Is Blackstone a Buy After Its Latest Earnings Report?

Blackstone reported mixed Q3 2026 results with strong AUM growth to $1.4 trillion and $63.3 billion in capital inflows, but distributable earnings fell 9% due to a 34% decline in net realizations. Despite near-term earnings volatility, management expects a significant recovery in Q4 and an outstanding 2027. At $117 per share (down 28.5% from 52-week high), the stock trades at less than 20x earnings and offers potential 15% annualized returns over five years with a 4.4% dividend yield, making it attractive for long-term investors.