NYSE:BX
61.19
1.02
(1.64%)
The Blackstone Group L.P. is an American multinational private equity, alternative asset management and financial services firm based in New York City.
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Analysis and Opinions about BX-N
Signal
Opinion
Expert
DON'T BUY
DON'T BUY
November 22, 2019
A very well-run business. It’s in a competitive space and there are tax changes that could make it more profitable. The limit is the intellectual capital of the people running the business. At these valuations, he wouldn’t be a buyer, and if he had holdings, he would take some profits by selling half.
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A very well-run business. It’s in a competitive space and there are tax changes that could make it more profitable. The limit is the intellectual capital of the people running the business. At these valuations, he wouldn’t be a buyer, and if he had holdings, he would take some profits by selling half.
BUY
BUY
November 5, 2019
The largest private equity company in the world. BX has raised a ton of money lately, but the trouble is how do they put this money to work? Low interest rates help, because they leverage a lot. They are in real estate, and loans, not just private equity--so well-diversified. Problem is, BX now competes heavily in private markets (with BAM-N, for example), an area which enjoys higher rates of return. There's a lot of money chasing fewer deals. However, BX is an incredibly well-run company.
The largest private equity company in the world. BX has raised a ton of money lately, but the trouble is how do they put this money to work? Low interest rates help, because they leverage a lot. They are in real estate, and loans, not just private equity--so well-diversified. Problem is, BX now competes heavily in private markets (with BAM-N, for example), an area which enjoys higher rates of return. There's a lot of money chasing fewer deals. However, BX is an incredibly well-run company.
WEAK BUY
WEAK BUY
October 28, 2019
It has been a fantastic global private equity business. They made a huge play at rolling up a lot of these industrial real estate portfolios across the world. They do all kinds of different asset allocations across the world. They announced they will convert from a partnership into a corp. so the share price increased due to anticipation of this being part of an index, thereby making all kinds of institutions need to own it because it is the index. He prefers ONEX-T to BX-N.
It has been a fantastic global private equity business. They made a huge play at rolling up a lot of these industrial real estate portfolios across the world. They do all kinds of different asset allocations across the world. They announced they will convert from a partnership into a corp. so the share price increased due to anticipation of this being part of an index, thereby making all kinds of institutions need to own it because it is the index. He prefers ONEX-T to BX-N.
COMMENT
COMMENT
October 8, 2019
There's been a big sell-off in financials with declining interest rates. BX just converted into a corporation, so funds could now buy it a He sold his shares before the July 1 conversion. A diversified holding.
Show full opinionHide full opinionThere's been a big sell-off in financials with declining interest rates. BX just converted into a corporation, so funds could now buy it a He sold his shares before the July 1 conversion. A diversified holding.
WATCH
WATCH
October 2, 2019
Trade tension exposure? He is not sure how their portfolio is exposed to the China trade tensions. Their success rides off credit availability (more is better for their company) and when they optimize the business before selling out of it (better when markets are weak). Strong markets and widening credit spreads make it tough right now. Keep it on the watch list though.
Show full opinionHide full opinionTrade tension exposure? He is not sure how their portfolio is exposed to the China trade tensions. Their success rides off credit availability (more is better for their company) and when they optimize the business before selling out of it (better when markets are weak). Strong markets and widening credit spreads make it tough right now. Keep it on the watch list though.
COMMENT
COMMENT
October 2, 2019
For CG-Q he has concerns about times when asset prices are bid up during strong market times. As an active asset manager, this can make their business more challenging. He would go for best in class in this category and that is BX-N.
BUY WEAKNESS
BUY WEAKNESS
September 25, 2019
They should do well long-term. They continue to raise money for their funds in real estate -- the latest was $20 billion to buy DreamGlobal. You probably want to wait for a better entry point. Yield 3.5%
Show full opinionHide full opinionThey should do well long-term. They continue to raise money for their funds in real estate -- the latest was $20 billion to buy DreamGlobal. You probably want to wait for a better entry point. Yield 3.5%
COMMENT
COMMENT
September 17, 2019
They converted from an LP to a corporation which attracted a different shareholder base (index funds). This shift spiked their valuation. He owns BAM instead, which shares the same drivers as BX: low yields, pension plans and institutional investors. These stocks are essentially synthetic bonds with assets. Trades at 15x forward distributed earnings. BX is a well-run company in a shareholder-friendly space.
Show full opinionHide full opinionThey converted from an LP to a corporation which attracted a different shareholder base (index funds). This shift spiked their valuation. He owns BAM instead, which shares the same drivers as BX: low yields, pension plans and institutional investors. These stocks are essentially synthetic bonds with assets. Trades at 15x forward distributed earnings. BX is a well-run company in a shareholder-friendly space.
COMMENT
COMMENT
July 11, 2019
Really good company. Nice yield. Principal problem is it's run right up to fair market value. Earnings forecast has leveled out. Stock's coming to a peak of momentum to drive it higher.
Show full opinionHide full opinionReally good company. Nice yield. Principal problem is it's run right up to fair market value. Earnings forecast has leveled out. Stock's coming to a peak of momentum to drive it higher.
BUY
BUY
May 23, 2019
They bought it below $35. He likes the dividend. They are converting to a corporation.
Show full opinionHide full opinionThey bought it below $35. He likes the dividend. They are converting to a corporation.
DON'T BUY
DON'T BUY
February 6, 2019
2-year outlook They may change their corporate structure from a limited partnership to a regular tax-paying corporation. Also, their Q4 was volatile with revenues being only one-third compared to the previous year. Their share price is flat over a long period of time.
Show full opinionHide full opinion2-year outlook They may change their corporate structure from a limited partnership to a regular tax-paying corporation. Also, their Q4 was volatile with revenues being only one-third compared to the previous year. Their share price is flat over a long period of time.
COMMENT
COMMENT
January 29, 2019
High-yielding stock, but in a tight trading range of $31-36. Get this for steady dividends only. Exit below $31.
Show full opinionHide full opinionHigh-yielding stock, but in a tight trading range of $31-36. Get this for steady dividends only. Exit below $31.
PAST TOP PICK
PAST TOP PICK
January 4, 2019
(A Top Pick Sep 06/18, Down 13%) An alternative asset manager -- the biggest in the space. They shell out 5-10% in a yield. He continues to like them.
Show full opinionHide full opinion(A Top Pick Sep 06/18, Down 13%) An alternative asset manager -- the biggest in the space. They shell out 5-10% in a yield. He continues to like them.
TOP PICK
TOP PICK
September 6, 2018
They have done a great job. They are raising a lot of money. It is still a limited partnership. When KKR converted to a company, you saw the stock price jump up on conversion because people then buy it because it is part of the index. (Analysts’ target: $41.08).
They have done a great job. They are raising a lot of money. It is still a limited partnership. When KKR converted to a company, you saw the stock price jump up on conversion because people then buy it because it is part of the index. (Analysts’ target: $41.08).
PAST TOP PICK
PAST TOP PICK
August 30, 2018
(A Top Pick June 22/17 - Up 12%.) Up 21% including the dividends. The largest private equity company in the world. They have $100 billion in cash as firepower. In the US there is a big push from pension plans to go to alternative asset classes.
(A Top Pick June 22/17 - Up 12%.) Up 21% including the dividends. The largest private equity company in the world. They have $100 billion in cash as firepower. In the US there is a big push from pension plans to go to alternative asset classes.
