Davidson Investment Advisors decreased its holdings in Equinix, Inc. (REIT) (NASDAQ:EQIX) by 4.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 714 shares of the financial services provider’s stock after selling 35 shares during the period. Davidson Investment Advisors’ holdings in Equinix were worth $573,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC bought a new position in shares of Equinix in the second quarter worth about $31,000. CoreFirst Bank & Trust bought a new position in shares of Equinix in the first quarter worth about $34,000. Grandview Asset Management LLC bought a new position in shares of Equinix in the first quarter worth about $39,000. Eagle Bay Advisors LLC bought a new position in shares of Equinix in the second quarter worth about $47,000. Finally, Thomas J. Herzfeld Advisors Inc. boosted its stake in shares of Equinix by 1,440.0% in the first quarter. Thomas J. Herzfeld Advisors Inc. now owns 77 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 72 shares during the period. 93.80% of the stock is owned by hedge funds and other institutional investors.
In other news, Chairman Camp Peter Van sold 1,456 shares of the firm’s stock in a transaction on Thursday, August 5th. The stock was sold at an average price of $828.52, for a total value of $1,206,325.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher B. Paisley sold 200 shares of the firm’s stock in a transaction on Monday, August 16th. The stock was sold at an average price of $814.70, for a total value of $162,940.00. The disclosure for this sale can be found here. Insiders have sold a total of 21,355 shares of company stock worth $18,116,589 in the last ninety days. Insiders own 13.20% of the company’s stock.
Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, July 28th. The financial services provider reported $0.76 EPS for the quarter, missing the consensus estimate of $6.03 by ($5.27). Equinix had a return on equity of 5.21% and a net margin of 5.40%. As a group, equities analysts anticipate that Equinix, Inc. will post 24.36 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 22nd. Shareholders of record on Wednesday, August 18th will be given a dividend of $2.87 per share. The ex-dividend date of this dividend is Tuesday, August 17th. This represents a $11.48 annualized dividend and a yield of 1.38%. Equinix’s dividend payout ratio (DPR) is presently 46.37%.
A number of equities analysts recently commented on the company. Wells Fargo & Company increased their price target on Equinix from $875.00 to $915.00 and gave the company an “overweight” rating in a research note on Thursday, July 29th. Truist Securities increased their price target on Equinix from $900.00 to $925.00 and gave the company a “buy” rating in a research note on Thursday, July 29th. Barclays dropped their price target on Equinix from $880.00 to $879.00 and set an “overweight” rating for the company in a research note on Wednesday, August 25th. Royal Bank of Canada raised their price objective on Equinix from $830.00 to $885.00 and gave the company an “outperform” rating in a research note on Monday, August 9th. Finally, Truist raised their price objective on Equinix from $900.00 to $925.00 and gave the company a “buy” rating in a research note on Thursday, July 29th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Equinix presently has an average rating of “Buy” and a consensus target price of $880.94.
Equinix Company Profile
Equinix, Inc engages in the provision of collocation space and develops data centre solutions. The firm offers secure key management, consulting, network virtualization, customer support, and managed services. It operates through the following geographical segments: Americas, Europe, Middle East & Africa and Asia-Pacific.
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