Key TakeawaysEquity Residential has agreed to pay Blackstone Real Estate $964 million for 11 apartment properties.The complexes are situated in Atlanta, Dallas/Fort Worth, and Denver, locations it is targeting for expansion.Equity Residential said the units are attractive to its "higher end renter demographic." Shares of Equity Residential (EQR) fell Wednesday after the real estate investment trust (REIT) announced it had agreed to purchase 11 apartment properties from Blackstone's (BX) real estate unit in ...

公司业务概况 - 公司业务包括资产管理、资本市场服务、投资收益等多个方面[324] - 公司业务分为房地产、私募股权、信用与保险、多资产投资四大板块[324] 房地产业务 - 房地产业务包括全球房地产投资、房地产债券投资等[325][326][327][328] - 公司的全球机会房地产和核心+房地产投资组合集中在具有有利长期基本面的高确信行业，如数字基础设施、物流和租赁住房[491] - 公司的房地产业务在第二季度中最大的增值驱动因素是其数据中心平台，预计未来对数字基础设施的需求将持续增长[492] - 公司认为房地产市场环境的改善将随着时间的推移支持房地产估值，但预计从市场改善到变现加速之间会存在一定滞后[494] - 公司房地产基金在2024年上半年的部署达146亿美元，约为2023年同期的2.5倍，这是一个积极信号[494] - 公司的永续资本策略如BREIT在2024年第二季度的净流入达到了一年多来的最高水平，同时赎回请求在2024年6月较2023年1月的峰值下降了85%[494] - 公司认为即使市场环境恶化,强劲的投资业绩和投资者对永续资本策略的配置不足应该会长期推动资金流入[494] - 公司的房地产业务的费用相关收益在2024年第二季度下降了107.8百万美元，主要由于费用相关业绩收入和其他运营费用的增加[495,497] - 公司的房地产业务的净变现在2024年第二季度下降了14.8百万美元，主要由于实现的业绩收入下降[499,500] - 公司的房地产业务的费用相关收益在2024年上半年下降了46.2百万美元，主要由于运营费用和费用相关薪酬的增加[503,504,505] 私募股权业务 - 私募股权业务包括全球私募股权基金、机会投资、次级基金、基础设施、生命科学等[329][330][331][332][333][334][335][336][337] 信用与保险业务 - 信用与保险业务包括私人信贷、流动性信贷、基础设施和资产抵押贷款等[338][339][340][341] 多资产投资业务 - 多资产投资业务包括绝对收益和多策略投资[342] 公司业绩表现 - 公司业务受到金融市场和经济环境的重大影响[343] - 第二季度主要股票和信用市场均有所上涨[344] - 美国经济增长有所加快但通胀和失业率有所上升[345][346] - 欧洲和中国货币政策有所放松以应对经济放缓[348] - 公司使用Distributable Earnings、Segment Distributable Earnings和Fee Related Earnings等非GAAP财务指标来评估业务表现[353,356,361] - 公司将Realized Performance Compensation和Fee Related Compensation进行了调整,这对各季度的收益指标产生了影响,但全年影响不大[358,359] - 公司总收入为28亿美元，同比下降1%[382] - 投资收益总额下降17%，主要由于未实现投资收益下降[383,384] - 管理和顾问费收入增加5%，主要来自信贷与保险板块的增长[385] - 总费用增加11%，主要由于绩效分成补偿增加[387] - 其他收益下降49%，主要由于基金投资收益减少[388,389] - 总收入为64.84亿美元，同比增长55%，主要由于未实现投资收益大幅增加[391,392] - 总费用增加28%，主要由于绩效分成补偿大幅增加[393] - 其他收益下降82%，主要由于基金投资收益减少[394] - 管理费及咨询费净收入为5.15亿美元，与上年同期基本持平[518] - 实现业绩收入为8.31亿美元，同比增加15%[519] - 实现业绩补偿为4亿美元，同比增加24%[519] - 实现主投收入为2815.4万美元，同比下降39%[519] - 分部可分配收益为9.86亿美元，同比增加2%[519] 资产管理规模 - 公司的总资产管理规模(AUM)包括承诺资本、投资资本公允价值、净资产价值等[368] - 公司的可赚取费用资产管理规模(Fee-Earning AUM)包括承诺资本、剩余投资资本、资产公允价值等,与总AUM有所不同[370] - 公司将永续资本(Perpetual Capital)作为一个重要指标,代表无固定期限、无需在正常业务过程中向投资者返还资本的资产[374] - 公司总资产管理规模从2023年6月30日的1,001,355,959千美元增加至2024年6月30日的1,076,371,811千美元，增加了7.5%[420] - 房地产板块总资产管理规模从2023年6月30日的333,241,514千美元减少至2024年6月30日的336,100,271千美元，减少了0.3%[420] - 股权投资板块总资产管理规模从2023年6月30日的305,277,730千美元增加至2024年6月30日的330,589,586千美元，增加了8.3%[420] - 保险板块总资产管理规模从2023年6月30日的288,410,617千美元增加至2024年6月30日的330,117,204千美元，增加了14.4%[420] - 多资产投资板块总资产管理规模从2023年6月30日的74,426,098千美元增加至2024年6月30日的79,564,750千美元，增加了6.9%[420] - 管理费收益率从2023年6月30日的3%增加至2024年6月30日的3%[420] - 房地产板块管理费收益率从2023年6月30日的2%增加至2024年6月30日的2%[420] - 股权投资板块管理费收益率从2023年6月30日的2%增加至2024年6月30日的5%[420] - 保险板块管理费收益

