Morgan Stanley analyst Michael Cyprys keeps an Overweight rating on Blackstone with a $113 price target after the University of California announced a long term strategic venture to invest $4B into Blackstone Real Estate Income Trust. The $4B cash infusion from University of California "provides fresh liquidity and financial flexibility" for the vehicle, which helps support both gross sales and redemptions, Cyprys tells investors in a research note. The first sizable institutional into BREIT demonstrates demand for the vehicle’s attractive asset mix and risk/return profile, says Cyprys.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on BX:
- Blackstone (NYSE:BX) Stock Gains as BREIT Gets $4B Boost
- UC Investments to invest $4B in Blackstone Real Estate Income Trust
- Targa to acquire Blackstone’s 25% interest in Grand Prix for $1.05B
- Apollo Global downgraded to Market Perform from Outperform at Keefe Bruyette
- Hipgnosis Turns Belieber with New Upcoming Purchase