0419 GMT - NextDC's inclusion in the NAREIT Real Estate Index paved the way for the Australian data-center operator to raise new equity at an attractive price, Canaccord Genuity analysts say. They observe that the inclusion was the catalyst for an 8% rise in NextDC shares, allowing the ASX-listed company to raise equity at an 11% premium to its previous raise in April. They tell clients in a note that Blackstone's acquisition of rival operator AirTrunk has also helped raise the profile of the sector among investors. Canaccord Genuity has a buy rating and A$18.85 target price on NextDC shares, which are up 1.4% at A$17.09. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
September 12, 2024 00:19 ET (04:19 GMT)
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