Blackstone Digital Infrastructure Trust Inc. (NYSE:BXDC) Sees Large Increase in Short Interest

Blackstone Digital Infrastructure Trust Inc. (NYSE:BXDC) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 4,124,524 shares, a growth of 86.3% from the August 31st total of 2,213,988 shares. Based on an average daily trading volume, of 1,114,167 shares, the days-to-cover ratio is presently 3.7 days. Currently, 4.1% of the shares of the stock are short sold.

Analyst Ratings Changes

Several brokerages have recently commented on BXDC. Weiss Ratings lowered Blackstone Digital Infrastructure Trust from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, September 16th. JPMorgan Chase & Co. began coverage on Blackstone Digital Infrastructure Trust in a report on Monday, June 8th. They issued a “neutral” rating and a $23.00 target price on the stock. Morgan Stanley initiated coverage on Blackstone Digital Infrastructure Trust in a research report on Wednesday, June 10th. They issued an “equal weight” rating and a $23.00 price target for the company. Bank of America started coverage on Blackstone Digital Infrastructure Trust in a research note on Monday, June 8th. They set a “neutral” rating and a $22.50 price target for the company. Finally, Citigroup started coverage on shares of Blackstone Digital Infrastructure Trust in a research report on Monday, June 8th. They issued a “neutral” rating and a $23.00 price objective on the stock. Six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Blackstone Digital Infrastructure Trust presently has an average rating of “Hold” and an average price target of $23.71.

Institutional Trading of Blackstone Digital Infrastructure Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BXDC. State Street Corp acquired a new stake in shares of Blackstone Digital Infrastructure Trust during the 2nd quarter worth about $9,303,000. Squarepoint Ops LLC acquired a new position in shares of Blackstone Digital Infrastructure Trust in the second quarter valued at approximately $1,426,000. Readystate Asset Management LP purchased a new position in shares of Blackstone Digital Infrastructure Trust during the second quarter valued at approximately $1,127,000. Fund 1 Investments LLC purchased a new position in shares of Blackstone Digital Infrastructure Trust during the second quarter valued at approximately $2,731,000. Finally, Wellington Management Group LLP purchased a new position in shares of Blackstone Digital Infrastructure Trust during the second quarter valued at approximately $83,382,000.

Blackstone Digital Infrastructure Trust Price Performance

Shares of Blackstone Digital Infrastructure Trust stock traded down $0.22 during trading on Wednesday, hitting $17.44. 2,442,436 shares of the company were exchanged, compared to its average volume of 1,381,631. Blackstone Digital Infrastructure Trust has a fifty-two week low of $17.21 and a fifty-two week high of $22.90. The stock has a 50 day moving average of $20.05.

Blackstone Digital Infrastructure Trust (NYSE:BXDC) last announced its earnings results on Tuesday, August 4th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. As a group, research analysts expect that Blackstone Digital Infrastructure Trust will post 0.35 EPS for the current fiscal year.

About Blackstone Digital Infrastructure Trust

Blackstone Digital Infrastructure Trust, Inc is a digital infrastructure investment company sponsored by Blackstone. The trust focuses on owning and investing in essential infrastructure that supports the digital economy, including data centers and related facilities used by cloud-computing, telecommunications and technology businesses.

Its investments are intended to provide the physical capacity and connectivity required for data storage, processing and network services. The trust’s portfolio may include operating digital infrastructure assets as well as investments in companies that develop, own or manage those assets.

Blackstone Digital Infrastructure Trust is part of Blackstone’s broader global digital infrastructure platform.