Bridge Investment Group (NYSE:BRDG) Rating Lowered to Equal Weight at Morgan Stanley

Morgan Stanley downgraded shares of Bridge Investment Group (NYSE:BRDG) from an overweight rating to an equal weight rating in a research report report published on Friday morning, Marketbeat.com reports. They currently have $11.00 target price on the stock, down from their previous target price of $14.00.

BRDG has been the subject of several other research reports. Wells Fargo & Company upped their price target on Bridge Investment Group from $11.00 to $11.50 and gave the company an “overweight” rating in a report on Wednesday, October 9th. TD Cowen downgraded shares of Bridge Investment Group from a “buy” rating to a “hold” rating and lifted their price target for the stock from $10.00 to $10.50 in a research note on Monday, October 14th. Finally, UBS Group increased their price objective on shares of Bridge Investment Group from $7.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Bridge Investment Group presently has a consensus rating of “Hold” and an average target price of $11.10.

Bridge Investment Group Price Performance

NYSE BRDG opened at $10.16 on Friday. The stock has a market capitalization of $1.23 billion, a PE ratio of 254.06 and a beta of 1.63. The stock has a 50-day simple moving average of $9.80 and a 200 day simple moving average of $8.37. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.21 and a current ratio of 1.21. Bridge Investment Group has a twelve month low of $6.18 and a twelve month high of $11.69.

Bridge Investment Group (NYSE:BRDG) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.03). Bridge Investment Group had a return on equity of 9.90% and a net margin of 1.92%. The company had revenue of $101.51 million during the quarter, compared to analyst estimates of $85.00 million. During the same quarter in the previous year, the business posted $0.22 EPS. Research analysts anticipate that Bridge Investment Group will post 0.72 EPS for the current year.

Bridge Investment Group Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.94%. The ex-dividend date is Friday, December 6th. Bridge Investment Group’s payout ratio is 1,300.33%.

Hedge Funds Weigh In On Bridge Investment Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BRDG. HBK Sorce Advisory LLC raised its stake in shares of Bridge Investment Group by 23.4% in the first quarter. HBK Sorce Advisory LLC now owns 21,296 shares of the company’s stock valued at $146,000 after acquiring an additional 4,035 shares during the last quarter. Lord Abbett & CO. LLC raised its position in Bridge Investment Group by 0.8% in the 1st quarter. Lord Abbett & CO. LLC now owns 860,963 shares of the company’s stock valued at $5,898,000 after purchasing an additional 6,851 shares during the last quarter. Thornburg Investment Management Inc. boosted its stake in Bridge Investment Group by 181.2% in the first quarter. Thornburg Investment Management Inc. now owns 783,353 shares of the company’s stock worth $5,358,000 after purchasing an additional 504,812 shares in the last quarter. 1832 Asset Management L.P. bought a new stake in shares of Bridge Investment Group during the first quarter worth $966,000. Finally, Albion Financial Group UT acquired a new stake in shares of Bridge Investment Group in the second quarter valued at $37,000. 52.83% of the stock is currently owned by institutional investors and hedge funds.

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.