From Baron Funds' second-quarter letter:
Shares of network-neutral data center operator Equinix, Inc. performed well during the quarter, as demand from its interconnection-focused data center customers remained strong, and the company raised its earnings guidance for the full year. In addition, management continued exploring the viability of converting to a REIT structure, which we believe continued to drive a meaningful revaluation of the shares. Compared with other REITs, we believe Equinix's shares remain notably undervalued.
Shares of network-neutral data center operator Equinix, Inc. performed well during the quarter, as demand from its interconnection-focused data center customers remained strong, and the company raised its earnings guidance for the full year. In addition, management continued exploring the viability of converting to a REIT structure, which we believe continued to drive a meaningful revaluation of the shares. Compared with other REITs, we believe Equinix's shares remain notably undervalued.
