Bridge Investment Group Holdings Inc. (NYSE:BRDG) Plans Quarterly Dividend of $0.11

Bridge Investment Group Holdings Inc. (NYSE:BRDG - Get Free Report) 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 dividend yield of 4.19%. The ex-dividend date is Friday, March 14th. This is a boost from Bridge Investment Group's previous quarterly dividend of $0.10.

Bridge Investment Group has raised its dividend by an average of 20.5% annually over the last three years. Bridge Investment Group has a payout ratio of 41.1% meaning 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 $0.44 annual dividend with an expected future payout ratio of 55.0%.

Bridge Investment Group Stock Up 1.0 %

Shares of BRDG traded up $0.10 during midday trading on Friday, hitting $10.49. 560,819 shares of the company's stock traded hands, compared to its average volume of 312,357. Bridge Investment Group has a 1 year low of $6.18 and a 1 year high of $11.69. The firm's fifty day moving average is $8.21 and its 200-day moving average is $9.00. 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 stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 262.32 and a beta of 1.56.

Bridge Investment Group (NYSE:BRDG - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The company reported $0.18 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.02. The company had revenue of $81.96 million during the quarter, compared to analysts' expectations 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 anticipate that Bridge Investment Group will post 0.68 earnings per share for the current year.

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Analyst Upgrades and Downgrades

A number of research firms have issued reports on BRDG. Morgan Stanley lowered shares of Bridge Investment Group from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $14.00 to $11.00 in a research report on Friday, November 8th. Wells Fargo & Company cut shares of Bridge Investment Group from an "overweight" rating to an "equal weight" rating and raised their target price for the stock from $10.00 to $11.50 in a report on Thursday. UBS Group lifted their price objective on Bridge Investment Group from $7.50 to $12.00 and gave the company a "neutral" rating in a research note on Wednesday. TD Cowen reduced their price target on 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. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $10.00 target price (down from $12.00) on shares of Bridge Investment Group in a report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $10.90.

Insider Buying and Selling

In other news, COO Adam O'farrell sold 6,655 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total transaction of $55,169.95. Following the completion of the sale, the chief operating officer now owns 551,512 shares of the company's stock, valued at $4,572,034.48. The trade was a 1.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Dean Allara sold 10,438 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $8.29, for a total value of $86,531.02. Following the sale, the insider now owns 683,606 shares of the company's stock, 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 quarter, insiders sold 145,187 shares of company stock valued at $1,204,966. 73.00% of the stock is owned by corporate insiders.

About Bridge Investment Group

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.