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

Bridge Investment Group Holdings Inc. (NYSE:BRDG) declared a dividend on Wednesday, November 6th,NASDAQ Dividends reports. Investors of record on Friday, December 6th will be paid a dividend of 0.10 per share on Friday, December 20th. The ex-dividend date of this dividend is Friday, December 6th.

Bridge Investment Group has a payout ratio of 51.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Bridge Investment Group to earn $1.01 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 51.5%.

Bridge Investment Group Stock Performance

Shares of BRDG stock traded down $1.21 during mid-day trading on Thursday, hitting $10.01. 862,462 shares of the stock were exchanged, compared to its average volume of 236,706. 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 has a 12-month low of $6.18 and a 12-month high of $11.69. The stock’s fifty day simple moving average is $9.68 and its two-hundred day simple moving average is $8.29.

Bridge Investment Group (NYSE:BRDG) last announced its earnings results on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. Bridge Investment Group had a net margin of 0.82% and a return on equity of 16.35%. The business had revenue of $104.76 million for the quarter, compared to analysts’ expectations of $79.05 million. During the same period in the previous year, the company posted $0.20 EPS. On average, research analysts forecast that Bridge Investment Group will post 0.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. UBS Group boosted their price objective on shares of Bridge Investment Group from $7.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Morgan Stanley increased their price target on shares of Bridge Investment Group from $11.00 to $14.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Wells Fargo & Company lifted their price objective on Bridge Investment Group from $11.00 to $11.50 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Finally, TD Cowen cut Bridge Investment Group from a “buy” rating to a “hold” rating and raised their price target for the company from $10.00 to $10.50 in a report on Monday, October 14th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.70.

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.