Whether they are called a datacenter or data center, the data center stocks and data center REITs are becoming ever more prevalent, with a new data center ETF market also beginning to emerge. Below we breakdown 14 different publicly-traded data center stocks which trade on both United States and international stock exchanges. We provide a brief description of each company’s data center operations, stock price performance since January 2020, latest market capitalization, and current enterprise value. Notably, not all data center stocks are in fact data center REITs, as many data center companies have elected to operate as corporations.
Data Center REITs
Below are the seven key data center REITs that are headquartered in the United States, with descriptions of their operations.
Equinix (NASDAQ: EQIX)
Equinix is the largest of the data center REITs and has a global footprint of 227 data centers, representing ~1,350 megawatts / 311k cabinets of power capacity. Additionally, these data centers comprise 26.4 million sqft, across 26 countries around the world, and support over 10,000 customers.
- Stock Price Performance (Since January 1, 2020): 1.9%
- Market Capitalization: $54.5 billion
- Enterprise Value: $65.5 billion
Digital Realty (NYSE: DLR)
Digital Realty is the second largest of the data center REITs and has a global footprint of 291 data centers, representing 1,847 megawatts of power capacity. Additionally, these data centers comprise 35.9 million sqft, across 49 metros and six continents, supporting over 4,000 customers.
- Stock Price Performance (Since January 1, 2020): 10.4%
- Market Capitalization: $37.1 billion
- Enterprise Value: $50.9 billion
CyrusOne (NASDAQ: CONE)
CyrusOne operates 55 data centers, representing 874 megawatts of power capacity. Additionally, these data centers comprise 8.0 million sqft, in the United States and Europe, supporting 944 customers.
- Stock Price Performance (Since January 1, 2020): -0.7%
- Market Capitalization: $7.9 billion
- Enterprise Value: $10.8 billion
CoreSite Realty (NYSE: COR)
CoreSite operates 25 data centers, representing 256 megawatts of power capacity. Additionally, these data centers comprise 3.2 million sqft, in the United States, supporting over 1,350 customers.
- Stock Price Performance (Since January 1, 2020): 0%
- Market Capitalization: $4.8 billion
- Enterprise Value: $6.5 billion
QTS Realty Trust (NYSE: QTS)
QTS operates 28 data centers, representing 315 megawatts of power capacity. Additionally, these data centers comprise 3.5 million sqft, in the United States and Europe, supporting over 1,200 customers.
- Stock Price Performance (Since January 1, 2020): 9.2%
- Market Capitalization: $3.8 billion
- Enterprise Value: $6.1 billion
Colony Capital (NYSE: CLNY)
Colony Capital currently owns interests in two data center companies through its balance sheet. Firstly, DataBank’s enterprise data centers, including zColo. Secondly, Vantage stabilized hyperscale data centers (Vantage SDC).
(1) DataBank
DataBank operates 64 data centers, representing 138 megawatts of power capacity. Additionally, these data centers comprise 1.2 million sqft, in the United States and Europe, supporting over 3,000 customers.
(2) Vantage SDC
Vantage SDC operates 12 data centers, representing 150 megawatts of power capacity. Additionally, these data centers comprise 1.4 million sqft, in the United States, supporting over 80 customers.
Key Financial Metrics
- Stock Price Performance (Since January 1, 2020): 30.9%
- Market Capitalization: $3.0 billion
- Enterprise Value: $15.8 billion
Iron Mountain (NYSE: IRM)
Iron Mountain operates 15 data centers, representing 130 megawatts of power capacity. Additionally, these data centers comprise 3.1 million sqft, in the United States, Europe, and Asia, supporting 1,340 customers.
- Stock Price Performance (Since January 1, 2020): 14.7%
- Market Capitalization: $10.3 billion
- Enterprise Value: $18.9 billion
United States-Based Data Center Stocks (non-REITs)
Below are two data center stocks, which do not operate as REITs, that are headquartered in the United States, with descriptions of their operations.
Switch, Inc. (NYSE: SWCH)
Switch operates 4 data centers, representing 490 megawatts of power capacity. Additionally, these data centers comprise 4.7 million sqft, in the United States, supporting over 950 customers.
