NEW YORK, Jan 8, 2026, 05:11 EST — Premarket
- Blackstone shares were flat at $153.59 in premarket trading, after a 5.6% drop on Wednesday.
- The slide followed President Donald Trump’s pledge to ban large institutional investors from buying more single-family homes.
- Investors are watching U.S. jobs data on Friday and Blackstone’s quarterly results later this month.
Blackstone Inc shares held steady before the open on Thursday, after a sharp selloff tied to fresh political risk around institutional home buying. The stock last traded at $153.59, unchanged from Wednesday’s close after it fell as low as $147.52 in the session.
Why it matters now: the housing headline hit a corner of the market that had been leaning on lower-rate hopes and a calmer U.S. economy. Blackstone and Apollo Global Management slid more than 5% on Wednesday, weighing on the S&P 500 financials sector.
Trump said his administration was moving to ban Wall Street firms from buying single-family homes and would ask Congress to codify it, though he did not spell out how such a ban would work. “Resident experience is hurting as a result,” said Jeff Holzmann, chief operating officer at RREAF Holdings, a Dallas-based real estate investment firm. Reuters
A 2024 Government Accountability Office report found institutional investors expanded after the 2007-2009 financial crisis, buying foreclosed homes and converting them to rentals, but said data limits make it hard to pin down their effects on tenants and homeownership. The GAO reviewed studies that found investor activity may have lifted rents and prices in some markets.
Blackstone pushed back publicly, saying its ownership of U.S. single-family homes is a small slice of its real estate business and an even smaller part of the overall firm, and that it has been a net seller of homes over the last decade.
The political noise lands ahead of Blackstone’s fourth-quarter and full-year 2025 investor call, scheduled for Jan. 29 at 9:00 a.m. ET. Assets under management — the money it manages for clients — topped $1.2 trillion, the company said in that announcement.
Wall Street will also sift Blackstone’s fee-related earnings, a key measure of recurring management fees stripped of more volatile investment gains. Zacks expects Blackstone to report earnings of $1.52 per share for the quarter.
But the market is still guessing how much of Trump’s plan becomes policy, and how fast. The Associated Press cited an American Enterprise Institute analysis that put institutional investors at about 1% of total single-family housing stock, a reminder that housing supply — not just ownership — drives prices.
