Bridge Investment Group Holdings Inc. (NYSE:BRDG) Announces Dividend Increase – $0.13 Per Share

Bridge Investment Group Holdings Inc. (NYSE:BRDG) declared a quarterly dividend on Tuesday, August 6th, NASDAQ reports. Investors of record on Friday, August 30th will be paid a dividend of 0.13 per share on Friday, September 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 6.25%. The ex-dividend date of this dividend is Friday, August 30th. This is a boost from Bridge Investment Group’s previous quarterly dividend of $0.12.

Bridge Investment Group has a dividend payout ratio of 48.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bridge Investment Group to earn $1.12 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 46.4%.

Bridge Investment Group Stock Performance

NYSE BRDG opened at $8.32 on Thursday. Bridge Investment Group has a fifty-two week low of $6.18 and a fifty-two week high of $10.45. The company has a market cap of $1.01 billion, a P/E ratio of -34.67 and a beta of 1.63. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 1.17. The business’s 50 day moving average price is $7.73 and its 200-day moving average price is $7.39.

Bridge Investment Group (NYSE:BRDG) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The firm had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $79.05 million. Bridge Investment Group had a net margin of 0.25% and a return on equity of 10.23%. During the same period in the previous year, the company earned $0.20 EPS. Sell-side analysts predict that Bridge Investment Group will post 0.8 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Adam O’farrell sold 3,748 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $8.26, for a total transaction of $30,958.48. Following the completion of the sale, the chief operating officer now directly owns 455,514 shares of the company’s stock, valued at $3,762,545.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Bridge Investment Group news, COO Adam O’farrell sold 3,748 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $8.26, for a total transaction of $30,958.48. Following the transaction, the chief operating officer now owns 455,514 shares of the company’s stock, valued at approximately $3,762,545.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Robert Randolph Morse sold 25,971 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $8.03, for a total transaction of $208,547.13. Following the transaction, the chairman now owns 2,554,419 shares in the company, valued at $20,511,984.57. The disclosure for this sale can be found here. In the last three months, insiders sold 84,366 shares of company stock valued at $687,133. Insiders own 65.90% of the company’s stock.

Bridge Investment Group Company Profile

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.