Bridge Investment Group (NYSE:BRDG – Get Rating) had its target price decreased by Morgan Stanley from $21.00 to $20.00 in a research report sent to investors on Tuesday, Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.
BRDG has been the subject of a number of other reports. Wells Fargo & Company cut their price objective on Bridge Investment Group from $19.00 to $18.00 and set an overweight rating for the company in a report on Wednesday, January 11th. UBS Group lifted their price objective on Bridge Investment Group from $15.00 to $16.00 and gave the company a neutral rating in a report on Tuesday, November 15th. Piper Sandler began coverage on Bridge Investment Group in a report on Thursday, January 5th. They set an overweight rating for the company. Credit Suisse Group set a $13.50 price objective on Bridge Investment Group in a report on Wednesday, November 23rd. Finally, TheStreet lowered Bridge Investment Group from a c- rating to a d+ rating in a research note on Wednesday, October 19th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Bridge Investment Group currently has an average rating of Moderate Buy and a consensus price target of $18.30.
Get Bridge Investment Group alerts:Bridge Investment Group Stock Up 3.6 %
Shares of BRDG stock opened at $14.55 on Tuesday. The stock has a market cap of $425.54 million, a P/E ratio of 9.83 and a beta of 1.63. Bridge Investment Group has a one year low of $11.88 and a one year high of $23.78. The stock has a fifty day moving average price of $13.73 and a 200 day moving average price of $15.11. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.42 and a quick ratio of 2.42.
Bridge Investment Group (NYSE:BRDG – Get Rating) last issued its quarterly earnings data on Tuesday, November 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.05. The company had revenue of $110.42 million during the quarter. Bridge Investment Group had a return on equity of 4.35% and a net margin of 9.45%. Analysts predict that Bridge Investment Group will post 1.11 earnings per share for the current year.Bridge Investment Group Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 16th. Investors of record on Friday, December 2nd were given a $0.27 dividend. The ex-dividend date was Thursday, December 1st. This represents a $1.08 dividend on an annualized basis and a yield of 7.42%. Bridge Investment Group's payout ratio is 72.97%.
Institutional Trading of Bridge Investment Group
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BRDG. JPMorgan Chase & Co. increased its position in Bridge Investment Group by 769.5% in the first quarter. JPMorgan Chase & Co. now owns 8,373 shares of the company's stock worth $170,000 after purchasing an additional 7,410 shares during the period. Bank of New York Mellon Corp increased its position in Bridge Investment Group by 6.2% in the first quarter. Bank of New York Mellon Corp now owns 63,146 shares of the company's stock worth $1,285,000 after purchasing an additional 3,703 shares during the period. BlackRock Inc. increased its position in Bridge Investment Group by 1.1% in the first quarter. BlackRock Inc. now owns 342,538 shares of the company's stock worth $6,971,000 after purchasing an additional 3,650 shares during the period. Lord Abbett & CO. LLC increased its position in Bridge Investment Group by 39.0% in the first quarter. Lord Abbett & CO. LLC now owns 557,049 shares of the company's stock worth $11,336,000 after purchasing an additional 156,156 shares during the period. Finally, Vanguard Group Inc. increased its position in Bridge Investment Group by 26.5% in the first quarter. Vanguard Group Inc. now owns 2,075,765 shares of the company's stock worth $42,241,000 after purchasing an additional 434,346 shares during the period. 59.37% of the stock is currently owned by institutional investors and hedge funds.
About Bridge Investment Group
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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.
Further Reading
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