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Should You Invest in Equinix (EQIX)?

Baron Funds, an investment management company, released its “Baron Real Estate Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund declined 4.86% (Institutional Shares) compared to a 4.99% decline for its primary benchmark, the MSCI USA IMI Extended Real Estate Index. At the same time, the fund outperformed the MSCI US REIT Index, which fell 10.28% in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Baron Funds highlighted stocks like Equinix, Inc. (NASDAQ:EQIX) in the Q3 2022 investor letter. Equinix, Inc. (NASDAQ:EQIX) is a digital infrastructure company. On November 21, 2022, Equinix, Inc. (NASDAQ:EQIX) stock closed at $654.89 per share. One-month return of Equinix, Inc. (NASDAQ:EQIX) was 18.02% and its shares lost 15.97% of their value over the last 52 weeks. Equinix, Inc. (NASDAQ:EQIX) has a market capitalization of $60.602 billion.

Baron Funds made the following comment about Equinix, Inc. (NASDAQ:EQIX) in its Q3 2022 investor letter:

Equinix, Inc. (NASDAQ:EQIX) is the premier global carrier and cloud-neutral data center operator with 250 data centers in 70 metropolitan areas and 30 countries. Equinix is currently valued at under 20 times cash flow versus recent private market data center transactions that have occurred at 25 to 30 times cash flow. The shares are valued at a similar multiple to REIT.”

Best Data Center Stocks To Buy
Best Data Center Stocks To Buy

Equinix, Inc. (NASDAQ:EQIX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 39 hedge fund portfolios held Equinix, Inc. (NASDAQ:EQIX)  at the end of the third quarter which was 38 in the previous quarter.

We discussed Equinix, Inc. (NASDAQ:EQIX) in another article and shared the list of best data center stocks to invest in according to hedge funds. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.

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