Bridge Investment Group (NYSE:BRDG) Given New $10.00 Price Target at TD Cowen

Bridge Investment Group (NYSE:BRDG) had its price objective trimmed by TD Cowen from $10.50 to $10.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other equities analysts also recently issued reports on the stock. Morgan Stanley downgraded shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $14.00 to $11.00 in a research note on Friday, November 8th. UBS Group lifted their price target on Bridge Investment Group from $7.00 to $11.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company upped their price target on Bridge Investment Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Bridge Investment Group has an average rating of “Hold” and a consensus target price of $11.00.

Bridge Investment Group Trading Up 0.5 %

Shares of BRDG traded up $0.05 during mid-day trading on Tuesday, reaching $9.60. The company’s stock had a trading volume of 4,836 shares, compared to its average volume of 237,456. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.86. Bridge Investment Group has a 52 week low of $6.18 and a 52 week high of $11.69. The company’s fifty day moving average price is $9.89 and its two-hundred day moving average price is $8.41. The stock has a market cap of $1.16 billion, a PE ratio of 238.81 and a beta of 1.63.

Bridge Investment Group (NYSE:BRDG) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. The company had revenue of $101.51 million during the quarter, compared to analysts’ expectations of $85.00 million. During the same period last year, the firm earned $0.22 earnings per share. On average, analysts predict that Bridge Investment Group will post 0.68 earnings per share for the current fiscal year.

Bridge Investment Group Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend is Friday, December 6th. Bridge Investment Group’s payout ratio is 1,300.33%.

Institutional Investors Weigh In On Bridge Investment Group

Institutional investors have recently made changes to their positions in the company. Quarry LP grew its stake in shares of Bridge Investment Group by 22.5% in the second quarter. Quarry LP now owns 8,350 shares of the company’s stock worth $62,000 after acquiring an additional 1,535 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Bridge Investment Group by 3.2% in the second quarter. Bank of New York Mellon Corp now owns 55,328 shares of the company’s stock worth $411,000 after acquiring an additional 1,735 shares during the period. HBK Sorce Advisory LLC increased its position in Bridge Investment Group by 23.4% during the first quarter. HBK Sorce Advisory LLC now owns 21,296 shares of the company’s stock valued at $146,000 after acquiring an additional 4,035 shares during the last quarter. Albion Financial Group UT bought a new position in Bridge Investment Group in the second quarter valued at about $37,000. Finally, Lord Abbett & CO. LLC boosted its position in Bridge Investment Group by 0.8% in the first quarter. Lord Abbett & CO. LLC now owns 860,963 shares of the company’s stock worth $5,898,000 after purchasing an additional 6,851 shares during the last quarter. Hedge funds and other institutional investors own 52.83% of the company’s stock.

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.