Blackstone (NYSE:BX) has reported its third quarter 2024 results, showing significant growth and success across its business. In the third quarter, Blackstone invested or committed $54 billion, the highest in over two years, and deployed $123 billion in the last twelve months. This represents a substantial increase in investment activity compared to the previous period.
Furthermore, Blackstone experienced the highest amount of overall fund appreciation in three years, indicating strong performance within its investment portfolios. The company also saw over $40 billion of inflows from limited partners, demonstrating a high level of trust and confidence in Blackstone's investment strategies.
Additionally, Blackstone has declared a quarterly dividend of $0.86 per share, showcasing its commitment to returning value to its shareholders. This dividend will be paid on November 4, 2024, to record holders of common stock at the close of business on October 28, 2024.
Blackstone's exceptional performance in the third quarter positions it as a leading firm in the alternatives industry, with strong platforms in high-growth areas. The company's success is evident in its ability to deliver compelling returns for institutional and individual investors, with more than $1.1 trillion in assets under management.
Following these announcements, the company's shares moved 4.6%, and are now trading at a price of $167.13. For more information, read the company's full 8-K submission here.