Waterfront Capital Partners LLC Has $12.83 Million Stake in Equinix Inc (EQIX)

Waterfront Capital Partners LLC cut its stake in shares of Equinix Inc (NASDAQ:EQIX) by 86.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 29,640 shares of the financial services provider’s stock after selling 191,163 shares during the period. Equinix comprises about 1.7% of Waterfront Capital Partners LLC’s holdings, making the stock its 23rd largest position. Waterfront Capital Partners LLC’s holdings in Equinix were worth $12,831,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Schwab Charles Investment Management Inc. increased its holdings in shares of Equinix by 4.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 290,350 shares of the financial services provider’s stock valued at $124,819,000 after acquiring an additional 13,357 shares in the last quarter. IFM Investors Pty Ltd boosted its position in shares of Equinix by 16.8% during the third quarter. IFM Investors Pty Ltd now owns 4,153 shares of the financial services provider’s stock valued at $1,798,000 after buying an additional 597 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Equinix by 3.6% during the second quarter. Wells Fargo & Company MN now owns 426,347 shares of the financial services provider’s stock valued at $183,283,000 after buying an additional 14,746 shares during the last quarter. Comerica Bank boosted its position in shares of Equinix by 2.1% during the second quarter. Comerica Bank now owns 41,070 shares of the financial services provider’s stock valued at $18,008,000 after buying an additional 842 shares during the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Equinix during the third quarter valued at $709,000. Hedge funds and other institutional investors own 98.54% of the company’s stock.

NASDAQ EQIX opened at $380.90 on Monday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.24 and a current ratio of 1.24. Equinix Inc has a 52 week low of $370.79 and a 52 week high of $481.48. The stock has a market capitalization of $30.58 billion, a PE ratio of 20.56, a P/E/G ratio of 1.27 and a beta of 0.74.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Thursday, November 1st. The financial services provider reported $1.55 EPS for the quarter, missing the consensus estimate of $4.47 by ($2.92). Equinix had a return on equity of 7.70% and a net margin of 6.46%. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the business earned $3.63 EPS. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities analysts predict that Equinix Inc will post 18.45 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 12th. Stockholders of record on Wednesday, November 14th will be paid a $2.28 dividend. This represents a $9.12 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Tuesday, November 13th. Equinix’s dividend payout ratio (DPR) is currently 49.22%.

In other news, insider Yau Tat Lee sold 2,792 shares of the firm’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $382.86, for a total value of $1,068,945.12. Following the transaction, the insider now owns 2,182 shares of the company’s stock, valued at $835,400.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Earl Campbell sold 1,316 shares of the firm’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $423.38, for a total value of $557,168.08. Following the completion of the transaction, the insider now directly owns 3,954 shares in the company, valued at approximately $1,674,044.52. The disclosure for this sale can be found here. 0.51% of the stock is owned by company insiders.

Several research analysts have issued reports on EQIX shares. MED dropped their target price on Equinix to $460.00 and set a “positive” rating on the stock in a research report on Thursday, November 1st. BidaskClub cut Equinix from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. KeyCorp started coverage on Equinix in a research report on Tuesday, October 23rd. They issued a “sector weight” rating on the stock. Credit Suisse Group set a $520.00 target price on Equinix and gave the stock a “buy” rating in a research report on Thursday, August 9th. Finally, ValuEngine raised Equinix from a “sell” rating to a “hold” rating in a research report on Wednesday, September 12th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and sixteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $501.28.

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About Equinix

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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