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Baron Funds Comments on Equinix Inc.
Posted by: Holly LaFon (IP Logged)
Date: August 2, 2013 04:11PM
Equinix, Inc. (EQIX) is a leading Internet exchange service provider, serving communications, content and enterprise customers in state-of-the-art data centers. Equinix also offers interconnection services to customers seeking to connect directly with other Equinix customers. We believe that this "tethering" of customers in a network neutral environment creates important competitive barriers that distinguish Equinix from other data center business models. Last year, management indicated its intention to convert the company to a REIT. Shares were pressured this quarter, as the market grew concerned about the company's ability to make this REIT conversion. In addition, REIT shares themselves were under pressure on concerns that rising interest rates would depress their relative valuations in the stock market. We believe that Equinix remains an attractive investment, whether or not a REIT conversion eventually occurs.
From the Baron Funds’ second quarter 2013 commentary.
Guru Discussed: Ron Baron: Current Portfolio, Stock Picks
Stocks Discussed: EQIX,
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