Bridge Investment Group Holdings Inc. (NYSE:BRDG) Announces Quarterly Dividend of $0.11

Bridge Investment Group Holdings Inc. (NYSE:BRDG) announced a quarterly dividend on Tuesday, February 25th, Wall Street Journal reports. Shareholders 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 annualized dividend and a 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% annually over the last three years. Bridge Investment Group has a payout ratio of 37.4% 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 $0.40 annual dividend with an expected future payout ratio of 50.0%.

Bridge Investment Group Trading Down 2.8 %

Shares of NYSE BRDG traded down $0.29 during midday trading on Tuesday, reaching $10.31. The company had a trading volume of 1,140,821 shares, compared to its average volume of 281,700. The stock has a market cap of $1.25 billion, a PE ratio of 257.74 and a beta of 1.56. Bridge Investment Group has a one year low of $6.18 and a one year high of $11.69. The firm’s fifty day moving average price is $8.07 and its 200-day moving average price is $8.94. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.86.

Bridge Investment Group (NYSE:BRDG) last issued its earnings results on Monday, February 24th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 1.92% and a return on equity of 9.91%. On average, equities research analysts anticipate that Bridge Investment Group will post 0.68 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Transactions at Bridge Investment Group

In related news, CEO Jonathan Slager sold 11,403 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $8.29, for a total transaction of $94,530.87. Following the completion of the transaction, the chief executive officer now owns 962,481 shares of the company’s stock, valued at $7,978,967.49. This trade represents a 1.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Robert Randolph Morse sold 47,252 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $8.31, for a total value of $392,664.12. Following the transaction, the chairman now owns 3,157,271 shares of the company’s stock, valued at $26,236,922.01. The trade was a 1.47 % 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 three months. 73.00% of the stock is currently owned by company insiders.

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.