Seeking Alpha

Blackstone soars as IPOs boost results

  • It's been a long run, but Blackstone's (BX) stock is finally set to top its IPO price today - up 7.7% in the premarket  to $33.30 after blowing through Q4 estimates, partly thanks to the reopening of the IPO window which allowed the offerings of Merlin, Hilton, Extended Stay and Brixmor in Q4.
  • Stephen Schwarzman: 2013 shows how "our long-term fund structures benefit our investors, and how our patient approach towards improving assets can ultimately drive better earnings growth and fund performance." Indeed.
  • Performance fees of $1.69B gained 259% from a year ago. Investment income of $356.7M up 219%. Economic net income of $1.54B up 130% Y/Y. ENI per unit of $1.35 compares to $0.59 last year. Distributable earnings of $0.68 per unit up 51% from a year ago.
  • CC at 11 ET
  • Press release, Q4 results
  • Supplemental financial data

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Comments (3)
  • mostserene1
    , contributor
    Comments (3358) | Send Message
     
    Long BX and lovin' it.
    30 Jan 2014, 08:00 AM Reply Like
  • PeteCal
    , contributor
    Comments (90) | Send Message
     
    Roger that!
    30 Jan 2014, 09:30 AM Reply Like
  • DAG Investments
    , contributor
    Comments (3942) | Send Message
     
    Right on time for my first price target ($34) ... got a full article coming soon, but in the meantime, my current price target is here: http://seekingalpha.co...
    30 Jan 2014, 02:38 PM Reply Like
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