5.4% in the fourth quarter. CCM Investment Advisers LLC now owns 11,513 shares of the financial services provider's stock worth $10,856,000 after acquiring an additional 592 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Scotiabank dropped their price objective on Equinix from $1,040.00 to $1,030.00 and set a "sector outperform" rating for the company in a research note on Tuesday, April 22nd. Oppenheimer lifted their price target on Equinix from $950.00 to $975.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. TD Securities lifted their price objective on Equinix from $978.00 to $1,018.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Mizuho reduced their price target on Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating on the stock in a report on Friday, March 28th. Finally, BMO Capital Markets reduced their target price on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and six have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $1,004.89.

Insider Activity

In other Equinix news, insider Kurt Pletcher sold 215 shares of Equinix stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $929.73, for a total value of $199,891.95. Following the transaction, the insider now owns 1,245 shares in the company, valued at approximately $1,157,513.85. The trade was a 14.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Charles J. Meyers sold 3,562 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $929.04, for a total transaction of $3,309,240.48. Following the completion of the transaction, the chairman now directly owns 15,513 shares of the company's stock, valued at $14,412,197.52. This represents a 18.67% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,167 shares of company stock valued at $6,658,536. Insiders own 0.27% of the company's stock.

Equinix Stock Up 0.7%

NASDAQ EQIX traded up $6.44 during trading hours on Thursday, hitting $865.65. The company had a trading volume of 42,618 shares, compared to its average volume of 525,784. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The firm's 50 day moving average is $823.93 and its 200 day moving average is $893.38. The company has a market capitalization of $84.68 billion, a price-to-earnings ratio of 101.09, a P/E/G ratio of 1.78 and a beta of 0.97. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, topping the consensus estimate of $9.01 by $0.66. Equinix had a net margin of 9.32% and a return on equity of 6.31%. The business had revenue of $2.23 billion for the quarter, compared to analysts' expectations of $2.23 billion. During the same quarter last year, the company posted $8.86 earnings per share. The company's quarterly revenue was up 4.1% compared to the same quarter last year. Sell-side analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st will be issued a dividend of $4.69 per share. The ex-dividend date of this dividend is Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.17%. Equinix's dividend payout ratio (DPR) is presently 195.01%.

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.