Blackstone REIT Files Q3 2024 10-Q
Ticker: BSTT · Form: 10-Q · Filed: Nov 8, 2024 · CIK: 1662972
Sentiment: neutral
Topics: real-estate, REIT, earnings, filing
TL;DR
**BREIT Q3 10-Q FILED: Check financials for Blackstone's REIT.**
AI Summary
Blackstone Real Estate Income Trust, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details the company's financial performance and operations, including its real estate investments and rental income. The company, formerly known as Royal Blue Trust, Inc., is headquartered at 345 Park Avenue, New York, NY 10154.
Why It Matters
This filing provides investors with a detailed look at the financial health and operational status of a major real estate investment trust managed by Blackstone.
Risk Assessment
Risk Level: medium — Real estate investment trusts are subject to market fluctuations, interest rate changes, and property-specific risks.
Key Numbers
- 2024 Q3 — Reporting Period (Indicates the financial quarter covered by the report.)
- 2024-09-30 — Period End Date (Specific date for the end of the reporting period.)
Key Players & Entities
- Blackstone Real Estate Income Trust, Inc. (company) — Filer
- Royal Blue Trust, Inc. (company) — Former company name
- 345 Park Avenue, New York, NY 10154 (location) — Business and Mail Address
- 20240930 (date) — Reporting period end date
FAQ
What is the primary business of Blackstone Real Estate Income Trust, Inc.?
The company is a Real Estate Investment Trust (REIT) as indicated by its Standard Industrial Classification code [6798].
When was the company's name changed?
The company's name was changed from Royal Blue Trust, Inc. on January 6, 2016.
What is the fiscal year end for Blackstone Real Estate Income Trust, Inc.?
The fiscal year end for the company is December 31.
What is the SEC file number for this filing?
The SEC file number is 000-55931.
What is the filing date of this 10-Q?
This 10-Q filing was made on November 8, 2024.
Filing Stats: 4,796 words · 19 min read · ~16 pages · Grade level 20 · Accepted 2024-11-08 16:26:11
Filing Documents
- breit-20240930.htm (10-Q) — 4526KB
- exhibit31_1live.htm (EX-31.1) — 9KB
- exhibit31_2live.htm (EX-31.2) — 9KB
- exhibit32_1live.htm (EX-32.1) — 5KB
- exhibit32_2live.htm (EX-32.2) — 5KB
- exhibit991live.htm (EX-99.1) — 4KB
- breit-20240930_g1.jpg (GRAPHIC) — 63KB
- breit-20240930_g2.jpg (GRAPHIC) — 37KB
- breit-20240930_g3.jpg (GRAPHIC) — 67KB
- breit-20240930_g4.jpg (GRAPHIC) — 52KB
- breit-20240930_g5.jpg (GRAPHIC) — 147KB
- breit-20240930_g6.jpg (GRAPHIC) — 51KB
- breit-20240930_g7.jpg (GRAPHIC) — 61KB
- 0001662972-24-000155.txt ( ) — 20417KB
- breit-20240930.xsd (EX-101.SCH) — 110KB
- breit-20240930_cal.xml (EX-101.CAL) — 159KB
- breit-20240930_def.xml (EX-101.DEF) — 570KB
- breit-20240930_lab.xml (EX-101.LAB) — 923KB
- breit-20240930_pre.xml (EX-101.PRE) — 734KB
- breit-20240930_htm.xml (XML) — 4358KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION 1
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS 1 Condensed Consolidated Financial Statements (Unaudited): Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 1 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 2 Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three and Nine Months Ended September 30, 2024 and 2023 3 Condensed Consolidated Statements of Changes in Equity for the Three and Nine Months Ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements 8
MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 44
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 82
CONTROLS AND PROCEDURES
ITEM 4. CONTROLS AND PROCEDURES 83
OTHER INFORMATION
PART II. OTHER INFORMATION 84
LEGAL PROCEEDINGS
ITEM 1. LEGAL PROCEEDINGS 84
RISK FACTORS
ITEM 1A. RISK FACTORS 84
UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 85
DEFAULTS UPON SENIOR SECURITIES
ITEM 3. DEFAULTS UPON SENIOR SECURITIES 86
MINE SAFETY DISCLOSURES
ITEM 4. MINE SAFETY DISCLOSURES 86
OTHER INFORMATION
ITEM 5. OTHER INFORMATION 87
EXHIBITS
ITEM 6. EXHIBITS 88
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
FINANCIAL STATEMENTS
ITEM 1. FINANCIAL STATEMENTS Blackstone Real Estate Income Trust, Inc. Condensed Consolidated Balance Sheets (Unaudited) (in thousands, except per share data) September 30, 2024 December 31, 2023 Assets Investments in real estate, net $ 84,540,786 $ 91,079,010 Investments in unconsolidated entities (includes $ 4,147,186 and $ 4,221,593 at fair value as of September 30, 2024 and December 31, 2023, respectively) 6,870,295 7,338,329 Investments in real estate debt 5,526,771 6,790,632 Real estate loans held by consolidated securitization vehicles, at fair value 14,286,859 16,331,578 Cash and cash equivalents 1,477,491 1,945,260 Restricted cash 1,025,441 749,760 Other assets 5,865,048 6,563,226 Total assets $ 119,592,691 $ 130,797,795 Liabilities and Equity Mortgage loans, secured term loans, and secured revolving credit facilities, net $ 61,131,406 $ 61,693,678 Secured financings of investments in real estate debt 3,816,383 4,368,269 Senior obligations of consolidated securitization vehicles, at fair value 12,897,316 14,777,146 Unsecured revolving credit facilities and term loans 1,636,923 1,126,923 Due to affiliated entities 772,355 1,033,083 Other liabilities 3,991,268 3,978,665 Total liabilities 84,245,651 86,977,764 Commitments and contingencies — — Redeemable non-controlling interests 174,073 197,537 Equity Common stock — Class S shares, $ 0.01 par value per share, 3,000,000 shares authorized; 1,359,463 and 1,488,197 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 13,595 14,882 Common stock — Class I shares, $ 0.01 par value per share, 6,000,000 shares authorized; 2,172,090 and 2,402,959 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 21,721 24,030 Common stock — Class T shares, $ 0.01 par value per share, 500,000 shares authorized; 46,722 and 59,246 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 467