AllAnalyst Report
logoArgusNovember 29, 2023

Equinix, Inc.: Strong dividend growth; reaffirming BUY

Symbols
EQIX
Sector(s)
Real Estate
Rating
Current Price
$896.40
Price Target
Earnings Estimate
Summary

Equinix is a real estate investment trust focusing on interconnected data centers. EQIX develops data center platforms and architecture for businesses involved in cloud software, IT, financial services, and mobile services. The company offers secure networks and cloud-neutral data platforms, and is leveraged to the secular transition away from on-premises data centers to cloud colocation centers. The company provides over 443,000 interconnections and operates 239 data centers on six continents, in 70 global metro areas, and 32 countries with a growing focus on hyperscale centers. About half of centers are wholly owned. Approximately 44% of current revenue comes from the Americas, 35% from EMEA, and 21% from the Asia-Pacific region. About three-quarters of recurring revenues come from colocation. Current expansion is focused on Africa, India, and South America. EQIX shares are a component of the S&P 500. The market cap is $75 billion.

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