Blackstone (NYSE:BX) Releases Quarterly Earnings Results, Beats Estimates By $0.21 EPS

Blackstone (NYSE:BX) posted its quarterly earnings data on Thursday. The asset manager reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.21, FiscalAI reports. Blackstone had a net margin of 20.56% and a return on equity of 22.30%. The company had revenue of $4.36 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter last year, the firm posted $1.69 EPS. The business’s revenue for the quarter was up 41.4% on a year-over-year basis.

Here are the key takeaways from Blackstone’s conference call:

• Blackstone reported record results with Q4 distributable earnings of $1.75 per share and full-year DE of $5.57 per share ( ~$7.1B), while AUM rose to about $1.275 trillion.
• Fundraising and inflows were very strong — roughly $71B in Q4 and ~$240B for 2025, with private wealth up 53% to $43B — bolstering fee-generating AUM and future revenue.
• Investment performance and deployment accelerated: the firm invested $138B in 2025, infrastructure returned ~24% for the year, BXMA returned ~13%, and Blackstone holds ~ $200B of dry powder to deploy into AI, data centers, electrification and other thematic opportunities.
• Capital markets and realization momentum picked up — IPO and M&A activity accelerated (highlighted by the successful Medline IPO), net realizations rose 59% YoY in Q4 to $957M, and the firm sees a deep IPO pipeline that should support future monetizations.
• Real estate remains the laggard — aggregate private real estate values are still down vs. the S&P (about 16% since the rate cycle began) with limited appreciation in 2025 and pockets of weakness (e.g., life-sciences office, U.K. student housing) that could constrain near-term returns.

Blackstone Stock Performance

Shares of BX opened at $140.73 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a 50-day moving average of $153.03 and a 200-day moving average of $160.96. The company has a market cap of $103.92 billion, a PE ratio of 40.21, a price-to-earnings-growth ratio of 1.03 and a beta of 1.75. Blackstone has a one year low of $115.66 and a one year high of $190.09.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Monday, February 9th will be paid a $1.49 dividend. This is an increase from Blackstone’s previous quarterly dividend of $1.29. This represents a $5.96 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Monday, February 9th. Blackstone’s dividend payout ratio is 147.43%.

Key Headlines Impacting Blackstone

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Q4 results beat expectations — EPS $1.75 vs. $1.54 expected and revenue $4.36B vs. $3.69B; management reported record distributable earnings, AUM of ~$1.27T and heavy inflows, which support fee growth and performance earnings. Blackstone beats estimates on strong dealmaking activity
• Positive Sentiment: Dividend raised — BX declared a quarterly dividend of $1.49 (15.5% increase vs. prior $1.29), implying a ~4.2% yield and supporting income?oriented demand for the stock (record/ex?dividend dates noted by the company).
• Positive Sentiment: Business mix showing momentum — management highlighted rebound in private equity and real estate plus growth in data?center and infrastructure investments, which drove higher fees and helped beat profit forecasts. Blackstone’s Private Equity and Real Estate Are Bouncing Back
• Neutral Sentiment: Macro/strategy commentary — Blackstone executives called AI development a key U.S. growth driver; positive long?term for infrastructure and data center demand but not an immediate earnings catalyst. AI development is biggest economic growth driver, Blackstone says
• Neutral Sentiment: Investor access/visibility — CFO Michael Chae will present at the BofA Financial Services Conference on Feb. 10 (webcast available), which may provide additional detail but is routine. Blackstone to Present at the Bank of America Securities Financial Services Conference 2026
• Negative Sentiment: Analyst price?target tweak — HSBC trimmed its BX price target slightly (from $178 to $174) and kept a “hold” rating; this is a modest headwind for sentiment but the target still implies upside vs. current levels. HSBC adjusts price target on Blackstone

Analyst Upgrades and Downgrades

BX has been the topic of several recent research reports. Morgan Stanley raised their price objective on shares of Blackstone from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. BMO Capital Markets dropped their target price on Blackstone from $190.00 to $180.00 and set an “outperform” rating for the company in a report on Monday, October 27th. TD Cowen dropped their target price on shares of Blackstone from $205.00 to $183.00 and set a “buy” rating for the company in a research report on Wednesday, January 14th. UBS Group dropped their price objective on shares of Blackstone from $175.00 to $172.00 and set a “neutral” rating for the company in a report on Tuesday, January 13th. Finally, Jefferies Financial Group dropped their price objective on Blackstone from $187.00 to $185.00 and set a “buy” rating for the company in a report on Thursday, January 8th. Ten analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $177.38.

Insider Activity

In other Blackstone news, Director James Breyer bought 13,900 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was bought at an average cost of $143.86 per share, with a total value of $1,999,654.00. Following the completion of the transaction, the director directly owned 68,906 shares in the company, valued at approximately $9,912,817.16. The trade was a 25.27% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ruth Porat purchased 324 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was bought at an average cost of $146.92 per share, with a total value of $47,602.08. Following the completion of the transaction, the director directly owned 39,077 shares in the company, valued at $5,741,192.84. The trade was a 0.84% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders acquired 783,978 shares of company stock valued at $22,058,454. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Blackstone

A number of large investors have recently made changes to their positions in BX. Redwood Financial Network Corp grew its position in Blackstone by 1.8% during the second quarter. Redwood Financial Network Corp now owns 3,588 shares of the asset manager’s stock worth $537,000 after buying an additional 65 shares in the last quarter. Zacks Investment Management lifted its position in Blackstone by 2.1% in the 3rd quarter. Zacks Investment Management now owns 3,453 shares of the asset manager’s stock valued at $590,000 after acquiring an additional 71 shares in the last quarter. Brogan Financial Inc. grew its stake in shares of Blackstone by 2.5% in the third quarter. Brogan Financial Inc. now owns 2,904 shares of the asset manager’s stock worth $496,000 after acquiring an additional 72 shares during the period. 44 Wealth Management LLC grew its position in Blackstone by 7.1% during the second quarter. 44 Wealth Management LLC now owns 2,174 shares of the asset manager’s stock valued at $325,000 after buying an additional 144 shares during the period. Finally, Financial Engines Advisors L.L.C. increased its holdings in Blackstone by 3.6% in the 3rd quarter. Financial Engines Advisors L.L.C. now owns 4,292 shares of the asset manager’s stock worth $733,000 after acquiring an additional 150 shares in the last quarter. 70.00% of the stock is owned by institutional investors.

About Blackstone

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.