Blackstone’s Breit Lagged Public REITs in January. What to Know.
February 17, 2023 | Andrew Bary | Barron’s
Blackstone Real Estate Income Trust, known as Breit, had a negative return of 0.2% in January, badly lagging publicly traded real estate investment trusts, which showed gains of about 10% in the month.
This marks a change from the situation in 2022 when the $71 billion Blackstone Real Estate Income Trust was up 8.4% based on its largest share class, while comparable public REITs in the apartment and warehouse sector were down around 30%
The January performance supports the argument that Breit was overvalued relative to public-market peers. Breit reports its performance monthly and the January figures were reported recently. BREIT had negative returns of 0.7% in the fourth quarter.
