Blackstone Prices $2.28 Billion Secondary Offering of Digital Realty Stock at $185 Per Share
DLR sits 27% above its 52-week low of $146.23.
Summary
Blackstone has priced its secondary offering of 12.31 million Digital Realty shares at $185 each, totaling approximately $2.28 billion. This follows yesterday's announcement of the offering and represents a significant divestment by a major investor. The sale of a block of shares equivalent to about 3.4% of DLR's market cap could exert downward pressure on the stock.
At the time of this announcement, DLR was trading at $186.00 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $67B. The 52-week trading range was $146.23 to $208.14. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Reuters.