Green Street Investors LLC lowered its holdings in Equinix Inc (NASDAQ:EQIX) by 3.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 24,400 shares of the financial services provider’s stock after selling 900 shares during the quarter. Equinix accounts for about 8.3% of Green Street Investors LLC’s holdings, making the stock its 3rd biggest position. Green Street Investors LLC’s holdings in Equinix were worth $14,074,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. raised its stake in shares of Equinix by 1,250.0% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 270 shares of the financial services provider’s stock worth $156,000 after purchasing an additional 250 shares during the period. Brasada Capital Management LP raised its stake in shares of Equinix by 43.2% during the 3rd quarter. Brasada Capital Management LP now owns 3,207 shares of the financial services provider’s stock worth $1,850,000 after purchasing an additional 967 shares during the period. First Trust Advisors LP raised its stake in shares of Equinix by 89.4% during the 3rd quarter. First Trust Advisors LP now owns 69,680 shares of the financial services provider’s stock worth $40,191,000 after purchasing an additional 32,888 shares during the period. Appleton Partners Inc. MA raised its stake in shares of Equinix by 44.0% during the 3rd quarter. Appleton Partners Inc. MA now owns 1,358 shares of the financial services provider’s stock worth $783,000 after purchasing an additional 415 shares during the period. Finally, Huntington National Bank raised its stake in shares of Equinix by 0.5% during the 3rd quarter. Huntington National Bank now owns 17,412 shares of the financial services provider’s stock worth $10,044,000 after purchasing an additional 91 shares during the period. 98.59% of the stock is owned by institutional investors and hedge funds.
Equinix stock traded up $7.81 during midday trading on Friday, reaching $530.31. The stock had a trading volume of 506,700 shares, compared to its average volume of 445,454. The company has a quick ratio of 1.59, a current ratio of 1.55 and a debt-to-equity ratio of 1.33. Equinix Inc has a 12 month low of $335.29 and a 12 month high of $609.97. The firm’s 50-day moving average price is $567.25 and its 200 day moving average price is $525.12. The firm has a market capitalization of $42.63 billion, a PE ratio of 25.63, a P/E/G ratio of 1.91 and a beta of 0.69.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Wednesday, November 20th will be issued a dividend of $2.46 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $9.84 dividend on an annualized basis and a dividend yield of 1.86%. Equinix’s dividend payout ratio is presently 47.56%.
A number of equities research analysts have recently commented on EQIX shares. UBS Group lifted their target price on Equinix from $560.00 to $630.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Morgan Stanley lifted their target price on Equinix from $435.00 to $510.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 19th. ValuEngine cut Equinix from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. BMO Capital Markets lifted their target price on Equinix to $610.00 and gave the stock a “positive” rating in a research note on Thursday, October 31st. Finally, FBN Securities lifted their target price on Equinix from $550.00 to $625.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Equinix currently has an average rating of “Buy” and an average target price of $567.90.
In related news, insider Brandi Galvin Morandi sold 589 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $560.67, for a total transaction of $330,234.63. Following the completion of the transaction, the insider now owns 15,904 shares in the company, valued at $8,916,895.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Christopher B. Paisley sold 200 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $551.24, for a total value of $110,248.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,462 shares of company stock valued at $3,041,825. 0.49% of the stock is owned by corporate insiders.
Equinix Company 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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