What Blackstone's REIT Acquisition Spree Is Telling Investors
On Wall Street, many people look at big investors as "smart money." Basically, the idea is that whales like Blackstone (NYSE: BX), which has over $900 billion in assets under management, have the financial resources to make extremely educated investment decisions. Right now, one of the big moves that $120 billion market cap Blackstone is making is to buy real estate. But, notably, a lot of its investments are in real estate investment trusts (REITs). Here's why you should care.
In the first five months or so of 2022, Blackstone or its affiliates have agreed to buy publicly traded REITs PS Business Parks (NYSE: PSB), Preferred Apartment Communities (NYSE: APTS), and American Campus Communities (NYSE: ACC). It also agreed to acquire non-public REIT Resource REIT.
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Source Fool.com