TD Cowen Cuts Bridge Investment Group (NYSE:BRDG) Price Target to $10.00

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

A number of other brokerages also recently commented on BRDG. Morgan Stanley downgraded shares of Bridge Investment Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $14.00 to $11.00 in a report on Friday, November 8th. Wells Fargo & Company increased their target price on shares of Bridge Investment Group from $11.00 to $11.50 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Finally, UBS Group raised 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. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $11.00.

Bridge Investment Group Stock Down 3.4 %

Shares of BRDG opened at $9.81 on Tuesday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 0.85. The business has a fifty day moving average of $9.83 and a 200 day moving average of $8.39. The company has a market cap of $1.19 billion, a PE ratio of 245.31 and a beta of 1.63. Bridge Investment Group has a 52-week low of $6.18 and a 52-week high of $11.69.

Bridge Investment Group (NYSE:BRDG) last released its quarterly earnings data 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 net margin of 1.92% and a return on equity of 9.90%. The company had revenue of $101.51 million during the quarter, compared to analysts’ expectations of $85.00 million. During the same period last year, the firm earned $0.22 earnings per share. On average, sell-side analysts expect that Bridge Investment Group will post 0.72 EPS for the current year.

Bridge Investment Group Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.10 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.40 dividend on an annualized basis and a yield of 4.08%. Bridge Investment Group’s dividend payout ratio (DPR) is 1,300.33%.

Institutional Trading of Bridge Investment Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP boosted its stake in shares of 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 in the last quarter. Bank of New York Mellon Corp boosted its holdings in Bridge Investment Group by 3.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 55,328 shares of the company’s stock worth $411,000 after buying an additional 1,735 shares during the last quarter. HBK Sorce Advisory LLC raised its holdings in shares of 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 acquiring an additional 4,035 shares during the last quarter. Albion Financial Group UT acquired a new stake in shares of Bridge Investment Group in the second quarter worth approximately $37,000. Finally, Lord Abbett & CO. LLC boosted its stake in shares of Bridge Investment Group by 0.8% in the first 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 during the last quarter. Institutional investors and hedge funds own 52.83% of the company’s stock.

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.