So, Blackstone Inc. (BX) is making a big exit in Spain. The private equity giant has agreed to sell its entire Fidere residential rental portfolio to Brookfield Asset Management Inc. (BAM) for a cool 1.2 billion euros, which works out to about $1.4 billion. That's the headline number, but the net transaction value is reportedly 1.05 billion euros, according to Reuters.
What's changing hands? About 5,000 rental units spread across 47 buildings in Madrid. Blackstone itself is calling this the largest multifamily transaction in Spain since the 2007–2009 financial crisis, if you exclude its own acquisition of Testa Homes. It's a significant chunk of the Spanish rental market finding a new owner.
This isn't the only big-ticket item on Blackstone's recent activity list. Just last week, a consortium that included Blackstone, along with Bolt Ventures, the Aditya Birla Group, and The Times of India Group, agreed to acquire the Royal Challengers Bengaluru (RCB) cricket franchise. The price tag? Around $1.78 billion.
According to Blackstone, this fits into a broader strategy of investing in high-growth sports franchises. For context, the Royal Challengers Bengaluru is a bit of a trophy asset, holding both the Indian Premier League (IPL) and Women's Premier League (WPL) titles simultaneously—a first in the league's history.
Alright, let's talk about the stock. Blackstone shares were up 2.87% at $114.80 at the time of the report. Digging into the technicals, the picture is a bit of a mixed bag. The stock is trading 2.6% above its 20-day simple moving average (SMA), which is a short-term positive. However, it remains 17.9% below its 100-day SMA, which keeps the longer-term trend pointed downward despite the recent bounce.
Over the past 12 months, shares are down 19.27%, and they're sitting closer to the 52-week low of $101.73 than the high of $190.09. The Relative Strength Index (RSI) is at 44.30, sitting in neutral territory. This suggests sellers aren't exhausted, but buyers haven't exactly taken control either.
The MACD (Moving Average Convergence Divergence) is showing some improvement. The MACD line is at -3.9035, which is above the signal line at -5.0805. The positive histogram reading of 1.1770 supports the idea that the downside momentum is easing. So, you have an RSI in the 30–50 range paired with a bullish MACD setup, indicating momentum is leaning bullish in the near term. But the stock still needs follow-through buying to repair the longer-term trend damage that followed a "death cross" back in December.
Key technical levels to watch are resistance at $116.00 and support at $105.00.
Looking ahead, the next major earnings catalyst is estimated for April 16, 2026. Expectations are for an EPS of $1.39 (up from $1.09 year-over-year) and revenue of $3.45 billion (up from $2.76 billion YoY). The stock carries a valuation with a P/E of 28.8x, which indicates a premium valuation relative to its peers.
The analyst consensus on Blackstone is a Buy rating, with an average price target of $166.20. Recent analyst actions, however, have involved some target price reductions:
- BMO Capital: Outperform rating, but lowered target to $126.00 (March 24)
- JP Morgan: Neutral rating, lowered target to $122.00 (March 3)
- Barclays: Equal-Weight rating, lowered target to $126.00 (March 2)
When you break down the stock's profile, it reveals an interesting tension. On one hand, its momentum score is weak, which makes sense given the longer-term drawdown. On the other hand, it scores strongly on quality and growth factors. This suggests the underlying business fundamentals and earnings power story are still considered solid, even if the stock's price trend hasn't caught up yet. For longer-term investors, this often sets up a "fundamentals are okay, but the trend isn't fixed yet" situation. The key will be watching if the price can reclaim that key resistance level to confirm the improving momentum signal from the MACD.
It's also worth noting where Blackstone sits in the ETF world, as this can create automatic buying or selling pressure. The stock carries significant weight in a few funds:
- SPDR S&P Capital Markets ETF (KCE): 1.85% weight
- Invesco Global Listed Private Equity ETF (PSP): 3.84% weight
- TBG Dividend Focus ETF (TBG): 3.78% weight
Because of these hefty allocations, any significant inflows or outflows for these ETFs will likely force fund managers to automatically buy or sell Blackstone shares to match the index.
.jpeg)
