Blackstone Group LP, the world's largest publicly listed alternative asset manager, reported a 130-percent rise in fourth-quarter profit on Thursday, showing particularly strong gains in its real estate business. Blackstone, whose investments include The Weather Channel, Hilton Worldwide Holdings Inc and SeaWorld Entertainment Inc, said economic net income - a metric of its profitability that takes into account the mark-to-market valuation of its portfolio - was $1.54 billion in the fourth quarter of 2013, compared with $670 million a year ago.Distributable earnings, which show actual cash that is available to pay dividends, jumped 46 percent in the first quarter to $820.6 million.Total assets under management were $265.8 billion as of the end of December, up 26 percent year-on-year. Fee-earning assets under management rose 18 percent to $198 billion.Blackstone declared a quarterly distribution of 58 cents per common unit.
The Blackstone Group L.P. (Blackstone) is a manager of private capital and provider of financial advisory services. Shares of BX fell by 0.58% or $-0.18/share to $30.93. In the past year, the shares have traded as low as $17.63 and as high as $33.41. On average, 4237370 shares of BX exchange hands on a given day and today's volume is recorded at 5399023.
Hilton Worldwide Holdings Inc. is a hospitality company. Shares of HLT fell by 1.1% or $-0.24/share to $21.66. In the past year, the shares have traded as low as $21.15 and as high as $25.75. On average, 3506180 shares of HLT exchange hands on a given day and today's volume is recorded at 898538.
SeaWorld Entertainment, Inc. is a theme park and entertainment company. Shares of SEAS fell by 1.84% or $-0.61/share to $32.62. In the past year, the shares have traded as low as $27.48 and as high as $39.65. On average, 1120500 shares of SEAS exchange hands on a given day and today's volume is recorded at 1055264.
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