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 yield of 4.27%. The ex-dividend date is Friday, March 14th. This is an increase from Bridge Investment Group’s previous quarterly dividend of $0.10.
Bridge Investment Group has raised its dividend by an average of 20.5% per year over the last three years. Bridge Investment Group has a payout ratio of 37.4% indicating that its dividend is sufficiently covered by earnings. Equities 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 $0.40 annual dividend with an expected future payout ratio of 50.0%.
Bridge Investment Group Trading Down 2.8 %
Bridge Investment Group stock opened at $10.31 on Wednesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.14 and a current ratio of 1.14. Bridge Investment Group has a fifty-two week low of $6.18 and a fifty-two week high of $11.69. The stock has a market cap of $1.25 billion, a P/E ratio of 257.74 and a beta of 1.56. The firm’s fifty day moving average price is $8.10 and its 200-day moving average price is $8.96.
Insiders Place Their Bets
In related news, CEO Jonathan Slager sold 11,403 shares of Bridge Investment Group stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total value of $94,530.87. Following the transaction, the chief executive officer now directly owns 962,481 shares of the company’s stock, valued at $7,978,967.49. The trade was a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Robert Randolph Morse sold 45,343 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total transaction of $375,893.47. Following the sale, the chairman now directly owns 3,249,076 shares of the company’s stock, valued at $26,934,840.04. The trade was a 1.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 145,187 shares of company stock valued at $1,204,966 over the last three months. Insiders own 73.00% of the company’s stock.
Analysts Set New Price Targets
BRDG has been the subject of a number of research reports. Morgan Stanley cut shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $14.00 to $11.00 in a research note on Friday, November 8th. Wells Fargo & Company dropped their price objective on shares of Bridge Investment Group from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $10.00 target price (down previously from $12.00) on shares of Bridge Investment Group in a research note on Tuesday, January 7th. Finally, TD Cowen reduced their price objective on Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating on the stock in a research report on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $10.40.
Read Our Latest Stock Analysis on Bridge Investment Group
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.
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