American Assets Investment Management LLC Decreases Stake in Equinix, Inc. (NASDAQ:EQIX)

American Assets Investment Management LLC lowered its stake in Equinix, Inc. (NASDAQ:EQIX) by 30.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 997 shares of the financial services provider’s stock after selling 442 shares during the period. American Assets Investment Management LLC’s holdings in Equinix were worth $940,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kestra Investment Management LLC purchased a new position in shares of Equinix in the fourth quarter worth $31,000. J.Safra Asset Management Corp acquired a new stake in shares of Equinix in the fourth quarter worth $39,000. Sierra Ocean LLC acquired a new stake in shares of Equinix in the fourth quarter worth $42,000. Dunhill Financial LLC increased its stake in shares of Equinix by 108.7% in the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 25 shares during the period. Finally, Thompson Investment Management Inc. acquired a new stake in shares of Equinix in the fourth quarter worth $47,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Transactions at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 684 shares of Equinix stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $940.51, for a total transaction of $643,308.84. Following the transaction, the insider now directly owns 8,377 shares of the company’s stock, valued at $7,878,652.27. The trade was a 7.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 125 shares of Equinix stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total transaction of $114,026.25. Following the transaction, the director now directly owns 17,669 shares in the company, valued at $16,117,838.49. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,054 shares of company stock valued at $17,466,950. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Stifel Nicolaus increased their price objective on shares of Equinix from $995.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Oppenheimer increased their price objective on shares of Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. JMP Securities reiterated a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a research note on Thursday, February 13th. Barclays increased their price objective on shares of Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. Finally, Wells Fargo & Company cut their price objective on shares of Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $989.35.

Equinix Stock Performance

EQIX opened at $857.25 on Tuesday. The firm’s fifty day simple moving average is $910.74 and its two-hundred day simple moving average is $909.00. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The company has a market cap of $83.44 billion, a price-to-earnings ratio of 100.26, a PEG ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03.

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

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be paid a $4.69 dividend. This is an increase from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Wednesday, February 26th. Equinix’s dividend payout ratio (DPR) is currently 219.42%.

About Equinix

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.