Bridge Investment Group (NYSE:BRDG) Posts Earnings Results, Beats Estimates By $0.02 EPS

Bridge Investment Group (NYSE:BRDG) posted its quarterly earnings data on Monday. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02, Zacks reports. Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. The business had revenue of $81.96 million during the quarter, compared to the consensus estimate of $82.02 million.

Bridge Investment Group Stock Performance

Shares of Bridge Investment Group stock opened at $10.31 on Wednesday. The business has a fifty day simple moving average of $8.10 and a two-hundred day simple moving average of $8.96. The firm has a market capitalization of $1.25 billion, a P/E ratio of 257.74 and a beta of 1.56. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.86. Bridge Investment Group has a 12 month low of $6.18 and a 12 month high of $11.69.

Bridge Investment Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Bridge Investment Group’s previous quarterly dividend of $0.10. Bridge Investment Group’s dividend payout ratio (DPR) is presently 1,000.00%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Wells Fargo & Company cut their price objective on shares of Bridge Investment Group from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $10.00 price objective (down previously from $12.00) on shares of Bridge Investment Group in a report on Tuesday, January 7th. TD Cowen reduced their target price on Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating for the company in a report on Tuesday, November 12th. Finally, Morgan Stanley cut shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $14.00 to $11.00 in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $10.40.

Insider Buying and Selling

In other Bridge Investment Group news, Chairman Robert Randolph Morse sold 47,252 shares of Bridge Investment Group stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $8.31, for a total value of $392,664.12. Following the completion of the transaction, the chairman now directly owns 3,157,271 shares of the company’s stock, valued at approximately $26,236,922.01. The trade was a 1.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Dean Allara sold 10,438 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total transaction of $86,531.02. Following the sale, the insider now directly owns 683,606 shares of the company’s stock, valued at $5,667,093.74. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 145,187 shares of company stock valued at $1,204,966 over the last quarter. Corporate insiders own 73.00% 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.