As for the stocks, analyst Michael Cyprys argues that Blackstone “should trade at a wide premium to Alternatives given its better mix of product to drive higher and sustainable cash earnings and it should narrow the gap with traditional managers as it demonstrates the resiliency of its performance fee earnings.
Blackstone Said to Seek $1.5 Billion for Boston Buildings
by Hui-Yong Yu
June 3, 2015 — 9:16 AM PDT
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Blackstone Group LP is seeking about $1.5 billion for two Boston office buildings acquired in the 2007 buyout of Equity Office Properties Trust, said two people with knowledge of the marketing.
The buildings, at 500 Boylston St. and 222 Berkeley St., occupy the same block and share a garage. The Boylston tower has 758,320 square feet (70,448 square meters), and the other property has 553,321 square feet, according to Equity Office’s website. The marketing began this week, said the people, who asked not to be identified because the effort is private.
Christine Anderson, a Blackstone spokeswoman, declined to comment on the plans, which were reported late Tuesday by newsletter Real Estate Alert.
Blackstone has said it’s likely to seek buyers by the end of the year for the roughly 10 million square feet of buildings it still holds from the Equity Office purchase. The company has been selling assets amid a recovery in office occupancies and demand for prime real estate in coastal markets. Before being taken over, Equity Office owned stakes in 543 buildings with 103.1 million square feet.
In April, Blackstone sold 26 Northern California properties with 8.2 million square feet along with two development parcels to Hudson Pacific Properties Inc. The price was $1.75 billion in cash and about 63.5 million Hudson Pacific shares currently valued at more than $1.9 billion.
Sentiment: Strong Buy
Blackstone’s Big Dividend Is “Money Good”
Blackstone Group shareholders should take comfort in the company's growing stockpile of accrued performance fees.
When it comes to partnerships, investors learn to love them for the distributions -- the dividend. But the distributions paid by private equity companies tend to be lumpier. After all, Blackstone Group's (NYSE:BX) routine management fees mostly keep the lights on; less-predictable performance fees are the icing on the cake that sends it into profitability.
But "lumpy" may mischaracterize Blackstone's future payouts. The company ended the latest quarter with $4.9 billion of "net accrued performance fees," equal to $4.17 per share.
Its executives like to think of its accrued performance fees as a sort of receivable; when Blackstone realizes profits earned for its fund investors, it'll pay that sum back out to its shareholders. As for timing, realizing these profits is at Blackstone's discretion, though it has to act as a fiduciary to its clients and work to maximize their profits first and foremost.
Blackstone Accrued Performance Fees
What's driving its profitability
Regardless of where an investor might think we are in the economic cycle, it's clear that valuations are up across the board. The net result is that Blackstone is accruing more and more performance fees, which will eventually be returned to shareholders as it exits investments and books gains for its clients.
On its most recent conference call, Blackstone CFO Laurence Tosi noted that $151 billion of the company's assets under management are currently earning performance fees, an increase of 30% over the prior year. One would hope and expect this to only continue growing. Tosi called this a valuable "compounding effect" that is inherent in the fee-driven business of managing other peoples' money.
When Blackstone reports earnings on Thursday, the good news should continue after a stellar first quarter kicking off 2015. Blackstone was busy fundraising for another mega fund this quarter, gathering a reported $17 billion for BCP VII, one of the largest private equity funds raised since the financial crisis. This follows a beastly $15.8 billion raised for its real estate funds in the first quarter, some of which was almost immediately deployed in a $14 billion deal for some of General Electric's real estate assets.
And although quarterly performance means little in the grand scheme of things, it's hard not to be upbeat about Blackstone's recent fundraising trends and its ability to collect fee-earning assets under management. It's rapidly replacing capital to build new funds as older funds wind down.
As merger and acquisition activity heats up in the public markets, one suspects that Blackstone's older "inventory" of smaller privately held assets might soon lead to big realizations and beefier distributions as time goes on. With $4.17 per share in the kitty in the form of accrued fees, the next few quarters could be particularly lucrative for its investors.
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gave holdings of 5,781,312 shares or 24.6%....with options etc. 8,789,672 shares or 33.1%...it showson May 29. 2015 Holdings sold 216,439 shares on the open market...that day 492,000 shares traded with a close at 3.14, down .09 for the day...
13:35 EDT - Blackstone (BX) lapped most of its rivals in cashing out of older investments this quarter, which Credit Suisse estimates should help the firm top dividend expectations. The investment bank thinks BX--which sold blocks of shares in Pinnacle (PF), Hilton (HLT), Nielsen (NLSN) and Catalent(CTLT) --raised more than $6.5B this quarter selling assets. That's more than $1B less than BX harvested during 1Q, when the firm paid out its highest-ever quarterly dividend of 89c/share. But the quirks of private-equity-fund accounting should put more of this quarter's sales proceeds in shareholder's pockets, predicts Credit Suisse.
