Bridge Investment Group (NYSE:BRDG) Downgraded to Equal Weight Rating by Wells Fargo & Company

Wells Fargo & Company downgraded shares of Bridge Investment Group (NYSE:BRDG) from an overweight rating to an equal weight rating in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage currently has $11.50 target price on the stock, up from their previous target price of $10.00.

Other equities research analysts have also issued research reports about the company. Morgan Stanley lowered Bridge Investment Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $14.00 to $11.00 in a research report on Friday, November 8th. TD Cowen dropped their price objective on Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating on the stock in a report on Tuesday, November 12th. UBS Group increased their price objective on Bridge Investment Group from $7.50 to $12.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $10.00 price objective (down previously from $12.00) on shares of Bridge Investment Group in a report on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $10.90.

Bridge Investment Group Price Performance

BRDG opened at $10.38 on Thursday. The stock’s 50-day moving average price is $8.17 and its 200 day moving average price is $8.98. Bridge Investment Group has a 12-month low of $6.18 and a 12-month high of $11.69. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.86. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 259.44 and a beta of 1.56.

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

Bridge Investment Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Bridge Investment Group’s previous quarterly dividend of $0.10. Bridge Investment Group’s dividend payout ratio (DPR) is currently 1,000.00%.

Insider Buying and Selling

In other Bridge Investment Group news, CFO Katherine Elsnab sold 3,206 shares of Bridge Investment Group stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $8.31, for a total value of $26,641.86. Following the transaction, the chief financial officer now directly owns 297,707 shares in the company, valued at approximately $2,473,945.17. This trade represents a 1.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Dean Allara sold 10,877 shares of Bridge Investment Group stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $8.31, for a total value of $90,387.87. Following the completion of the transaction, the insider now owns 662,473 shares in the company, valued at $5,505,150.63. This trade represents a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 145,187 shares of company stock worth $1,204,966 in the last quarter. 73.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. EP Wealth Advisors LLC purchased a new position in shares of Bridge Investment Group in the 4th quarter valued at approximately $89,000. Aquatic Capital Management LLC acquired a new stake in shares of Bridge Investment Group in the 4th quarter valued at approximately $95,000. Jane Street Group LLC acquired a new stake in shares of Bridge Investment Group in the 3rd quarter valued at approximately $102,000. Paloma Partners Management Co acquired a new stake in shares of Bridge Investment Group in the 3rd quarter valued at approximately $110,000. Finally, XTX Topco Ltd acquired a new stake in shares of Bridge Investment Group in the 3rd quarter valued at approximately $127,000. 52.83% of the stock is currently owned by hedge funds and other institutional investors.

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.