Bridge Investment Group (NYSE:BRDG) Announces Quarterly 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 the consensus estimate of $0.16 by $0.02, Zacks reports. Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. The company had revenue of $81.96 million for the quarter, compared to the consensus estimate of $82.02 million.

Bridge Investment Group Price Performance

NYSE:BRDG opened at $10.31 on Wednesday. Bridge Investment Group has a 52-week low of $6.18 and a 52-week high of $11.69. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.14 and a current ratio of 1.14. The stock’s 50-day simple moving average is $8.10 and its 200 day simple moving average is $8.96. The company has a market cap of $1.25 billion, a P/E ratio of 257.74 and a beta of 1.56.

Bridge Investment Group Increases Dividend

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

Insider Activity at Bridge Investment Group

In other news, CFO Katherine Elsnab sold 3,078 shares of Bridge Investment Group stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total transaction of $25,516.62. Following the transaction, the chief financial officer now owns 303,937 shares in the company, valued at approximately $2,519,637.73. The trade was a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Dean Allara sold 10,438 shares of the business’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 value of $86,531.02. Following the completion of the transaction, the insider now directly owns 683,606 shares in the company, valued at approximately $5,667,093.74. This trade represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 145,187 shares of company stock worth $1,204,966. Insiders own 73.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BRDG shares. TD Cowen decreased their target price on shares of 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. Morgan Stanley downgraded shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $14.00 to $11.00 in a research report on Friday, November 8th. 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. Finally, Wells Fargo & Company lowered their price target on Bridge Investment Group from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Bridge Investment Group has a consensus rating of “Hold” and a consensus price target of $10.40.

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.