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

Bridge Investment Group Holdings Inc. (NYSE:BRDG) announced a quarterly dividend on Wednesday, November 6th,NASDAQ Dividends reports. Investors 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 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend is Friday, December 6th.

Bridge Investment Group has a payout ratio of 51.5% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance

Shares of NYSE BRDG opened at $10.01 on Friday. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -90.95 and a beta of 1.63. The stock has a fifty day simple moving average of $9.72 and a two-hundred day simple moving average of $8.30. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.85. Bridge Investment Group has a 1-year low of $6.18 and a 1-year high of $11.69.

Bridge Investment Group (NYSE:BRDG) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. The business had revenue of $104.76 million for the quarter, compared to the consensus estimate of $79.05 million. Bridge Investment Group had a net margin of 0.82% and a return on equity of 16.35%. During the same period in the prior year, the firm earned $0.20 earnings per share. Analysts anticipate that Bridge Investment Group will post 0.74 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Morgan Stanley upped their price target on shares of Bridge Investment Group from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. TD Cowen lowered Bridge Investment Group from a “buy” rating to a “hold” rating and raised their price target for the stock from $10.00 to $10.50 in a report on Monday, October 14th. Wells Fargo & Company lifted their price target on Bridge Investment Group from $11.00 to $11.50 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Finally, UBS Group raised their target price on Bridge Investment Group from $7.00 to $11.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.