Sumitomo Mitsui Trust Group Inc. Makes New Investment in Blackstone Digital Infrastructure Trust Inc. $BXDC

Sumitomo Mitsui Trust Group Inc. bought a new position in Blackstone Digital Infrastructure Trust Inc. (NYSE:BXDC) during the third quarter, Holdings Channel reports. The firm bought 88,207 shares of the company’s stock, valued at approximately $1,530,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Sterling Capital Management LLC bought a new stake in Blackstone Digital Infrastructure Trust in the 3rd quarter worth about $36,000. Farther Finance Advisors LLC bought a new position in shares of Blackstone Digital Infrastructure Trust during the 3rd quarter worth approximately $102,000. ProShare Advisors LLC bought a new position in shares of Blackstone Digital Infrastructure Trust during the 3rd quarter worth approximately $214,000. Sowell Financial Services LLC bought a new position in shares of Blackstone Digital Infrastructure Trust during the 3rd quarter worth approximately $249,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of Blackstone Digital Infrastructure Trust in the 3rd quarter worth approximately $449,000.

Blackstone Digital Infrastructure Trust Stock Performance

Shares of BXDC stock opened at $15.98 on Friday. The business’s 50 day moving average is $17.83. Blackstone Digital Infrastructure Trust Inc. has a 12-month low of $15.35 and a 12-month high of $22.90. The stock has a market cap of $1.61 billion and a price-to-earnings ratio of 114.14.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Citigroup raised Blackstone Digital Infrastructure Trust from a “neutral” rating to a “buy” rating and reduced their target price for the company from $23.00 to $20.00 in a report on Monday, October 12th. Weiss Ratings lowered Blackstone Digital Infrastructure Trust from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, September 16th. Wall Street Zen raised Blackstone Digital Infrastructure Trust to a “hold” rating in a research report on Saturday, August 29th. Finally, BMO Capital Markets cut their price objective on Blackstone Digital Infrastructure Trust from $23.00 to $22.00 and set a “market perform” rating on the stock in a research report on Tuesday, August 4th. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $23.46.

Blackstone Digital Infrastructure Trust Company Profile

Blackstone Digital Infrastructure Trust is an investment vehicle sponsored by Blackstone that focuses on digital infrastructure assets. Its investment strategy is centered on infrastructure that supports the growth of data usage, cloud computing, artificial intelligence, mobile connectivity and other digital services.

The trust may invest in assets such as data centers, fiber-optic networks, wireless infrastructure and related digital facilities. These assets provide the physical capacity and connectivity required by businesses, telecommunications providers, cloud platforms and other technology users.

Blackstone Digital Infrastructure Trust is part of Blackstone’s broader digital infrastructure investment platform, which seeks opportunities in markets where demand for data storage, processing and transmission is expanding.