Equinix, Inc. (NASDAQ:EQIX) is American Assets Capital Advisers LLC's 3rd Largest Position

American Assets Capital Advisers LLC cut its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 16.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,513 shares of the financial services provider's stock after selling 4,720 shares during the period. Equinix accounts for 7.7% of American Assets Capital Advisers LLC's investment portfolio, making the stock its 3rd largest holding. American Assets Capital Advisers LLC's holdings in Equinix were worth $23,113,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Kestra Investment Management LLC purchased a new stake in Equinix during the fourth quarter worth approximately $31,000. J.Safra Asset Management Corp acquired a new stake in Equinix during the fourth quarter worth approximately $39,000. Sierra Ocean LLC purchased a new stake in shares of Equinix during the 4th quarter worth approximately $42,000. Dunhill Financial LLC boosted its holdings in shares of Equinix by 108.7% in the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider's stock valued at $43,000 after buying an additional 25 shares in the last quarter. Finally, Thompson Investment Management Inc. purchased a new position in shares of Equinix in the 4th quarter valued at $47,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Equinix news, EVP Raouf Abdel sold 1,331 shares of the business's stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the sale, the executive vice president now directly owns 6,579 shares in the company, valued at approximately $5,945,508.09. The trade was a 16.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adaire Fox-Martin sold 1,370 shares of the company's stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $909.51, for a total value of $1,246,028.70. Following the completion of the sale, the chief executive officer now directly owns 4,329 shares in the company, valued at $3,937,268.79. This trade represents a 24.04 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,054 shares of company stock worth $17,466,950. 0.27% of the stock is owned by company insiders.

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Analysts Set New Price Targets

Several equities analysts have issued reports on EQIX shares. Royal Bank of Canada upped their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the company an "outperform" rating in a research note on Wednesday, December 11th. JMP Securities restated a "market outperform" rating and set a $1,200.00 price target on shares of Equinix in a research note on Thursday, February 13th. BMO Capital Markets cut their price target on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Oppenheimer raised their target price on shares of Equinix from $950.00 to $975.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Finally, Stifel Nicolaus upped their price target on shares of Equinix from $995.00 to $1,080.00 and gave the company a "buy" rating in a research report on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $990.06.

Equinix Stock Performance

Shares of EQIX stock traded down $3.61 during trading hours on Thursday, reaching $851.72. 532,758 shares of the company's stock were exchanged, compared to its average volume of 529,094. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The company's 50 day moving average is $906.85 and its two-hundred day moving average is $908.67. The company has a market cap of $82.90 billion, a P/E ratio of 99.62, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03.

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

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were issued a dividend of $4.69 per share. The ex-dividend date was Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a yield of 2.20%. This is an increase from Equinix's previous quarterly dividend of $4.26. Equinix's payout ratio is currently 219.42%.

Equinix Company 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.