Bridge Investment Group Holdings Inc. (NYSE:BRDG) Announces Dividend Increase – $0.11 Per Share

Bridge Investment Group Holdings Inc. (NYSE:BRDG) announced a quarterly dividend on Monday, February 24th, Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 4.27%. The ex-dividend date is Friday, March 14th. This is a positive change from Bridge Investment Group’s previous quarterly dividend of $0.10.

Bridge Investment Group has raised its dividend payment by an average of 20.5% per year over the last three years. Bridge Investment Group has a dividend payout ratio of 37.4% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Down 2.8 %

BRDG traded down $0.29 on Tuesday, hitting $10.31. 1,140,835 shares of the company were exchanged, compared to its average volume of 281,701. Bridge Investment Group has a twelve month low of $6.18 and a twelve month high of $11.69. The company has a market cap of $1.25 billion, a price-to-earnings 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. The firm has a 50-day moving average price of $8.07 and a two-hundred day moving average price of $8.94.

Bridge Investment Group (NYSE:BRDG) last issued its quarterly earnings results on Monday, February 24th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $81.96 million for the quarter, compared to analysts’ expectations of $82.02 million. On average, equities analysts predict that Bridge Investment Group will post 0.68 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BRDG shares. TD Cowen decreased their price target 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. Wells Fargo & Company dropped their price target 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. Morgan Stanley cut shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $14.00 to $11.00 in a report on Friday, November 8th. Finally, JPMorgan Chase & Co. reaffirmed 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. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Bridge Investment Group has a consensus rating of “Hold” and an average target price of $10.40.

Insider Activity at Bridge Investment Group

In other news, CEO Jonathan Slager sold 11,403 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 $94,530.87. Following the completion of the transaction, the chief executive officer now owns 962,481 shares of the company’s stock, valued at $7,978,967.49. The trade was a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Vice Chairman Dean Allara sold 10,877 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $8.31, for a total transaction of $90,387.87. Following the sale, the insider now owns 662,473 shares in the company, valued at approximately $5,505,150.63. This trade represents a 1.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 145,187 shares of company stock valued at $1,204,966 in the last ninety days. 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.