5 Best Real Estate and Realty Stocks to Buy According to Hedge Funds

3. Blackstone Inc. (NYSE:BX)

Number of Hedge Fund Holders: 45

Blackstone Inc. (NYSE:BX) is an American alternative investment management company based in New York City. Blackstone’s private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate business has actively acquired commercial real estate.

Craig Siegenthaler, an analyst at BofA, raised the price target on Blackstone Inc. (NYSE:BX) from $98 to $109 on April 21, while maintaining a Buy rating on the shares in light of the Q1 report. Despite the difficult fundraising landscape, especially for real estate debt and credit ventures, the analyst expects Blackstone Inc. (NYSE:BX) to secure over $150 billion in fundraising this year.

According to Insider Monkey’s first quarter database, 45 hedge funds were long Blackstone Inc. (NYSE:BX), compared to 51 funds in Q4 2022. Thomas Steyer’s Farallon Capital is the biggest stakeholder of the company, with 3.2 million shares worth $241 million.

Baron Real Estate Fund made the following comment about Blackstone Inc. (NYSE:BX) in its first quarter 2023 investor letter:

“Blackstone Inc. (NYSE:BX) is the world’s largest alternative asset manager with $1 trillion in assets under management and the largest real estate manager in the world. Blackstone has a premier brand, a global franchise, loyal customers, an exceptional balance sheet, and an excellent management team.

It is currently valued at a modest premium to the S&P 500 Index multiple despite far superior long-term growth prospects. The company’s current dividend yield is 5.2%

We are optimistic about the long-term prospects for Brookfield and Blackstone because we believe both companies are likely to increase market share in a secular growth opportunity for alternative assets…” (Click here to read the full text)