Bridge Investment Group (NYSE:BRDG) Posts Earnings Results, Misses Expectations By $0.03 EPS

Bridge Investment Group (NYSE:BRDG) posted 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. The firm had revenue of $101.51 million during the quarter, compared to analysts’ expectations of $85.00 million. Bridge Investment Group had a net margin of 0.82% and a return on equity of 16.35%. During the same quarter in the previous year, the company posted $0.22 EPS.

Bridge Investment Group Stock Performance

NYSE:BRDG traded up $0.20 during trading hours on Friday, hitting $10.20. 381,878 shares of the company were exchanged, compared to its average volume of 237,375. The company’s 50 day moving average price is $9.76 and its 200-day moving average price is $8.33. Bridge Investment Group has a 52-week low of $6.18 and a 52-week high of $11.69. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.21 and a quick ratio of 1.21. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -92.72 and a beta of 1.63.

Bridge Investment Group Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BRDG shares. Wells Fargo & Company increased their target price on Bridge Investment Group from $11.00 to $11.50 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Morgan Stanley lowered shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $14.00 to $11.00 in a report on Friday. UBS Group raised their price target on shares of Bridge Investment Group from $7.00 to $11.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, TD Cowen lowered shares of Bridge Investment Group from a “buy” rating to a “hold” rating and upped their price target for the company from $10.00 to $10.50 in a research report on Monday, October 14th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.