Equinix shares undervalued at 22x AFFO despite strong 10%+ growth and resilient data center demand

Equinix is trading at a discounted 22x AFFO multiple despite demonstrating robust earnings growth of 10%+ CAGR and strong operational performance. The company's unique interconnection ecosystem and solid tenant demand support durable growth beyond the AI-driven capex cycle. Risks like development restrictions and power constraints are mitigated by Equinix's land bank and disciplined permitting process. Compared to peers and its own history, Equinix shares appear undervalued, with a potential fair value near $1,240 if re-rated to 26x AFFO, indicating significant upside for investors.

Equinix shares are trading at USD 1,034.29 on Pluang as of September 24, 2026, slightly below their 52-week high of USD 1,120 but well above the 52-week low of USD 726.09. Despite a minor 0.32% dip in one day, investor interest remains strong with 100% buy orders on the platform. The stock's dividend yield stands at 1.99%, and typical holding time is 109 days, indicating steady investor confidence in the real estate sector.