Bridge Investment Group Holdings Inc. (NYSE:BRDG) Increases Dividend to $0.11 Per Share

Bridge Investment Group Holdings Inc. (NYSE:BRDG) declared a quarterly dividend on Tuesday, February 25th, Wall Street Journal reports. Investors 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 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Bridge Investment Group’s previous quarterly dividend of $0.10.

Bridge Investment Group has increased 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% meaning 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 Stock Performance

Shares of Bridge Investment Group stock traded down $0.29 on Tuesday, hitting $10.31. 1,140,821 shares of the company’s stock were exchanged, compared to its average volume of 281,700. Bridge Investment Group has a 1 year low of $6.18 and a 1 year high of $11.69. The company has a 50-day simple moving average of $8.07 and a 200-day simple moving average of $8.94. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a market capitalization of $1.25 billion, a PE ratio of 257.74 and a beta of 1.56.

Bridge Investment Group (NYSE:BRDG) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. The firm had revenue of $81.96 million for the quarter, compared to the consensus estimate of $82.02 million. As a group, equities analysts anticipate that Bridge Investment Group will post 0.68 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Katherine Elsnab sold 3,078 shares of Bridge Investment Group stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $8.29, for a total transaction of $25,516.62. Following the completion of the sale, the chief financial officer now owns 303,937 shares of the company’s stock, valued at $2,519,637.73. The trade was a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Dean Allara sold 10,877 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $8.31, for a total transaction of $90,387.87. Following the transaction, the insider now directly owns 662,473 shares of the company’s stock, valued at $5,505,150.63. This represents a 1.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 145,187 shares of company stock valued at $1,204,966. 73.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on BRDG shares. Morgan Stanley downgraded shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $14.00 to $11.00 in a report on Friday, November 8th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $10.00 price objective (down previously from $12.00) on shares of Bridge Investment Group in a research note on Tuesday, January 7th. TD Cowen cut their target price on Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating on the stock in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company reduced their target price on shares of Bridge Investment Group from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $10.40.

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.