Filing Flows › Blackstone Real Estate Income Trust (BSTT) › Q2 2026 › vs Q1 2026
Blackstone Real Estate Income Trust (BSTT) Q2 2026 vs Q1 2026 (quarter over quarter)
Blackstone Real Estate Income Trust's revenue fell $77.0M (-4%) from $1.9B in Q1 2026 to $1.9B in Q2 2026. The biggest changes: Rental Housing Properties: −$55.3M (-5%); Industrial −$17.8M (-6%); Self Storage −$9.6M (-51%).
Blackstone Real Estate Income Trust, Q2 2026: revenue $1.9B (-7% year over year), operating margin 60.0%, net loss $466M, operating cash flow $740M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Free cash flow margin | 24.1% | 10.5% | +13.7 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Rental Housing Properties: | $1.1B | $1.2B | −$55.3M | -5% |
| Industrial | $302M | $320M | −$17.8M | -6% |
| Net Lease | $152M | $152M | −$143K | -0.1% |
| Hospitality | $145M | $136M | $9.3M | +7% |
| Retail | $49.9M | $52.4M | −$2.4M | -5% |
| Office | $43.1M | $43.9M | −$804K | -2% |
| Data Centers | $15.6M | $15.8M | −$232K | -1% |
| Self Storage | $9.1M | $18.7M | −$9.6M | -51% |
| Revenue | $1.9B | $1.9B | −$77.0M | -4% |
| Net loss | $466M | $386M | $80.7M | +21% |
| Costs & expenses | $2.3B | $2.3B | $3.6M | +0.2% |
| Operating costs | $744M | $838M | −$94.1M | -11% |
| Interest & other, net | $1.6B | $1.5B | $97.7M | +7% |
| General & admin | $18.1M | $14.4M | $3.7M | +25% |
| Other operating costs | $726M | $824M | −$97.8M | -12% |
| Operating cash sources | $1.2B | $859M | $347M | +40% |
| Depreciation & amortization | $743M | $760M | −$18.0M | -2% |
| Working capital & other | $464M | $98.8M | $365M | +369% |
| Net loss absorbed | $466M | $386M | $80.7M | +21% |
| Operating cash flow | $740M | $474M | $266M | +56% |
| Free cash flow (OCF − capex) | $449M | $203M | $246M | +121% |
| Capital expenditures | $291M | $271M | $20.2M | +7% |
Questions
How much did Blackstone Real Estate Income Trust's revenue grow quarter over quarter in Q2 2026?
Blackstone Real Estate Income Trust's revenue fell $77.0M (-4%) from $1.9B in Q1 2026 to $1.9B in Q2 2026.
What drove Blackstone Real Estate Income Trust's revenue change in Q2 2026?
Rental Housing Properties: −$55.3M (-5%); Industrial −$17.8M (-6%); Self Storage −$9.6M (-51%).