While growth-focused public companies tend to attract the most attention on Wall Street, safe stocks also present a viable pathway to long-term success. Yes, these ideas might be boring – no, they are boring. We’re talking about entities that like insurance companies, consumer goods, critical services: yes, they’re important but they’re not what you would call sexy.Still, if you keep targeting growth names, chances are quite high that you’ll eventually encounter some serious regrets. It’s just like a footba ...

ryasick I have posted many articles making the case for real estate investment trusts, or REITs (VNQ), over the past year. In short, their share prices had crashed, and their valuations had dropped to the lowest levels in 16 years, with most REITs trading at large discounts relative to the value of the real estate they own. Still today, it is not uncommon to find individual REITs that trade at a 30, 40 or even a 50% discount relative to their net asset values. Such low valuations are truly exceptional f ...

simonkr/E+ via Getty ImagesAres Management Corporation (NYSE:ARES) is the fourth largest US firm with asset management activities as its core business. ARES was founded in 1997, and accumulates a market cap of approximately $45.5 billion, together with trailing revenues of $3.526 billion and a total AUM of $428 billion. On Friday, the firm is set to report Q2 earnings, following a week where leading alternative asset managers will also be reporting. This is the case for Blue Owl Capital (OWL) and Apollo ...

Robert Daly Blackstone (BX) has long been underweight retail, having mostly bought single family rentals, apartments, industrial and data centers. On 7/30/24, Reuters published a report saying Blackstone is in preliminary discussions to acquire Retail Opportunity Investments Corp. (NASDAQ:ROIC). Shopping centers have had increasingly favorable fundamentals, as we wrote about here. It would seem private equity is starting to appreciate the sector. Given that Blackstone and other private equity are dramat ...

USA News Group CommentaryIssued on behalf of Avant Technologies Inc. VANCOUVER, BC, July 30, 2024 /PRNewswire/ -- Large tech companies have ramped up their spending on developing generative artificial intelligence (genAI), banking on big financial returns in the future. According to a report from Goldman Sachs, these tech giants are set to spend over $1 trillion on AI capex in coming years, generating more and more costs along the way. Another major private-equity firm, Blackstone Inc. (NYSE: BX), is bettin ...

Gary Yeowell Thesis Blackstone Mortgage Trust (NYSE:BXMT) is a real estate finance company that originates senior loans collateralized by commercial properties in North America, Europe, and Australia. The REIT is one of the largest in the space, alongside Starwood Property Trust (STWD), and has been hit hard by the current downturn in North American CRE. In this article, we are going to have a closer look at the REIT's latest results and our view on its path forward. BXMT is a type of lending institution, n ...

kmaassrock/E+ via Getty Images Blackstone Inc. (BX) is a giant in the real estate market. We doubt that’s breaking news to most. The company, which currently has a market cap of $173 billion, is the owner of BREIT, its real estate investment vehicle. BREIT is 3x larger than the next five largest non-traded REITs combined! According to the company’s 2Q24 earnings, this investment vehicle has generated a cumulative return of 10% in its largest share class since early 2022 and a return of more than 10% ann ...

These companies offer solid return prospects and above-average yields.The S&P 500 includes world-class companies with solid return prospects, but income investors might be dissatisfied with the index's current average yield of 1.3% -- the lowest in over 20 years.Some of the best companies in the index demonstrate solid business performance while also offering better dividend yields. Here are two such stocks that have what it takes to continue rewarding investors for years to come.1. Coca-ColaCoca-Cola (KO 1 ...