Bridge Investment Group (NYSE:BRDG) Price Target Raised to $11.00 at UBS Group

Bridge Investment Group (NYSE:BRDG) had its price target boosted by UBS Group from $7.00 to $11.00 in a research note published on Tuesday, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other analysts have also recently commented on BRDG. Morgan Stanley upped their price objective on Bridge Investment Group from $11.00 to $14.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. TD Cowen lowered Bridge Investment Group from a “buy” rating to a “hold” rating and boosted their price target for the company from $10.00 to $10.50 in a report on Monday, October 14th. Finally, Wells Fargo & Company boosted their price target on Bridge Investment Group from $11.00 to $11.50 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $11.70.

Bridge Investment Group Stock Down 1.5 %

Bridge Investment Group stock opened at $10.54 on Tuesday. The stock has a market cap of $1.28 billion, a PE ratio of -43.92 and a beta of 1.65. 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 one year low of $6.18 and a one year high of $10.95. The stock has a fifty day moving average of $9.23 and a 200 day moving average of $8.06.

Bridge Investment Group (NYSE:BRDG) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The company had revenue of $104.76 million during the quarter, compared to analysts’ expectations of $79.05 million. Bridge Investment Group had a return on equity of 16.35% and a net margin of 0.82%. During the same quarter in the prior year, the business earned $0.20 earnings per share. As a group, sell-side analysts predict that Bridge Investment Group will post 0.77 EPS for the current year.

Bridge Investment Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.13 dividend. This is a positive change from Bridge Investment Group’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, August 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.93%. Bridge Investment Group’s dividend payout ratio is -216.67%.

Hedge Funds Weigh In On Bridge Investment Group

A number of hedge funds have recently made changes to their positions in the business. Quarry LP boosted 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. Marshall Wace LLP boosted its stake in shares of Bridge Investment Group by 22.0% in the second quarter. Marshall Wace LLP now owns 114,769 shares of the company’s stock worth $852,000 after acquiring an additional 20,726 shares during the period. 1832 Asset Management L.P. boosted its stake in shares of Bridge Investment Group by 21.7% in the second quarter. 1832 Asset Management L.P. now owns 171,620 shares of the company’s stock worth $1,273,000 after acquiring an additional 30,620 shares during the period. Bank of New York Mellon Corp boosted its stake 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. Finally, Albion Financial Group UT bought a new position in shares of Bridge Investment Group in the second quarter worth about $37,000. 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.