Equinix, Inc. Announces Quarterly Dividend of $4.26 (NASDAQ:EQIX)

Equinix, Inc. (NASDAQ:EQIX) announced a quarterly dividend on Wednesday, May 8th, RTT News reports. Investors of record on Wednesday, May 22nd will be paid a dividend of 4.26 per share by the financial services provider on Wednesday, June 19th. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.21%.

Equinix has increased its dividend by an average of 10.8% annually over the last three years and has increased its dividend annually for the last 8 consecutive years.

Equinix Stock Performance

Shares of EQIX stock opened at $772.43 on Friday. The stock has a market capitalization of $73.09 billion, a P/E ratio of 74.92, a PEG ratio of 1.81 and a beta of 0.62. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.19. The firm’s 50 day moving average is $796.48 and its 200 day moving average is $801.33. Equinix has a 12 month low of $672.88 and a 12 month high of $914.93.

Insider Activity at Equinix

In related news, CFO Keith D. Taylor sold 1,164 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.98, for a total transaction of $969,588.72. Following the transaction, the chief financial officer now owns 23,187 shares of the company’s stock, valued at approximately $19,314,307.26. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Equinix news, CFO Keith D. Taylor sold 1,164 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $832.98, for a total value of $969,588.72. Following the sale, the chief financial officer now owns 23,187 shares of the company’s stock, valued at approximately $19,314,307.26. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Camp Peter Van sold 122 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total transaction of $101,396.64. Following the completion of the sale, the chairman now directly owns 7,968 shares in the company, valued at approximately $6,622,364.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,585 shares of company stock valued at $3,818,268. Insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Barclays lowered their target price on shares of Equinix from $818.00 to $669.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Oppenheimer increased their target price on shares of Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Morgan Stanley lowered their target price on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 28th. Wells Fargo & Company increased their target price on shares of Equinix from $800.00 to $825.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 15th. Finally, HSBC cut shares of Equinix from a “buy” rating to a “hold” rating and set a $900.00 target price on the stock. in a research note on Wednesday, March 20th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Equinix has a consensus rating of “Moderate Buy” and an average target price of $870.44.

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.