Sentiment: Strong Buy
as others know here, long time investor..was a stock broker with E..F. Hutton after being a rocket engineer with Rocketdyne after college UVA.....Dont need to be a PT :).. here are my trades :)...but not dumb enough to trade....9/23/2012 at 14.56, 9/30/2012 at 14.27. 6/5/2103 at $21.42, 6/7/2013 at 21.28, finally 4/4/2014 at $29.20 , 4/30/2014 at $28.03... 3,000 shares in total and not including great payouts!!!!!..... Didnt need a PT to tell me what to do.. Been around a long time and the traders never tell you of all their BAD CALLS....my advise..put them on IGNORE.....like I do... as noted I did sell 500 BX at 39.50 or so before the runup to new highs as I am prudent and was way over weighted with BX..as I have liked this stock a lot
Symbol Last Price Change
BX 43.78 +0.44 (+1.02%)
QUOTES AS OF 09:57:25 AM ET 06/03/2015
09:25 AM EDT, 06/03/2015 (MT Newswires) -- The Blackstone Group L.P(BX) shares were initiated by Piper Jaffray with an overweight rating and $50 price target.
Price: 43.77, Change: +0.43, Percent Change: +0.99
Sentiment: Strong Buy
if you have nothing positive to contribute... you waste others time...
The Blackstone Group L.P. Analyst Rating Update
By David Cooper - Jun 9, 2015 779 0
The Blackstone Group L.P. (NYSE:BX): 5 analysts have rated the shares as a strong buy. The Company shares has received a rating of Buy from 8 Wall Street Analysts. 1 analysts have rated Hold. The Blackstone Group L.P. shares have received a Mean Price Target of $48.47. According to the rating issued from 15 Wall Street Analysts, the High Price Target is seen at $54 while the Lower end of the Price Target is seen at $45. The Median Price Target is calculated at $48.
Many Wall Street Brokerage firms have commented on company shares. Piper Jaffray initiates coverage on The Blackstone Group L.P. (NYSE:BX) . The global brokerage major announces a current price target of $50 per share. Analysts at the Piper Jaffray have a current rating of Overweight on the shares.
The Blackstone Group L.P. (NYSE:BX) witnessed a decline in the market cap on Monday as its shares dropped 1.18% or 0.5 points. After the session commenced at $42.4, the stock reached the higher end at $42.5895 while it hit a low of $41.65. With the volume soaring to 4,877,746 shares, the last trade was called at $41.9. The company has a 52-week high of $44.43. The company has a market cap of $22,974 million and there are 548,301,000 shares in outstanding. The 52-week low of the share price is $26.56. According to the SEC Form-4 filing, the Company has disclosed other insider buying and selling activities,The officer (Chief Legal Officer) of Blackstone Group L.P., Finley John G sold 12,000 shares at $42.18 on April 29, 2015. The Insider selling transaction had a total value worth of $506,160. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
12, 2015 FUNDRAISING
Committed: Calpers Deepens Multibillion-Dollar Ties With Blackstone
CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM
By DAWN LIM
The California Public Employees’ Retirement System topped up the war chest of Blackstone Group 'sBX +0.19% Tactical Opportunities team with another $500 million, deepening its multibillion-dollar footprint with the New York firm.
The nation’s largest public pension fund has been laying the groundwork to pledge larger checks to a handful of firms while cutting its total number of managers. In concentrating large amounts of capital with a few managers, limited partners are funneling more money to the biggest alternatives firms equipped to invest across a range of strategies.
Calpers’s latest commitment to Blackstone will be managed in an account customized for the $300 billion-plus pension fund, giving it a bigger voice in shaping the portfolio. This will bring Calpers’s pledges to Blackstone’s Tactical Opportunities platform to about $1.4 billion since 2012, a pension fund spokesman said. Calpers disclosed the pledge this week in an investment report.
This latest mandate from Calpers is a coup for Blackstone as the buyout shop-turned-alternatives firm looks to lock in more captive capital. Calpers’s latest pledge gives the Tactical Opportunities group, which cycles between various strategies and styles, extra firepower to bid for fast-moving deals.
Since the late 1990s, Calpers had committed more than $3.5 billion to active Blackstone partnerships as of Sept. 30.
The Wall Street Journal reported earlier this week that Calpers plans to slash the number of firms that manage its money to reduce costs and ease staffing burdens , which would potentially free up more capital for its key relationships. A spokesman said the pension fund hasn’t officially embarked on the cuts yet.
Blackstone has been successful in winning hefty mandates from public investors because it has cultivated the image that it can deliver returns even as it gets bigger, challenging the notion that returns suffer as a firm’s asset base grows and it is pressured to put more dry powder to work. This has helped shape the view that private equity can be a scalable business, said an investment official at another public fund with a sizable Blackstone exposure.
