Bridge Investment Group Holdings Inc. (NYSE:BRDG) Plans Quarterly Dividend of $0.11

Bridge Investment Group Holdings Inc. (NYSE:BRDG) announced a quarterly dividend on Monday, February 24th, Wall Street Journal reports. Stockholders of record on Friday, March 14th will be given a dividend of 0.11 per share on Friday, March 28th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date is Friday, March 14th. This is a boost from Bridge Investment Group’s previous quarterly dividend of $0.10.

Bridge Investment Group has raised its dividend by an average of 20.5% per year over the last three years. Bridge Investment Group has a dividend payout ratio of 37.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bridge Investment Group to earn $0.80 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 50.0%.

Bridge Investment Group Trading Down 2.8 %

BRDG stock traded down $0.29 during trading on Tuesday, reaching $10.31. 1,140,835 shares of the stock traded hands, compared to its average volume of 281,701. The business’s 50 day moving average price is $8.07 and its 200-day moving average price is $8.94. The firm has a market capitalization of $1.25 billion, a PE ratio of 257.74 and a beta of 1.56. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.14 and a quick ratio of 1.14. Bridge Investment Group has a 52-week low of $6.18 and a 52-week high of $11.69.

Bridge Investment Group (NYSE:BRDG) last issued its earnings results on Monday, February 24th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. The business had revenue of $81.96 million during the quarter, compared to analysts’ expectations of $82.02 million. As a group, sell-side analysts forecast that Bridge Investment Group will post 0.68 earnings per share for the current year.

Insider Activity at Bridge Investment Group

In other news, CFO Katherine Elsnab sold 3,206 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $8.31, for a total value of $26,641.86. Following the completion of the sale, the chief financial officer now owns 297,707 shares of the company’s stock, valued at approximately $2,473,945.17. The trade was a 1.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Dean Allara sold 10,438 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total transaction of $86,531.02. Following the completion of the sale, the insider now owns 683,606 shares in the company, valued at approximately $5,667,093.74. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 145,187 shares of company stock valued at $1,204,966. Insiders own 73.00% of the company’s stock.

Analyst Ratings Changes

BRDG has been the topic of a number of research reports. Wells Fargo & Company cut their target price on shares of Bridge Investment Group from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $10.00 price objective (down from $12.00) on shares of Bridge Investment Group in a research report on Tuesday, January 7th. TD Cowen decreased their target price on Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating for the company in a research report on Tuesday, November 12th. Finally, Morgan Stanley downgraded Bridge Investment Group from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $14.00 to $11.00 in a report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Bridge Investment Group has an average rating of “Hold” and a consensus price target of $10.40.

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.