Commodity Channel Index
|Bid||652.25 x 900|
|Ask||720.51 x 800|
|Day's Range||716.96 - 735.99|
|52 Week Range||477.87 - 735.99|
|Beta (5Y Monthly)||0.39|
|PE Ratio (TTM)||121.21|
|Earnings Date||Jul 29, 2020 - Aug 03, 2020|
|Forward Dividend & Yield||10.64 (1.48%)|
|Ex-Dividend Date||May 19, 2020|
|1y Target Est||733.53|
The real estate sector includes companies that own, develop, and manage residential, commercial, and industrial properties. Each of these three real estate segments includes publicly traded real estate investment trusts (REITs).
(Bloomberg) -- The same trends behind soaring stock prices for Amazon.com Inc. and Zoom Video Communications Inc. are benefiting shares in the companies associated with their real estate.Communication towers and data center stocks -- sometimes referred to as “where the internet lives” -- have seen some of the biggest gains in the S&P 500 so far this year as stay-in-place measures to combat the coronavirus have accelerated the demand for digital services and connectivity.Whereas the pandemic has severely hit many commercial property owners, shares in real estate investment trusts related to technology are outperforming. The combined market value gained by just five of those stocks is almost the same as the amount lost by 30 REITs specializing in malls and shopping centers, according to data compiled by Bloomberg News.“If you’re a real estate investor and your mandate is to own real estate, you’re obviously not doing very well owning offices or owning retail,” Cowen analyst Colby Synesael said in a phone interview.With more people at home, the demands on technology and its infrastructure have been tremendous, whether it’s allowing for online shopping, mobile streaming or working remotely. As a result, certain REITs have emerged as defensive plays for investors, Synesael said.American Tower Corp., Digital Reality Trust Inc., Equinix Inc., Crown Castle International Inc. and SBA Communications Corp. have added roughly $50 billion in total market capitalization this year, and valuations for towers and data centers have never been higher.Data centers, for instance, are trading at a roughly 15% premium to the overall REIT average on a price to estimated adjusted funds from operations basis, according to Berenberg analyst Nate Crossett. Historically they’ve traded at a 7% discount.As a global data center company, Equinix has boasted of its work building out coverage and scale for clients that have gone on to become household names in the work-from-home era including Zoom and Cisco Systems Inc.’s Webex.“Two significant customers of ours is Zoom and Webex -- both of whom obviously saw exceptional increases in their demand as work from home took off,” Chief Executive Officer Charles Meyers said in an interview. “We played a very key role in helping them ramp up their capacity to meet that demand. That was true also in networking cloud providers.”Meyers said it’s difficult to anticipate how much more revenue the company could see over time. In terms of demand, he pointed to recent overall online traffic trends, which surged 25% to 30% over a 30- to 45-day period-- growth that normally would take nine months to a year to achieve.Digital Realty Chief Financial Officer Andy Power said in an interview that the company had seen a pickup in data center demand from clients filling near-term gaps but that longer-term, he was “pleasantly surprised” at how larger enterprises were also taking this moment to plan for the future.“We’re seeing the criticality of our infrastructure playing out front and center while many of our other asset classes [in real estate] are seeing sloping rent,” he said. Even for clients in struggling industries such as travel, the company has seen increased deployments. “Our services are fundamentally mission critical for their businesses. You cannot book an airline ticket or any hotel reservation without the infrastructure we’re essentially providing.”Bloomberg Intelligence analyst Lindsay Dutch said the need for increased connectivity during the pandemic has demonstrated the importance of digital infrastructure, which is a long-term driver for the stocks.“If you think of everyone on their computers, trying to connect to their workplace and do all these Zoom calls and stream Netflix -- that creates more traffic and the need for power,” she said.Before the virus, shares in tech-related REITs had already been rising, catching the attention of investors, Cowen’s Synesael said.For communication towers, he noted a sea change in 2018 when Vanguard Group began adding towers to its investment portfolio, prompting more investors to do the same ahead of the U.S. rollout of 5G spectrum.Unlike data centers, tower stocks aren’t seeing a fundamental change in earnings from the pandemic, Synesael said. However, they are still benefiting from trends Covid-19 has accelerated like mobile data use, which Synesael expects to continue.Despite their relative premium, Berenberg’s Crossett said that on an absolute basis “there’s still plenty of room to run” for data center stocks.“To the extent that there’s a pullback, I would be adding to these names,” he said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Leveraging on the demand for connectivity and interconnection in Dallas, Equinix (EQIX) expands the Dallas Infomart Data Center campus with a $142-milion IBX data center.
