Nomura Lifts EQIX Target on REIT Conversion Plans
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Jefferies Lifts Target on Equinix (EQIX) to $250
September 14, 2012 7:59 AM EDTJefferies boosted its price target on Equinix (NASDAQ: EQIX) from $200 to $250 following board approval to convert to a REIT, which could happen for the 2015 tax year.
"A much anticipated move, nonetheless, we estimate it could lead to higher than previously expected FFO in... More
Equinix (EQIX) Approves Conversion to REIT
September 13, 2012 9:02 AM EDTEquinix, Inc. (Nasdaq: EQIX) has approved a plan for Equinix to pursue conversion to a real estate investment trust (REIT). Equinix's Board reached this decision after thorough analysis of various structures, including alternative financing, capital, and tax strategies, designed to maximize long-term shareholder value. If Equinix is ultimately successful in the conversion process, Equinix expects to elect REIT status for its taxable year beginning January 1, 2015.
Peter Van Camp , Executive Chairman of Equinix , said, "We are committed to creating long-term shareholder value. The REIT structure supports this objective and positions us to achieve profitable, strategic... More
