Blackstone Group LP (NYSE:BX) is one of the market’s rare winners this year, with a modest 0.3% return since Jan. 1. On top of that, Blackstone stock’s total return is even more attractive when you factor in its juicy 8.2% dividend yield. So what makes BX stock such a strong bet? If you’re unfamiliar, the Blackstone Group is a global asset management company. In addition to offering mutual funds and hedge fund services, BX has a very successful private-equity arm that snaps up value plays and squeezes cash out of them at a steady rate.
Some of the investments in the Blackstone portfolio include a stake in footwear company Crocs (CROX) and a big part of natural gas master limited partnership Cheniere Energy (LNG). Most recently, Blackstone made a major acquisition of BioMed Realty Trust (BMR), a company specializing in laboratory and medical office space, for over $4.8 billion. So when you add up the big dividend and the big deal-making potential, it seems that Blackstone is one of the safest bets out there for long-term investors.
Source: InvestorPlace
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