Sentiment: Strong Buy
Intellipharmaceutics Updates Status of Tentative Approvals of Generic Focalin XR(R)
Intellipharmaceutics International Inc.
1 hour ago
IntelliPharmaCeutics Internati … Watchlist
Why IntelliPharmaCeutics Just Had A Big Tuesday Benzinga 1 mth 13 days ago
IntelliPharmaCeutics International (IPCI) in Focus: Stock Jumps 5.4% - Tale of the Tape Zacks 1 mth 13 days ago
TORONTO, July 8, 2015 (GLOBE NEWSWIRE) -- Intellipharmaceutics International Inc. (IPCI) (TSX:I) ("Intellipharmaceutics" or the "Company"), a pharmaceutical company specializing in the research, development and manufacture of novel and generic controlled-release and targeted-release oral solid dosage drugs, today advised that the United States Food and Drug Administration ("FDA") has indicated to the Company that it has rescinded its previous requirement that the Company meet newly-imposed conditions for bioequivalence prior to receiving final approval for the Company's tentatively-approved strengths of its generic Focalin XR(R) (dexmethylphenidate hydrochloride extended-release) capsules (the "Product"). The strengths affected include 5 mg, 10 mg, 20 mg and 40 mg. The already-approved 15 mg and 30 mg strengths now in the market are not affected.
The FDA, in November 2013, had previously granted the Company tentative approvals for the 5 mg, 10 mg, 20 mg, and 40 mg strengths of its generic Focalin XR(R). Subsequently, the Company announced in a press release dated June 18, 2015, that the FDA had indicated that the Company would be required to meet newly-imposed guidelines before the affected strengths of the Product could receive final approval. The FDA has now rescinded that requirement.
The Company is not aware of any further action required of it in respect of its Abbreviated New Drug Application ("ANDA") for the Product. The Company is therefore hopeful that the FDA will shortly grant final approval for the 5 mg strength of the Product which is not subject to the six months of market exclusivity accorded to the first-filer of an ANDA. There can be no assurance that such final approval will be granted within a short time, or at all, or that further conditions will not be imposed for that strength or any of the other tentatively approved strengths.
Sentiment: Strong Buy
feel sorry for you guys with nothing else to do but argue with each other...clogging the board with nonsense. hopeless people here..cant control themselves.. sad to see what friends you have.. ciao bambinos
The Blackstone Group L.P.’s Hold Rating Reaffirmed at Standpoint Research (BX)
Posted by Stephan Byrd on Aug 9th, 2015 // No Comments
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The Blackstone Group L.P. logoThe Blackstone Group L.P. (NYSE:BX)‘s stock had its “hold” rating reissued by equities research analysts at Standpoint Research in a note issued to investors on Sunday, MarketBeat Ratings reports. They presently have a $48.00 target price on the stock. Standpoint Research’s price target indicates a potential upside of 26.88% from the company’s previous close.
The Blackstone Group L.P. (NYSE:BX) opened at 37.83 on Friday. The Blackstone Group L.P. has a one year low of $26.56 and a one year high of $44.43. The firm has a market cap of $22.98 billion and a PE ratio of 15.14. The stock has a 50 day moving average of $40.28 and a 200 day moving average of $39.93.
The Blackstone Group L.P. (NYSE:BX) last released its quarterly earnings data on Thursday, July 16th. The company reported $0.43 EPS for the quarter, missing the analysts’ consensus estimate of $0.44 by $0.01. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.31 billion. The business’s quarterly revenue was down 46.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.15 earnings per share. On average, equities analysts forecast that The Blackstone Group L.P. will post $3.54 earnings per share for the current year.
11:16 EDT - After 2 years of watching from the sidelines, FBR turns bullish on Sprint(S) as it backs majority owner Softbank's (9984.TO) "high-risk, high-return plan" to turn the struggling wireless operator around. The firms will create a leasing entity to "finance network installation, equipment and handset devices leased by customers on better terms" than S can itself, the investment bank notes. The effort could allow the company to create "a robust indoor- and outdoor-based network that leverages massive amounts of unlicensed capacity spectrum." FBR also notes the likelihood of anticipated further cost cuts as it sets a $6 price target on the stock. After skidding 9.7% yesterday, S rises 4% this morning to $3.28.
1:22 pm Vivint Solar announces plans to collaborate with Blackstone (BX) to provide solar energy to Blackstone's portfolio of commercial and industrial properties (VSLR) : Co recently closed its first solar commercial and industrial investment fund that will enable the company to expand its solar energy offerings to commercial and industrial businesses across the U.S. Blackstone (BX) currently maintains in its portfolio, an assortment of commercial and industrial properties.
Sentiment: Strong Buy