Equinix, Inc.(Nasdaq: EQIX), the global interconnection and data center company, today announced the expansion of its Dallas Infomart Data Center™ campus with the opening of a new $142M International Business Exchange™ (IBX®) data center and the launch of its 5G and Edge Proof of Concept Center (POCC). The moves support the growing demand for companies to accelerate their evolution from traditional to digital businesses by rapidly scaling their infrastructure, easily adopting hybrid multicloud architectures and interconnecting with strategic business partners within the Platform Equinix® global ecosystem of nearly 10,000 customers.
Amid a low interest-rate environment, Equinix (EQIX) boosts its liquidity and addresses intermediate debt maturities with four series of note offerings.
Equinix, Inc. ("Equinix") (Nasdaq: EQIX), the global interconnection and data center company, announced the pricing of its underwritten public offering of $2.6 billion aggregate principal amount of senior notes, consisting of $500,000,000 of 1.250% Senior Notes due 2025 (the "2025 Notes"), $500,000,000 of 1.800% Senior Notes due 2027 (the "2027 Notes"), $1,100,000,000 of 2.150% Senior Notes due 2030 (the "2030 Notes") and $500,000,000 of 3.000% Senior Notes due 2050 (the "2050 Notes", and together with the 2025 Notes, the 2027 Notes and the 2030 Notes, the "Notes"). The offering is expected to close on June 22, 2020, subject to the satisfaction of customary closing conditions.
Moody's Investors Service (Moody's) has assigned a Baa3 rating to Equinix, Inc.'s (Equinix) proposed senior unsecured notes. Proceeds will be used to repay the company's existing 364 day facility, 2.875% Euro notes due 2024 and 5.875% USD notes due 2026.
BCE divests its lucrative portfolio of 25 data center facilities at 13 sites to Equinix to enhance its focus on core network investments in Canada.
Equinix's (EQIX) buyout of 13 data centers will expand its footprint and aid Canada businesses to accelerate digital transformations. The assets will likely generate around $105 million in yearly revenues.
Equinix, the data center company, has the distinction of recently recording its 69th straight positive quarter. Today, the company announced that it's purchasing 13 data centers from Bell Canada for $750 million, greatly expanding its footing in the country. The deal is financially detailed by Equinix across two axes, including how much the data centers cost in terms of revenue, and adjusted profit.
Equinix, Inc. (Nasdaq: EQIX), the global interconnection and data center company, today announced it has entered into a definitive agreement to purchase a portfolio of 13 data centers across Canada from BCE Inc. ("Bell") for US$750 million (CA$1,041 million) in an all-cash transaction. The 13 data center sites, which represent 25 Bell data center facilities1, are expected to generate approximately US$105 million (CA$150 million) annualized revenue (Q4'20E LQA), which represents a purchase multiple of approximately 15x EV / adjusted EBITDA. The acquisition is expected to close in 2H 2020, subject to customary closing conditions including regulatory approval, and it is expected to be immediately accretive to Equinix's adjusted funds from operations (AFFO) per share upon close, excluding integration costs.
We at Insider Monkey have gone over 821 13F filings that hedge funds and prominent investors are required to file by the SEC The 13F filings show the funds' and investors' portfolio positions as of March 31st, near the height of the coronavirus market crash. In this article, we look at what those funds think […]
Equinix, Inc. (Nasdaq: EQIX), the global interconnection and data center company, today announced that its executives will attend two upcoming investor conferences:
Equinix (EQIX) intends to utilize the net proceeds from the share offering to fund the acquisition of selected data center sites and their operations that is currently in discussions.
Equinix, Inc. (Nasdaq: EQIX), the global interconnection and data center company, today announced the pricing of an underwritten public offering of 2,250,000 shares of its common stock at a price to the public of $665.00 per share. All shares of common stock to be sold in the offering are offered by Equinix. In addition, Equinix has granted the underwriters a 30-day option to purchase up to an additional 337,500 shares of its common stock. The offering is expected to close on May 14, 2020, subject to customary closing conditions.
Moody's Investors Service (Moody's) upgraded Equinix, Inc.'s (Equinix) senior unsecured debt rating to Baa3 from Ba1. Moody's has also withdrawn Equinix's Ba1 corporate family rating, Ba1-PD probability of default rating and SGL-2 speculative grade liquidity rating.
Equinix, Inc. (Nasdaq: EQIX), the global interconnection and data center company, today announced that it commenced a public offering of $1,250.0 million of its common stock. All shares of common stock to be sold in the offering will be offered by Equinix. In addition, Equinix intends to grant the underwriters a 30-day option to purchase up to an additional $187.5 million of shares of its common stock. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Equinix, Inc. (REIT) (NASDAQ:EQIX) came out with its quarterly results last week, and we wanted to see how the...
Equinix (EQIX) delivers the 69th consecutive quarter of revenue growth in first-quarter 2020. Yet, integration costs and unfavorable foreign currency impacts hinder operating performance.