TIAA Trust National Association Sells 74 Shares of Equinix, Inc. (NASDAQ:EQIX)

TIAA Trust National Association trimmed its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 1.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,743 shares of the financial services provider’s stock after selling 74 shares during the period. TIAA Trust National Association’s holdings in Equinix were worth $3,589,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of EQIX. Public Employees Retirement System of Ohio grew its position in shares of Equinix by 0.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 182,683 shares of the financial services provider’s stock worth $147,131,000 after buying an additional 1,159 shares during the period. Pinebridge Investments L.P. acquired a new position in Equinix during the fourth quarter valued at approximately $3,724,000. Global Assets Advisory LLC acquired a new stake in Equinix in the first quarter worth $15,187,000. Schroder Investment Management Group boosted its position in shares of Equinix by 0.6% during the fourth quarter. Schroder Investment Management Group now owns 241,950 shares of the financial services provider’s stock worth $194,864,000 after purchasing an additional 1,547 shares in the last quarter. Finally, Banque Cantonale Vaudoise grew its holdings in shares of Equinix by 48.0% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,578 shares of the financial services provider’s stock valued at $5,430,000 after buying an additional 2,133 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Stock Performance

Shares of EQIX opened at $827.59 on Thursday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a 50-day moving average of $798.12 and a 200-day moving average of $794.56. The company has a market cap of $78.54 billion, a PE ratio of 83.01, a price-to-earnings-growth ratio of 2.03 and a beta of 0.68. Equinix, Inc. has a one year low of $677.80 and a one year high of $914.93.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.88 by ($4.72). Equinix had a net margin of 12.24% and a return on equity of 8.46%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the company earned $8.04 EPS. Equinix’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, equities analysts forecast that Equinix, Inc. will post 31.04 earnings per share for the current year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be paid a $4.26 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $17.04 dividend on an annualized basis and a yield of 2.06%. Equinix’s dividend payout ratio (DPR) is currently 170.91%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. The Goldman Sachs Group started coverage on Equinix in a research note on Monday, July 1st. They set a “buy” rating and a $870.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Mizuho began coverage on Equinix in a research note on Thursday, July 11th. They set an “outperform” rating and a $873.00 target price for the company. Royal Bank of Canada cut their price target on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 28th. Finally, Truist Financial increased their price objective on shares of Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $876.71.

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.