Bridge Investment Group Holdings Inc. (NYSE:BRDG – Get Rating) has been assigned a consensus rating of “moderate buy” by the six brokerages that currently cover the company, reports Marketbeat Ratings. Two investment analysts gave the stock a hold rating and three gave the company a buy rating. The 12-month average price target among brokerages that have covered the stock over the past year is $19.40.
A number of analysts have commented on the stock. TheStreet downgraded the shares of Bridge Investment Group from a “c-” rating to a “d+” rating in a research report on Wednesday, October 19. Credit Suisse Group assumed coverage for Bridge Investment Group shares in a research report on Tuesday, October 18. They set a “neutral” rating and a price target of $15.00 on the stock. Morgan Stanley lowered its price target on Bridge Investment Group shares from $22.00 to $21.00 and set an “overweight” rating on the stock in a Wednesday, Oct. 19 research note. Wells Fargo & Company raised its price target on shares of Bridge Investment Group from $19.00 to $21.00 and gave the stock an “overweight” rating in a Wednesday, Aug. 10 research note. Finally, UBS Group raised its price target on shares of Bridge Investment Group from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Tuesday.
Institutional entries and exits
Several institutional investors have recently changed their positions in the company. Jennison Associates LLC increased its position in shares of Bridge Investment Group by 14.2% in the third quarter. Jennison Associates LLC now owns 2,544,286 shares of the company worth $36,892,000 after acquiring an additional 316,400 shares last quarter. Vanguard Group Inc. increased its position in Bridge Investment Group by 26.5% during the first quarter. Vanguard Group Inc. now owns 2,075,765 shares of the company valued at $42,241,000 after purchasing an additional 434,346 shares last quarter. 1832 Asset Management LP increased its position in Bridge Investment Group by 2.5% during the first quarter. 1832 Asset Management LP now owns 1,810,680 shares of the company valued at $36,346,000 after buying 44,118 additional shares last quarter. Conversant Capital LLC increased its position in Bridge Investment Group by 10.6% during the second quarter. Conversant Capital LLC now owns 1,367,926 shares of the company valued at $19,890,000 after purchasing an additional 131,000 shares last quarter. Finally, Lord Abbett & CO. LLC increased its position in Bridge Investment Group by 39.0% during the first quarter. Lord Abbett & CO. LLC now owns 557,049 shares of the company valued at $11,336,000 after purchasing an additional 156,156 shares last quarter. 59.49% of the shares are held by hedge funds and other institutional investors.
Bridge investment group shares fall 5.8%
BRDG stock opened at $15.12 on Tuesday. Bridge Investment Group has a 52-week low of $13.74 and a 52-week high of $25.61. The company has a market capitalization of $442.26 million, a price-earnings ratio of 10.22 and a beta of 1.67. The company’s 50-day moving average is $15.34 and its two-hundred-day moving average is $16.27. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt ratio of 0.45.
Bridge Investment Group cuts dividends
The company also recently announced a quarterly dividend, which will be paid on Friday, December 16. Shareholders of record on Friday, December 2 will receive a dividend of $0.27. This represents an annualized dividend of $1.08 and a dividend yield of 7.14%. The ex-dividend date is Thursday, December 1. Bridge Investment Group’s dividend payout ratio (DPR) is currently 81.08%.
Bridge Investment Group Company Profile
(Get an assessment)
Bridge Investment Group Holdings Inc is engaged in real estate investment management business in the United States. It manages capital on behalf of around 100 global institutions and 6,500 individual investors through approximately 25 investment vehicles. The company was founded in 2009 and is based in Salt Lake City, Utah.
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Before you consider Bridge Investment Group, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Bridge Investment Group didn’t make the list.
Although Bridge Investment Group currently has a “moderate buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the five actions here