Bridge Investment Group (NYSE:BRDG) Issues Earnings Results

Bridge Investment Group (NYSE:BRDG) announced its quarterly earnings results on Wednesday. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.03), Zacks reports. Bridge Investment Group had a return on equity of 16.35% and a net margin of 0.82%. The company had revenue of $101.51 million for the quarter, compared to the consensus estimate of $85.00 million. During the same quarter last year, the company posted $0.22 EPS.

Bridge Investment Group Trading Up 2.0 %

Shares of Bridge Investment Group stock traded up $0.20 during trading on Friday, reaching $10.20. 381,878 shares of the stock were exchanged, compared to its average volume of 237,375. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.85. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -92.72 and a beta of 1.63. Bridge Investment Group has a 1 year low of $6.18 and a 1 year high of $11.69. The stock’s fifty day moving average is $9.76 and its 200 day moving average is $8.33.

Bridge Investment Group Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date of this dividend is Friday, December 6th. Bridge Investment Group’s dividend payout ratio (DPR) is presently -472.68%.

Analyst Ratings Changes

A number of brokerages recently weighed in on BRDG. TD Cowen downgraded shares of Bridge Investment Group from a “buy” rating to a “hold” rating and boosted their price target for the stock from $10.00 to $10.50 in a report on Monday, October 14th. UBS Group increased their target price on shares of Bridge Investment Group from $7.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company boosted their price target on shares of Bridge Investment Group from $11.00 to $11.50 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley downgraded shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $14.00 to $11.00 in a report on Friday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $11.10.

About Bridge Investment Group

Bridge Investment Group Holdings Inc engages in the real estate investment management business in the United States. It manages capital on behalf of approximately hundred global institutions and 6,500 individual investors across approximately 25 investment vehicles. The company was founded in 2009 and is headquartered in Salt Lake City, Utah.