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

Bridge Investment Group (NYSE:BRDG) had its target price hoisted by UBS Group from $7.00 to $11.00 in a report issued on Tuesday morning, Benzinga reports. UBS Group currently has a neutral rating on the stock.

BRDG has been the subject of several other research reports. TD Cowen lowered shares of Bridge Investment Group from a “buy” rating to a “hold” rating and lifted their price objective for the company from $10.00 to $10.50 in a research note on Monday, October 14th. Wells Fargo & Company lifted their price objective on shares of Bridge Investment Group from $11.00 to $11.50 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Finally, Morgan Stanley lifted their price objective on shares of Bridge Investment Group from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Bridge Investment Group presently has a consensus rating of “Moderate Buy” and an average target price of $11.70.

Bridge Investment Group Stock Up 0.4 %

Bridge Investment Group stock opened at $10.68 on Tuesday. 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 52-week low of $6.18 and a 52-week high of $10.95. The firm has a 50 day moving average price of $8.99 and a two-hundred day moving average price of $7.97. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -44.50 and a beta of 1.65.

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

Bridge Investment Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date of this dividend was Friday, August 30th. This is a positive change from Bridge Investment Group’s previous quarterly dividend of $0.12. Bridge Investment Group’s payout ratio is -216.67%.

Institutional Trading of Bridge Investment Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Albion Financial Group UT bought a new stake in Bridge Investment Group during the 2nd quarter valued at $37,000. Quarry LP boosted its holdings in Bridge Investment Group by 22.5% during the 2nd 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 last quarter. HBK Sorce Advisory LLC boosted its holdings in Bridge Investment Group by 23.4% during the 1st quarter. HBK Sorce Advisory LLC now owns 21,296 shares of the company’s stock worth $146,000 after acquiring an additional 4,035 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Bridge Investment Group by 3.2% during the 2nd 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 last quarter. Finally, Marshall Wace LLP boosted its holdings in Bridge Investment Group by 22.0% during the 2nd 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 last quarter. 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.