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Equinix (EQIX) & GIC JV to Grow xScale Data Centers, Adds $3.9B
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Equinix, Inc. (EQIX - Free Report) recently announced about the agreements for additional joint ventures (JV) in the form of limited liability partnerships with GIC — Singapore's sovereign wealth fund. Equinix and GIC will add $3.9 billion for expansion of the xScaledata center program. It would facilitate the largest technology companies to expand on Platform Equinix.
The deal, on closing and build-out, will bring the xScale data center portfolio to greater than $6.9 billion across 32 facilities globally. These facilities will span across three regions, Europe, Asia Pacific and Americas, delivering more than 600 megawatts of power capacity, on full built out.
In fact, the xScale data centers add to Equinix's global platform of more than 220 International Business Exchange™ (IBX®) data centers. Markedly, the xScale data centers serve the distinctive core workload deployment requirements of hyperscale companies that include major cloud service providers across the world.
Per the agreement terms of the JV, GIC will own an 80% equity interest in future joint ventures, while Equinix will hold the residual 20% stake. Notably, the JV projects are expected to close in a number of tranches over the course of the current year, pending regulatory nods and other closing norms.
According to Charles Meyers, CEO of Equinix, “The joint venture arrangement of xScale enables these large deployments to be structured in an off-balance sheet model that aims to preserve capital for investment in our traditional retail data center and digital infrastructure business and maintain our strategic and financial flexibility."
In fact, well-known cloud service providers like Alibaba Cloud, Microsoft Azure, Amazon Web Services, Google Cloud, IBM Cloud, Microsoft Azure and Oracle Cloud Infrastructure have tied up with Equinix owing to the company’s global platform of more than 220 data centers. This vast network of data centers enables companies to directly connect to strategic business partners and customers.
The development of the xScale data centers is a strategic fit as it will allow hyperscale companies to add core deployments at Equinix’s facilities to their existing access point locations. This will offer direct inter-connection to their customers and strategic business partners, as well as assist growth on a single Equinix platform, spanning across 63 global metro cities.
Industrial Logistics Properties Trust’s (ILPT - Free Report) Zacks Consensus Estimate for 2021 FFO per share for the current year moved up marginally to $1.88 in the past month. The company currently carries a Zacks Rank of 2 (Buy).
National Storage Affiliates Trust’s (NSA - Free Report) estimate for the current-year FFO per share has moved 4.8% north to 1.96 in a month’s time. Currently, the company carries a Zacks Rank of 2.
Braemar Hotels & Resorts Inc. (BHR - Free Report) holds a Zacks Rank of 2, at present. The consensus estimate for the ongoing year’s FFO per share has been revised 37.5% upward to 44 cents over the past two months.
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.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research SherazMian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
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Equinix (EQIX) & GIC JV to Grow xScale Data Centers, Adds $3.9B
Equinix, Inc. (EQIX - Free Report) recently announced about the agreements for additional joint ventures (JV) in the form of limited liability partnerships with GIC — Singapore's sovereign wealth fund. Equinix and GIC will add $3.9 billion for expansion of the xScaledata center program. It would facilitate the largest technology companies to expand on Platform Equinix.
The deal, on closing and build-out, will bring the xScale data center portfolio to greater than $6.9 billion across 32 facilities globally. These facilities will span across three regions, Europe, Asia Pacific and Americas, delivering more than 600 megawatts of power capacity, on full built out.
In fact, the xScale data centers add to Equinix's global platform of more than 220 International Business Exchange™ (IBX®) data centers. Markedly, the xScale data centers serve the distinctive core workload deployment requirements of hyperscale companies that include major cloud service providers across the world.
Per the agreement terms of the JV, GIC will own an 80% equity interest in future joint ventures, while Equinix will hold the residual 20% stake. Notably, the JV projects are expected to close in a number of tranches over the course of the current year, pending regulatory nods and other closing norms.
According to Charles Meyers, CEO of Equinix, “The joint venture arrangement of xScale enables these large deployments to be structured in an off-balance sheet model that aims to preserve capital for investment in our traditional retail data center and digital infrastructure business and maintain our strategic and financial flexibility."
In fact, well-known cloud service providers like Alibaba Cloud, Microsoft Azure, Amazon Web Services, Google Cloud, IBM Cloud, Microsoft Azure and Oracle Cloud Infrastructure have tied up with Equinix owing to the company’s global platform of more than 220 data centers. This vast network of data centers enables companies to directly connect to strategic business partners and customers.
The development of the xScale data centers is a strategic fit as it will allow hyperscale companies to add core deployments at Equinix’s facilities to their existing access point locations. This will offer direct inter-connection to their customers and strategic business partners, as well as assist growth on a single Equinix platform, spanning across 63 global metro cities.
In the past three months, shares of this Zacks Rank #3 (Hold) company have appreciated 22.8% compared with the real estate market’s rally 10.3%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stocks to Consider
Industrial Logistics Properties Trust’s (ILPT - Free Report) Zacks Consensus Estimate for 2021 FFO per share for the current year moved up marginally to $1.88 in the past month. The company currently carries a Zacks Rank of 2 (Buy).
National Storage Affiliates Trust’s (NSA - Free Report) estimate for the current-year FFO per share has moved 4.8% north to 1.96 in a month’s time. Currently, the company carries a Zacks Rank of 2.
Braemar Hotels & Resorts Inc. (BHR - Free Report) holds a Zacks Rank of 2, at present. The consensus estimate for the ongoing year’s FFO per share has been revised 37.5% upward to 44 cents over the past two months.
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.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research SherazMian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
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