Why I Continue Buying This Ultra-High-Yield Stock Hand Over Fist
I can't seem to get enough of Blackstone (NYSE: BX) stock these days. I added the leading alternative investment manager to my portfolio last summer and have increased my position four times since then. And I plan to add even more shares of the big-time dividend stock (Blackstone currently yields 6.1% versus 1.7% for the S&P 500) if shares fall further.
While that sizable passive income stream is a big draw, it's far from the only reason I continue adding to my Blackstone position, which is one of my highest-conviction investments. Here's why it's one of my top investment ideas for 2023 and beyond.
I've been steadily buying Blackstone shares as they've fallen in recent months. The primary factor weighing on the stock is a surge in redemptions at its non-traded real estate investment trust (REIT), Blackstone Real Estate Income Trust, or BREIT.
Source Fool.com
