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

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

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

Bridge Investment Group Stock Performance

Bridge Investment Group stock opened at $10.71 on Tuesday. Bridge Investment Group has a fifty-two week low of $6.18 and a fifty-two week high of $10.95. The stock’s 50 day simple moving average is $9.18 and its two-hundred day simple moving average is $8.03. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.21 and a current ratio of 1.21. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -44.63 and a beta of 1.65.

Bridge Investment Group (NYSE:BRDG) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $79.05 million. Bridge Investment Group had a return on equity of 16.35% and a net margin of 0.82%. During the same period in the previous year, the company posted $0.20 earnings per share. As a group, analysts expect that Bridge Investment Group will post 0.77 earnings per share for the current fiscal year.

Bridge Investment Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.13 dividend. This is a positive change from Bridge Investment Group’s previous quarterly dividend of $0.12. The ex-dividend date was Friday, August 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 4.86%. Bridge Investment Group’s dividend payout ratio (DPR) is presently -216.67%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Albion Financial Group UT purchased a new position in Bridge Investment Group in the 2nd quarter worth about $37,000. Quarry LP grew its stake in shares of Bridge Investment Group by 22.5% in the second 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 period. HBK Sorce Advisory LLC grew its stake in shares of Bridge Investment Group by 23.4% in the first 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 period. Bank of New York Mellon Corp raised its holdings in shares of Bridge Investment Group by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 55,328 shares of the company’s stock valued at $411,000 after purchasing an additional 1,735 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in Bridge Investment Group by 22.0% during the second quarter. Marshall Wace LLP now owns 114,769 shares of the company’s stock valued at $852,000 after purchasing an additional 20,726 shares during the period. 52.83% of the stock is owned by institutional investors.

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.