What's Going On With Blackstone Shares Premarket Wednesday?
Portfolio Pulse from Lekha Gupta
Blackstone Inc. (NYSE:BX) shares are trading higher premarket as the company is reportedly in early talks to acquire Retail Opportunity Investments Corp. (NASDAQ:ROIC). ROIC's shares have dropped 10% over the past year, and Blackstone sees value in its properties. No deal is guaranteed, and other bidders may emerge. ROIC owns 95 shopping centers and recently reported a slight decline in FFO for Q2 2024. Blackstone also extended an all-cash tender offer for Terrafina's real estate trust certificates. BX reported strong Q2 2024 adjusted revenues but missed on distributable earnings per share. BX stock has gained around 35% in the last 12 months.
July 31, 2024 | 10:39 am
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Blackstone Inc. (NYSE:BX) shares are trading higher premarket due to reports of early talks to acquire Retail Opportunity Investments Corp. (NASDAQ:ROIC). The company also extended an all-cash tender offer for Terrafina's real estate trust certificates and reported strong Q2 2024 adjusted revenues but missed on distributable earnings per share.
The news of a potential acquisition and strong adjusted revenues are positive indicators for Blackstone's stock. The market is reacting favorably premarket, suggesting a likely short-term price increase.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
EA Series Trust WHITEWOLF Publicly Listed Private Equity ETF (BATS:LBO) provides exposure to Blackstone Inc. (NYSE:BX), which is seeing positive premarket movement due to acquisition talks and strong adjusted revenues.
LBO ETF's exposure to Blackstone, which is experiencing positive news, could lead to a short-term increase in the ETF's value.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Invesco Global Listed Private Equity ETF (NYSE:PSP) provides exposure to Blackstone Inc. (NYSE:BX), which is seeing positive premarket movement due to acquisition talks and strong adjusted revenues.
PSP ETF's exposure to Blackstone, which is experiencing positive news, could lead to a short-term increase in the ETF's value.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Retail Opportunity Investments Corp. (NASDAQ:ROIC) shares closed 20.7% higher on Tuesday following reports of Blackstone's interest in acquiring the company. ROIC's shares had dropped 10% over the past year, and the potential acquisition has sparked investor interest.
The potential acquisition by Blackstone has significantly boosted investor confidence in ROIC, leading to a sharp increase in its stock price. This positive sentiment is likely to continue in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100