Filing Flows › Blackstone Real Estate Income Trust (BSTT) › How it makes money
How Blackstone Real Estate Income Trust (BSTT) makes money
Blackstone Real Estate Income Trust (BSTT) made $1.8B of revenue in the third quarter 2026 (Q3 2026), -7% from a year earlier. Rental Housing Property brought in $1.1B (61%); Industrial brought in $305M (17%); Net Lease brought in $152M (8%).
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Rental Housing Property | $1.1B | 60.9% | -5% | -10% |
| Industrial | $305M | 17.0% | +1% | -6% |
| Net Lease | $152M | 8.5% | +0.1% | +1% |
| Hospitality | $133M | 7.4% | -9% | +8% |
| Retail | $51.2M | 2.9% | +3% | -0.2% |
| Office | $41.6M | 2.3% | -3% | -13% |
| Data Centers | $17.9M | 1.0% | +15% | +35% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $1.8B | 100.0% |
| Operating cash flow | $553M | 30.9% |
| Free cash flow | $216M | 12.0% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $1.8B | -8% |
| Q2 2026 | $1.9B | -7% |
| Q1 2026 | $1.9B | -6% |
| Q4 2025 | $2.0B | -6% |
| Q3 2025 | $1.9B | -7% |
| Q2 2025 | $2.0B | -7% |
| Q1 2025 | $2.1B | -6% |
From Blackstone Real Estate Income Trust's 10-Q filed Nov 6, 2026 (on EDGAR).
Questions
How does Blackstone Real Estate Income Trust make money?
Blackstone Real Estate Income Trust (BSTT) made $1.8B of revenue in the third quarter 2026 (Q3 2026), -7% from a year earlier. Rental Housing Property brought in $1.1B (61%); Industrial brought in $305M (17%); Net Lease brought in $152M (8%).
What is Blackstone Real Estate Income Trust's biggest business?
Rental Housing Property: $1.1B in the third quarter 2026, 61% of revenue, -10% from a year earlier.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.