Bridge Investment Group (NYSE:BRDG) Issues Earnings Results

Bridge Investment Group (NYSE:BRDG - Get Free Report) announced its quarterly earnings data on Wednesday. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.03), Zacks reports. Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.90%. The firm had revenue of $101.51 million for the quarter, compared to analyst estimates of $85.00 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share.

Bridge Investment Group Stock Up 2.0 %

BRDG traded up $0.20 during mid-day trading on Friday, reaching $10.20. 381,878 shares of the stock were exchanged, compared to its average volume of 232,814. Bridge Investment Group has a 1 year low of $6.18 and a 1 year high of $11.69. The stock has a market capitalization of $1.24 billion, a PE ratio of 255.06 and a beta of 1.63. The company has a 50 day moving average price of $9.76 and a two-hundred day moving average price of $8.33. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.21 and a current ratio of 1.21.

Bridge Investment Group Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.92%. Bridge Investment Group's dividend payout ratio is presently 1,300.33%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. UBS Group boosted their target price on Bridge Investment Group from $7.00 to $11.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 22nd. TD Cowen lowered shares of Bridge Investment Group from a "buy" rating to a "hold" rating and lifted their price target for the stock from $10.00 to $10.50 in a report on Monday, October 14th. Morgan Stanley downgraded Bridge Investment Group from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $14.00 to $11.00 in a report on Friday. Finally, Wells Fargo & Company raised their target price on Bridge Investment Group from $11.00 to $11.50 and gave the stock an "overweight" rating in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Bridge Investment Group presently has an average rating of "Hold" and an average target price 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.