Blackstone Marks Down Property Valuations as Higher Rates Bite Returns
BX is trading near its 52-week low of $101.73 (6.7% above the low).
Summary
Blackstone has cut valuations across its property holdings, with the FT tying the markdowns to higher rates weighing on real estate returns. This lands the same morning the firm reported distributable earnings fell 13% to $1.32 per share, or $1.72B, as turbulent markets choked off investment exits. The combination matters because real estate is a core Blackstone franchise, and lower marks feed directly into fee-earning AUM and performance-fee potential.
At the time of this announcement, BX was trading at $108.51 on NYSE in the Finance sector, with a market capitalization of approximately $136.1B. The 52-week trading range was $101.73 to $165.14. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.