TD Cowen Has Lowered Expectations for Bridge Investment Group (NYSE:BRDG) Stock Price

Bridge Investment Group (NYSE:BRDG) had its price target decreased by TD Cowen from $10.50 to $10.00 in a research report report published on Tuesday,Benzinga reports. TD Cowen currently has a hold rating on the stock.

BRDG has been the topic of a number of other research reports. UBS Group lifted their target price on shares of Bridge Investment Group from $7.00 to $11.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Morgan Stanley downgraded Bridge Investment Group from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $14.00 to $11.00 in a research report on Friday, November 8th. Finally, Wells Fargo & Company increased their target price on Bridge Investment Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $11.00.

Bridge Investment Group Stock Performance

Shares of BRDG opened at $9.57 on Tuesday. The business has a 50-day simple moving average of $9.93 and a two-hundred day simple moving average of $8.43. 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 has a 52 week low of $6.18 and a 52 week high of $11.69. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 239.25 and a beta of 1.63.

Bridge Investment Group (NYSE:BRDG) last released its earnings results on Wednesday, November 6th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.03). Bridge Investment Group had a return on equity of 9.91% and a net margin of 1.92%. The firm had revenue of $101.51 million during the quarter, compared to analysts’ expectations of $85.00 million. During the same period in the prior year, the company posted $0.22 earnings per share. On average, analysts expect that Bridge Investment Group will post 0.68 EPS for the current year.

Bridge Investment Group Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 4.18%. The ex-dividend date is Friday, December 6th. Bridge Investment Group’s payout ratio is currently 1,000.00%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. HBK Sorce Advisory LLC boosted its stake in Bridge Investment Group by 23.4% during the first quarter. HBK Sorce Advisory LLC now owns 21,296 shares of the company’s stock valued at $146,000 after buying an additional 4,035 shares during the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of Bridge Investment Group by 0.8% during the 1st quarter. Lord Abbett & CO. LLC now owns 860,963 shares of the company’s stock worth $5,898,000 after acquiring an additional 6,851 shares in the last quarter. Thornburg Investment Management Inc. boosted its position in shares of Bridge Investment Group by 181.2% during the 1st quarter. Thornburg Investment Management Inc. now owns 783,353 shares of the company’s stock valued at $5,358,000 after acquiring an additional 504,812 shares during the last quarter. 1832 Asset Management L.P. purchased a new position in shares of Bridge Investment Group in the first quarter valued at $966,000. Finally, Albion Financial Group UT bought a new stake in Bridge Investment Group in the second quarter worth $37,000. Hedge funds and other 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.