Spirit of America Management Corp NY Purchases 400 Shares of Equinix Inc (EQIX)

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Spirit of America Management Corp NY lifted its position in shares of Equinix Inc (NASDAQ:EQIX) by 6.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,225 shares of the financial services provider’s stock after purchasing an additional 400 shares during the period. Spirit of America Management Corp NY’s holdings in Equinix were worth $2,821,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EQIX. Prime Capital Investment Advisors LLC increased its stake in shares of Equinix by 4.9% in the 1st quarter. Prime Capital Investment Advisors LLC now owns 994 shares of the financial services provider’s stock valued at $451,000 after purchasing an additional 46 shares during the last quarter. Spectrum Management Group Inc. bought a new position in shares of Equinix in the 1st quarter valued at $29,000. Consolidated Investment Group LLC boosted its holdings in shares of Equinix by 54.8% during the 1st quarter. Consolidated Investment Group LLC now owns 6,500 shares of the financial services provider’s stock valued at $2,946,000 after acquiring an additional 2,300 shares in the last quarter. Retirement Systems of Alabama boosted its holdings in shares of Equinix by 5.8% during the 1st quarter. Retirement Systems of Alabama now owns 38,796 shares of the financial services provider’s stock valued at $17,581,000 after acquiring an additional 2,131 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its holdings in shares of Equinix by 4.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 4,400 shares of the financial services provider’s stock valued at $1,994,000 after acquiring an additional 200 shares in the last quarter. Institutional investors own 98.92% of the company’s stock.

In other news, CEO Charles J. Meyers sold 3,383 shares of Equinix stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $425.92, for a total value of $1,440,887.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Keith D. Taylor sold 1,723 shares of Equinix stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $426.39, for a total value of $734,669.97. The disclosure for this sale can be found here. Insiders have sold a total of 17,893 shares of company stock worth $7,665,409 over the last ninety days. Company insiders own 0.51% of the company’s stock.

EQIX traded down $5.16 during midday trading on Wednesday, hitting $447.50. 4,013 shares of the company were exchanged, compared to its average volume of 411,201. The company has a market capitalization of $36.40 billion, a PE ratio of 21.58, a PEG ratio of 1.62 and a beta of 0.91. Equinix Inc has a 1-year low of $335.29 and a 1-year high of $467.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.51.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, February 13th. The financial services provider reported $1.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.46 by ($3.10). The company had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.31 billion. Equinix had a return on equity of 6.88% and a net margin of 7.20%. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.82 earnings per share. Equities research analysts predict that Equinix Inc will post 20.89 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 27th were issued a dividend of $2.46 per share. The ex-dividend date of this dividend was Tuesday, February 26th. This is an increase from Equinix’s previous quarterly dividend of $2.28. This represents a $9.84 annualized dividend and a yield of 2.20%. Equinix’s payout ratio is presently 47.56%.

Several equities research analysts recently weighed in on the company. Zacks Investment Research downgraded Equinix from a “buy” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Co raised their price objective on Equinix from $475.00 to $500.00 and gave the company an “outperform” rating in a report on Wednesday, March 27th. Nomura raised their price objective on Equinix from $480.00 to $500.00 and gave the company a “buy” rating in a report on Friday, March 29th. BidaskClub raised Equinix from a “hold” rating to a “buy” rating in a report on Tuesday, December 18th. Finally, Citigroup raised their price objective on Equinix from $481.00 to $482.00 and gave the company a “buy” rating in a report on Friday, March 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have issued a buy rating to the company. Equinix has an average rating of “Buy” and an average target price of $495.29.

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Equinix Profile

Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.

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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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