Blackstone (BX) Limits Withdrawals on BREIT Fund - CNBC
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December 2, 2022 7:41 AM EST
BMO Capital analyst Rufus Hone lowered the price target on The Blackstone Group (NYSE: BX) to $90.00 (from $109.00) while maintaining a Market Perform rating BREIT opted to begin limiting redemptions.
The analyst commented, "Yesterday, in response to rising redemption requests, BREIT opted to begin... More
December 1, 2022 12:21 PM EST
Evercore ISI analyst Glenn Shorr reiterated an Outperform rating and $105.00 price target on The Blackstone Group (NYSE: BX)
The analyst comments "Higher Redemption Requests + A Slower Time For Gross Sales. Blackstone released a notice to BREIT shareholders that BREIT redemption requests have picked up and that Blackstone will be repurchasing ~$3bn so far in the quarter (for October and November) and, going forward, Blackstone will stick to the 2% of NAV monthly limit or 5% of NAV quarterly limit repurchases. If you do the math on the current ~$69bn of NAV, that equates to a... More
