RMR Advisors LLC purchased a new stake in shares of Equinix Inc (NASDAQ:EQIX) in the first quarter, HoldingsChannel reports. The institutional investor purchased 1,000 shares of the financial services provider’s stock, valued at approximately $453,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Country Trust Bank purchased a new stake in shares of Equinix in the 1st quarter worth approximately $26,883,000. Spirit of America Management Corp NY grew its stake in shares of Equinix by 6.9% in the 1st quarter. Spirit of America Management Corp NY now owns 6,225 shares of the financial services provider’s stock worth $2,821,000 after buying an additional 400 shares during the last quarter. Prime Capital Investment Advisors LLC grew 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 worth $451,000 after buying an additional 46 shares during the last quarter. Spectrum Management Group Inc. purchased a new stake in shares of Equinix in the 1st quarter worth approximately $29,000. Finally, Consolidated Investment Group LLC grew its stake in shares of Equinix by 54.8% in the 1st quarter. Consolidated Investment Group LLC now owns 6,500 shares of the financial services provider’s stock worth $2,946,000 after buying an additional 2,300 shares during the last quarter. 98.92% of the stock is owned by institutional investors and hedge funds.
Several analysts recently weighed in on EQIX shares. BidaskClub upgraded Equinix from a “hold” rating to a “buy” rating in a research note on Tuesday, December 18th. Zacks Investment Research downgraded Equinix from a “hold” rating to a “sell” rating in a research note on Monday, January 7th. Berenberg Bank started coverage on Equinix in a research note on Tuesday, January 8th. They issued a “buy” rating and a $477.00 price target on the stock. Credit Suisse Group upped their price target on Equinix from $467.00 to $474.00 and gave the stock an “outperform” rating in a research note on Thursday, February 14th. Finally, Citigroup upped their price objective on Equinix from $481.00 to $482.00 and gave the company a “buy” rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Equinix presently has an average rating of “Buy” and a consensus price target of $495.29.
Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, February 13th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.46 by ($3.10). The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.31 billion. Equinix had a net margin of 7.20% and a return on equity of 6.88%. The business’s revenue was up 9.2% compared to the same quarter last year. During the same period last year, the company posted $0.82 earnings per share. On average, research analysts predict that Equinix Inc will post 20.89 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 27th were given a $2.46 dividend. The ex-dividend date of this dividend was Tuesday, February 26th. This is a boost from Equinix’s previous quarterly dividend of $2.28. This represents a $9.84 annualized dividend and a yield of 2.20%. Equinix’s dividend payout ratio is 47.56%.
In other news, insider Michael Earl Campbell sold 250 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $445.02, for a total transaction of $111,255.00. Following the transaction, the insider now directly owns 3,828 shares of the company’s stock, valued at approximately $1,703,536.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles J. Meyers sold 282 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $462.31, for a total value of $130,371.42. Following the transaction, the chief executive officer now directly owns 5,882 shares in the company, valued at $2,719,307.42. 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 three months. Insiders own 0.51% of the company’s stock.
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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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