UNLOCK THE POWER OF THE VAULT

Blackstone’s Breit Lagged Public REITs in January. What to Know.

February 21, 2023

Blackstone’s Breit Lagged Public REITs in January. What to Know.

February 21, 2023

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.

≡ Continue Reading