Vision Capital Corp Takes $31.19 Million Position in Equinix, Inc. (NASDAQ:EQIX)

Vision Capital Corp bought a new position in shares of Equinix, Inc. (NASDAQ:EQIX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 33,075 shares of the financial services provider’s stock, valued at approximately $31,186,000. Equinix accounts for approximately 5.0% of Vision Capital Corp’s portfolio, making the stock its 3rd largest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kestra Investment Management LLC bought a new position in shares of Equinix during the 4th quarter valued at about $31,000. J.Safra Asset Management Corp bought a new stake in Equinix during the fourth quarter worth approximately $39,000. Sierra Ocean LLC acquired a new position in Equinix in the fourth quarter worth approximately $42,000. Thompson Investment Management Inc. bought a new position in shares of Equinix in the fourth quarter valued at $47,000. Finally, Key Financial Inc increased its holdings in shares of Equinix by 30.4% in the fourth quarter. Key Financial Inc now owns 60 shares of the financial services provider’s stock valued at $57,000 after buying an additional 14 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Citigroup decreased their target price on Equinix from $1,020.00 to $970.00 and set a “buy” rating on the stock in a report on Thursday. Wolfe Research raised Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 price target on the stock in a research note on Thursday, March 27th. Citizens Jmp raised shares of Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Truist Financial dropped their target price on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a research report on Monday, March 10th. Finally, Scotiabank boosted their price target on shares of Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a report on Monday, March 3rd. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $1,005.50.

Equinix Stock Performance

Shares of EQIX stock opened at $790.15 on Monday. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The stock’s 50-day moving average is $847.77 and its two-hundred day moving average is $897.68. 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 firm has a market cap of $77.29 billion, a P/E ratio of 92.42, a PEG ratio of 1.78 and a beta of 0.95.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping 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%. Analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were paid a $4.69 dividend. This represents a $18.76 annualized dividend and a dividend yield of 2.37%. The ex-dividend date was Wednesday, February 26th. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s payout ratio is presently 219.42%.

Insider Buying and Selling

In related news, Director Christopher B. Paisley sold 125 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total value of $114,026.25. Following the completion of the sale, the director now directly owns 17,669 shares in the company, valued at approximately $16,117,838.49. The trade was a 0.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 value of $643,308.84. Following the transaction, the insider now owns 8,377 shares in the company, valued at approximately $7,878,652.27. This trade represents a 7.55 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,040 shares of company stock worth $6,547,068. Corporate insiders own 0.27% of the company’s stock.

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.