Bridge Investment Group (NYSE:BRDG) Announces Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Bridge Investment Group (NYSE:BRDG) posted its quarterly earnings results on Wednesday. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03), Zacks reports. The business had revenue of $101.51 million for the quarter, compared to analysts’ expectations of $85.00 million. Bridge Investment Group had a return on equity of 16.35% and a net margin of 0.82%. During the same period in the prior year, the business posted $0.22 earnings per share.

Bridge Investment Group Price Performance

Shares of Bridge Investment Group stock traded up $0.20 on Friday, reaching $10.20. The company’s stock had a trading volume of 381,878 shares, compared to its average volume of 237,375. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $1.24 billion, a P/E ratio of -92.72 and a beta of 1.63. The stock has a 50-day moving average price of $9.76 and a 200-day moving average price of $8.33. Bridge Investment Group has a 52-week low of $6.18 and a 52-week high of $11.69.

Bridge Investment Group Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.40 dividend on an annualized basis and a yield of 3.92%. Bridge Investment Group’s dividend payout ratio is currently -472.68%.

Wall Street Analysts Forecast Growth

BRDG has been the subject of several recent research reports. UBS Group raised their target price on shares of Bridge Investment Group from $7.00 to $11.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. 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 report on Wednesday, October 9th. Morgan Stanley downgraded Bridge Investment Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $14.00 to $11.00 in a report on Friday. Finally, TD Cowen lowered Bridge Investment Group from a “buy” rating to a “hold” rating and upped their price objective for the stock from $10.00 to $10.50 in a research report on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $11.10.

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.