Bridge Investment Group Holdings Inc. Plans Quarterly Dividend of $0.10 (NYSE:BRDG)

Bridge Investment Group Holdings Inc. (NYSE:BRDG) announced a quarterly dividend on Wednesday, November 6th,NASDAQ Dividends reports. Shareholders of record on Friday, December 6th will be given a dividend of 0.10 per share on Friday, December 20th. This represents a $0.40 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend is Friday, December 6th.

Bridge Investment Group has a payout ratio of 46.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Bridge Investment Group to earn $0.82 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 48.8%.

Bridge Investment Group Trading Down 0.3 %

Shares of Bridge Investment Group stock opened at $9.77 on Wednesday. Bridge Investment Group has a fifty-two week low of $6.18 and a fifty-two week high of $11.69. The business’s fifty day moving average is $10.16 and its two-hundred day moving average is $8.66. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.86. The firm has a market cap of $1.18 billion, a PE ratio of 244.31 and a beta of 1.54.

Bridge Investment Group (NYSE:BRDG) last released its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.03). 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 9.91% and a net margin of 1.92%. During the same quarter last year, the company posted $0.22 earnings per share. Analysts anticipate that Bridge Investment Group will post 0.68 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BRDG. Wells Fargo & Company boosted their target price on shares of Bridge Investment Group from $11.00 to $11.50 and gave the company an “overweight” rating in a report on Wednesday, October 9th. TD Cowen lowered their price objective on shares of Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating for the company in a research note on Tuesday, November 12th. UBS Group increased their target price on Bridge Investment Group from $7.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Morgan Stanley downgraded Bridge Investment Group from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $14.00 to $11.00 in a research report on Friday, November 8th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $11.00.

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.