Filing Flows › Blackstone Real Estate Income Trust (BSTT) › Q3 2026
Blackstone Real Estate Income Trust (BSTT) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 6, 2026
Blackstone Real Estate Income Trust (BSTT) reported revenue of $1.8B for the third quarter 2026 (Q3 2026), -8% from a year earlier and -4% from the quarter before. Operating margin was 81.8%, net loss $296M (16.5% of revenue).
Blackstone Real Estate Income Trust, Q3 2026: revenue $1.8B (-8% year over year), operating margin 81.8%, net loss $296M, operating cash flow $553M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.8B | -4% | -8% |
| Operating profit | $1.5B | +31% | +41% |
| Net earnings | −$296M | — | — |
| Operating cash flow | $553M | -25% | +2% |
| Free cash flow | $216M | -52% | +7% |
What changed
Revenue was $1.8B in Q3 2026, down 8% year over year and down 4% from the previous quarter. Rental Housing Property was the largest line at 61% of revenue. Rental Housing Property lost $0.12B year over year (down 10%), 81% of the total change.
Operating profit was $1.5B, a 81.8% margin (up 28.4 points year over year). Total costs fell 64% while revenue fell 8%. The quarter ended with a net loss of $0.30B, narrower than the previous quarter's $0.47B loss. Minority interests bore $0.14B of it: to shareholders the quarter was a loss of $0.16B. Net interest and other expense of $1.8B was the main reason.
Operating cash flow was $0.55B (up 2% year over year). Non-cash charges added back $0.72B of depreciation and amortization. Working capital and other items added $0.13B. Capital expenditures of $0.34B left free cash flow of $0.22B.
Questions
What was Blackstone Real Estate Income Trust's revenue in the third quarter 2026?
Blackstone Real Estate Income Trust (BSTT) reported revenue of $1.8B for the third quarter 2026 (Q3 2026), -8% from a year earlier and -4% from the quarter before.
Was Blackstone Real Estate Income Trust profitable in the third quarter 2026?
Operating profit was $1.5B (81.8% of revenue) and net loss $296M.
Source: Blackstone Real Estate Income Trust 10-Q on SEC EDGAR.