Equinix grew 14% in 2014 vs expectations of 11%, driven by the big secular trends like cloud computing, mobile, social media and the Internet of Things, CEO Steve Smith tells TheStreet's Jill Malandrino. The Q4 reported loss was a one-time charge associated with the REIT conversion, a much-anticipated investor event. Smith explains REIT status makes the company more competitive with other data centers that are REITs, returns more shareholder cash and frees up more money for M&A and organic growth. Smith sees further consolidation in the telecommunications space. It's happening in the data center sector now of which Equinix can benefit as it normally gets the first look on some of these opportunities.