Digital Realty Trust is trading 7.3% down at $163.23 in pre-market action following a substantial equity issuance and a $2.35 billion secondary offering tied to its $3.5 billion acquisition of Blackstone’s data center interests.
- Investors are reacting to dilution concerns from newly issued shares and the added market supply resulting from Blackstone’s secondary sale.
- The capital raise is intended to fund the acquisition of Blackstone’s interests in a massive data center portfolio, a move analysts view as positive for long-term growth despite the immediate price pressure.