- Stock Price Performance (Since January 1, 2020): -7.4%
- Market Capitalization: $3.4 billion
- Enterprise Value: $4.7 billion
Cyxtera Technologies (NASDAQ: CYXT)
Cyxtera operates 61 data centers, representing 245 megawatts of power capacity. Additionally, these data centers comprise 1.9 million sqft, in North America, Europe, and Asia, supporting over 2,300 customers.
Note that Cyxtera currently trades under Starboard Value Acquisition Corp. (NASDAQ: SVAC), as its business combination is expected to close in mid-2021. Indeed, at this point, the company will list its common stock on the Nasdaq stock market under the symbol CYXT.
- Stock Price Performance (Since IPO of SVAC in November 2020): 0.5%
- Market Capitalization: $0.5 billion, which post-merger will be valued at $1.8 billion
- Enterprise Value: $0.5 billion, which post-merger will be valued at $3.4 billion
International Data Center Stocks
Below are five data center stocks, that are headquartered internationally, with descriptions of their operations. Specifically, there is a data center or datacenter operator in markets including China, Australia, and Singapore.
GDS Holdings (NASDAQ: GDS)
GDS operates 59 data centers, representing 610 megawatts of power capacity. Additionally, these data centers comprise over 8.0 million sqft, in China, supporting 673 customers.
- Stock Price Performance (Since January 1, 2020): 63.8%
- Market Capitalization: $17.1 billion
- Enterprise Value: $19.7 billion
21Vianet Group (NASDAQ: VNET)
21Vianet operates 54 data centers, representing 200+ megawatts / 51k cabinets of power capacity. Additionally, these data centers comprise over 3.0 million sqft, in China, supporting over 6,000 customers.
- Stock Price Performance (Since January 1, 2020): 324.4%
- Market Capitalization: $4.5 billion
- Enterprise Value: $5.0 billion
Chindata Group (NASDAQ: CD)
Chindata operates 11 data centers, representing 248 megawatts of power capacity. Additionally, these data centers comprise over 3.5 million sqft, in China, India, and Malaysia. Specifically, Chindata’s facilities support a limited number of clients – mainly ByteDance (owner of TikTok).
- Stock Price Performance (Since IPO in September 2020): 25.7%
- Market Capitalization: $6.8 billion
- Enterprise Value: $6.9 billion
NextDC Ltd (ASX: NXT)
NextDC operates 9 data centers, representing 89 megawatts of power capacity. Additionally, these data centers comprise over 850k sqft, in Australia, supporting 1,465 customers.
- Stock Price Performance (Since January 1, 2020): 53.8%
- Market Capitalization: $3.5 billion
- Enterprise Value: $3.5 billion
Keppel DC REIT (SGX: AJBU)
Keppel operates 19 data centers, representing ~300 megawatts of power capacity. Additionally, these data centers comprise 3.5 million sqft, in Southeast Asia, Australia and Europe, supporting over 90 customers.
- Stock Price Performance (Since January 1, 2020): 26.1%
- Market Capitalization: $3.2 billion
- Enterprise Value: $3.9 billion
ETFs with Significant Exposure to Data Centers
Overall, a new data center ETF market is beginning to emerge. Two notable ETFs below weight their assets significantly towards owning select data center companies. Notably, data center REITs and data center stocks such as Equinix and Digital Realty are included in these ETFs.
Pacer Benchmark Data & Infrastructure Real Estate SCTR ETF (NYSE: SRVR)
Pacer Benchmark’s top five data center or datacenter holdings include: Equinix, Iron Mountain, GDS Holdings, Digital Realty, and CyrusOne.
- ETF Price Performance (Since January 1, 2020): 0.9%
- Net Asset Value: $1.0 billion
Global X Data Center REITs & Digital Infrastructure ETF (NASDAQ: VPN)
Global X Data Center’s top five data center or datacenter holdings include: Equinix, Digital Realty, CoreSite, CyrusOne, and GDS Holdings. However, it is worth noting that Global X Data Center’s net asset value is very low, thus liquidity is minimal.
- Stock Price Performance (Since Launch in October 2020): -1.8%
- Net Asset Value: $9.5 million
