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Equinix Launches Oman Facility, Unveils Bare Metal Service

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Equinix, Inc. (EQIX - Free Report) along with its joint venture partner Oman Telecommunications Company has launched an International Business Exchange (“IBX”) data center in Barka, near Muscat, the capital city of Oman.

Notably, in July 2018, the companies entered a joint venture to build a data center and offer interconnection services to customers in the Middle East. Known as MC1, the facility is Equinix’s first data center in the country and the fourth in the Middle East and North Africa region (“MENA”).

The facility is managed by Equinix and spans more than 23,600 square feet of colocation space. It is built with 725 cabinets, with the capacity to expand to more than 2,150 cabinets.

The facility will serve as a regional interconnection hub, given its location between Asia, Africa and Europe. Moreover, connections to cable landing stations (CLS) and submarine cable systems, which terminate directly inside the facility, offer higher security, better performance and cost savings.

Given the decent utilization of interconnection aimed at increasing the flexibility of connectivity and higher demand for digital transformations in the region, the new IBX data center will provide a comprehensive colocation and interconnection services platform. This will likely enable the company to enjoy a decent demand and leasing at its new facility.

It also announced the availability of a fully automated and interconnected bare-metal service — Equinix Metal.  This will allow digital businesses to deploy physical infrastructure at software speed and benefit from the global footprint, interconnected ecosystems offered by Platform Equinix.

Presently, Equinix Metal is available in the company’s IBX data centers in Amsterdam, New York, Silicon Valley and Washington, D.C. The company aims to make it available in 14 global metros by early 2021.

Moreover, it provides users a variety of physical and virtual deployment choices to place infrastructure anywhere and be well-connected. It will enable customers to deploy hybrid multi-cloud architectures, and will provide seamless access to numerous networks, enterprises and clouds on Platform Equinix.

Notably, Equinix has been focusing on bare-metal services. In fact, other than Equinix Metal, through the acquisition of Packet this March and technologies developed at Equinix, the company can provide a strong infrastructure building block, which can be advantageous for digital leaders.

Shares of Equinix have rallied 38.8% as against the real estate market’s decline of 11% over the past year.The company carries a Zacks Rank of 3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.


Stocks to Consider

Iron Mountain Incorporated’s (IRM - Free Report) funds from operations (FFO) per share estimates for 2020 have been revised marginally upward to $2.17 over the past month. It currently carries a Zacks Rank of 2 (Buy).

Duke Realty Corporation’s (DRE - Free Report) Zacks Consensus Estimate for 2020 FFO per share has been revised 3.5% upward to $1.49 over the past two months. The company currently carries a Zacks Rank of 2.

Sabra Healthcare REIT, Inc.’s (SBRA - Free Report) FFO per share estimates for the ongoing year have been revised 1.2% upward to $1.74 over the past month. The company currently carries a Zacks Rank of 2.

Note: Anything related to earnings presented in this write-up represent funds from operations (FFO) — a widely used metric to gauge the performance of REITs.

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