Vision Capital Corp Takes Position in Equinix, Inc. (NASDAQ:EQIX)

Vision Capital Corp acquired a new position in Equinix, Inc. (NASDAQ:EQIX - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 33,075 shares of the financial services provider's stock, valued at approximately $31,186,000. Equinix makes up approximately 5.0% of Vision Capital Corp's holdings, making the stock its 3rd biggest position.

A number of other institutional investors have also recently made changes to their positions in the stock. Principal Financial Group Inc. grew its holdings in shares of Equinix by 0.3% in the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider's stock valued at $1,681,256,000 after purchasing an additional 5,910 shares in the last quarter. Pine Valley Investments Ltd Liability Co boosted its stake in shares of Equinix by 49.0% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 1,593 shares of the financial services provider's stock valued at $1,414,000 after purchasing an additional 524 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Equinix in the third quarter valued at approximately $582,000. Cim Investment Management Inc. increased its stake in shares of Equinix by 31.4% during the third quarter. Cim Investment Management Inc. now owns 3,674 shares of the financial services provider's stock valued at $3,261,000 after buying an additional 879 shares during the period. Finally, Tidal Investments LLC grew its holdings in Equinix by 12.9% during the 3rd quarter. Tidal Investments LLC now owns 25,776 shares of the financial services provider's stock worth $22,880,000 after acquiring an additional 2,940 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.

Equinix Price Performance

EQIX traded up $20.91 on Friday, reaching $838.10. The company had a trading volume of 605,304 shares, compared to its average volume of 551,699. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03. The company has a market capitalization of $81.98 billion, a P/E ratio of 98.02, a PEG ratio of 1.78 and a beta of 0.95. The company has a fifty day moving average of $837.08 and a 200-day moving average of $895.26. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX - Get Free Report) last released its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. As a group, equities research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were given a $4.69 dividend. This is a positive change from Equinix's previous quarterly dividend of $4.26. The ex-dividend date was Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.24%. Equinix's dividend payout ratio (DPR) is currently 219.42%.

Insiders Place Their Bets

In other news, insider Kurt Pletcher sold 215 shares of Equinix stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $929.73, for a total value of $199,891.95. Following the completion of the sale, the insider now directly owns 1,245 shares of the company's stock, valued at approximately $1,157,513.85. This trade represents a 14.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brandi Galvin Morandi sold 684 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total transaction of $643,308.84. Following the completion of the transaction, the insider now owns 8,377 shares in the company, valued at $7,878,652.27. This represents a 7.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,040 shares of company stock valued at $6,547,068 in the last quarter. Insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

EQIX has been the topic of several research analyst reports. Truist Financial dropped their target price on Equinix from $1,028.00 to $990.00 and set a "buy" rating on the stock in a research note on Monday, March 10th. Mizuho lowered their price objective on Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating on the stock in a research report on Friday, March 28th. Barclays lifted their price target on Equinix from $822.00 to $834.00 and gave the company an "equal weight" rating in a research note on Thursday, March 20th. Cfra Research upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 28th. Finally, Citizens Jmp raised shares of Equinix to a "strong-buy" rating in a report on Monday, January 27th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $1,004.94.

Equinix Profile

Equinix Nasdaq: EQIX is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.