State Street Corp increased its position in shares of Bridge Investment Group Holdings Inc. (NYSE:BRDG – Free Report) by 12.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 128,711 shares of the company’s stock after buying an additional 13,800 shares during the quarter. State Street Corp’s holdings in Bridge Investment Group were worth $1,270,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quarry LP increased its holdings in shares of Bridge Investment Group by 22.5% during the second quarter. Quarry LP now owns 8,350 shares of the company’s stock valued at $62,000 after acquiring an additional 1,535 shares in the last quarter. Paloma Partners Management Co acquired a new stake in Bridge Investment Group in the 3rd quarter valued at $110,000. Bank of New York Mellon Corp increased its stake 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 valued at $411,000 after purchasing an additional 1,735 shares in the last quarter. Quest Partners LLC bought a new stake in Bridge Investment Group during the 3rd quarter valued at $448,000. Finally, Rockefeller Capital Management L.P. acquired a new position in Bridge Investment Group during the third quarter worth $638,000. Institutional investors own 52.83% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the stock. UBS Group boosted their target price on shares of Bridge Investment Group from $7.00 to $11.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Morgan Stanley lowered 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. TD Cowen dropped their target price 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. Finally, Wells Fargo & Company lifted their target price on Bridge Investment Group from $11.00 to $11.50 and gave the company 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 assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $11.00.
Bridge Investment Group Trading Down 2.5 %
NYSE:BRDG opened at $8.19 on Friday. Bridge Investment Group Holdings Inc. has a 52 week low of $6.18 and a 52 week high of $11.69. The firm has a 50-day moving average price of $9.59 and a two-hundred day moving average price of $8.85. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market cap of $991.68 million, a price-to-earnings ratio of 204.80 and a beta of 1.54.
Bridge Investment Group (NYSE:BRDG – Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). Bridge Investment Group had a net margin of 1.92% and a return on equity of 9.91%. The business had revenue of $101.51 million for the quarter, compared to analysts’ expectations of $85.00 million. During the same period in the previous year, the business posted $0.22 earnings per share. On average, equities analysts expect that Bridge Investment Group Holdings Inc. will post 0.68 earnings per share for the current fiscal year.
Bridge Investment Group Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend was Friday, December 6th. Bridge Investment Group’s dividend payout ratio (DPR) is currently 1,000.00%.
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.
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