Recent Buy – Blackstone Group L.P. (BX) $BX

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Happy Monday!

I hope everyone has a great weekend. Mine was fantastic. Mr.W and I went for a walk at the forest park nearby my house on Saturday. And On Sunday we went for a 22-miles bike ride on our biking trail. Since we’ve been building up to this point. I didn’t feel any pain today. Which is great!

We are still using the mountain bikes that we bought for $40/each on 0ur Myrtle Beach vacation a couple of years back off of Craigslist. LOL πŸ™‚ They were 6 x 3 = 18 speeds, at brand new ones would cost $150-200. They are still making noise as the break is brushing on the wheels, but I’m confident now that I can ride 50 miles to the city that the trail is connected to. So, we’re planning on our trip for the Memorial Day Weekend if the weather permits.

Back to Blackstone Group (BX, $BX)

I’m not too fond of L.P. or REITs as they are non-qualified dividend, which is subject to additional taxes. But over the weekend when Donald Trump is in Saudi Arabia, BX announced that Saudi is invested in $20B in infrastructure. BX stock jumped ~6%. I took the plunger and bought 10 shares at $31.xx. With the yield about 6.6%, with will yields ~$20/year in dividend income.

When I look at the dividend history, the company doesn’t have a set dividend payouts are sporadic, similar to the S&P 500 payouts. The reason being the profits of each quarter are different, and they have multiple businesses that bringing in money at separate times.

More on this later.

update: 5/24/17

5/23/17
Credit Suisse Group AG Reiterates Blackstone Group LP (BX) Outperform $42.00 -> $45.00

5/22/17
Citigroup Upgrades Blackstone Group LP (BX) Neutral -> Buy $31.32 -> $40.00

5/23/17
Jefferies Group LLC Reiterates Blackstone Group LP (BX) Buy $35.00 -> $38.00

According to Nasdaq – 9 ratings:

I guess, it’s good to have professional analysts to be optimistic about the stock, but it’d all so be bad, as I see the stock will pullback sometimes this summer after the short sold short, now buying to cover the shorts, then selling again to balance their losses. LOL πŸ™‚ But in longterm, if the stock goes $60, the yields may still hovering around 4-5%, so it might actually be a great longterm stock.

I missed out on HAL after Bush took over office, HAL ended up doubling and splitting. Trump’s family might have some cash in this company after they sold many mega buildings and mansions to Russians Billionaires like how Dick Cheney and George W. Bush with HAL. We’d never know for sure as Trump has refused to disclose his taxes return.

If that’s not the case, I’ll still risk my $31x.xx Β and earning $20/year in dividend. LOL πŸ™‚

Do you buy the news? What do you think about my buy?

 

GA

2 Comments

  1. Always happy to read about new buys even as the market grinds higher. Congrats on the BX pick up. I never really looked at that stock closely but have seen the name pop up among our DGI peers. That juicy current yield will be a nice addition to your snowball. Thanks for sharing.

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