Bridge Investment Group (NYSE:BRDG) Issues Quarterly Earnings Results, Misses Estimates By $0.03 EPS

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

Bridge Investment Group Stock Performance

Bridge Investment Group stock traded up $0.20 during midday trading on Friday, hitting $10.20. The company’s stock had a trading volume of 381,878 shares, compared to its average volume of 237,375. The company has a 50-day moving average price of $9.76 and a two-hundred day moving average price of $8.33. Bridge Investment Group has a 1-year low of $6.18 and a 1-year high of $11.69. The company has a market cap of $1.24 billion, a price-to-earnings ratio of -92.72 and a beta of 1.63. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.21 and a quick ratio of 1.21.

Bridge Investment Group Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.10 per share. 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 is -472.68%.

Analyst Upgrades and Downgrades

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

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.