Bridge Investment Group Holdings Inc. (BRDG) To Go Ex-Dividend on March 14th

Bridge Investment Group Holdings Inc. (NYSE:BRDG) declared a quarterly dividend on Monday, February 24th, Wall Street Journal reports. Investors of record on Friday, March 14th will be paid a dividend of 0.11 per share on Friday, March 28th. This represents a $0.44 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date of this dividend is Friday, March 14th. This is a 10.0% increase from Bridge Investment Group’s previous quarterly dividend of $0.10.

Bridge Investment Group has increased its dividend payment by an average of 20.5% per year over the last three years. Bridge Investment Group has a dividend payout ratio of 41.5% indicating that its dividend is sufficiently covered by earnings. Equities research 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 $0.44 annual dividend with an expected future payout ratio of 55.0%.

Bridge Investment Group Trading Up 3.4 %

Shares of BRDG stock opened at $9.18 on Wednesday. Bridge Investment Group has a fifty-two week low of $6.18 and a fifty-two week high of $11.69. The stock’s fifty day moving average price is $8.36 and its two-hundred day moving average price is $9.10. 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 company has a market cap of $1.11 billion, a PE ratio of 229.43 and a beta of 1.47.

Bridge Investment Group (NYSE:BRDG) last released its earnings results on Monday, February 24th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The firm had revenue of $81.96 million for the quarter, compared to analysts’ expectations of $82.02 million. Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. Equities analysts predict that Bridge Investment Group will post 0.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BRDG. TD Cowen lowered their price objective on shares of Bridge Investment Group from $10.50 to $10.00 and set a “hold” rating for the company in a research report on Tuesday, November 12th. UBS Group upped their price target on shares of Bridge Investment Group from $7.50 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $10.00 price target (down from $12.00) on shares of Bridge Investment Group in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company lowered Bridge Investment Group from an “overweight” rating to an “equal weight” rating and boosted their price objective for the stock from $10.00 to $11.50 in a research report on Thursday, February 27th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $10.90.

Insiders Place Their Bets

In related news, Vice Chairman Dean Allara sold 10,877 shares of Bridge Investment Group stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $8.31, for a total value 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. The trade was a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jonathan Slager sold 11,403 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $8.29, for a total value of $94,530.87. Following the completion of the sale, the chief executive officer now owns 962,481 shares in the company, valued at $7,978,967.49. The trade was a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 145,187 shares of company stock valued at $1,204,966 in the last ninety days. 65.90% of the stock is currently owned by insiders.

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.