Bridge Investment Group Holdings Inc. to Issue Dividend of $0.05 (NYSE:BRDG)

Key Points

• Bridge Investment Group Holdings Inc. has declared a dividend of $0.05 per share, resulting in a dividend yield of 179.0%, with the ex-dividend date set for August 15th.
• The company reported a quarterly earnings miss of $0.14 EPS, falling short of analysts' expectations of $0.22, and generated revenue of $73.23 million against an estimate of $75.50 million.
• Wells Fargo & Company has upgraded Bridge Investment Group's price target from $10.00 to $10.50, maintaining an "equal weight" rating amid a consensus "Hold" rating from five equities research analysts.

Bridge Investment Group Holdings Inc. (NYSE:BRDG - Get Free Report) declared a dividend on Tuesday, August 12th, investing.com reports. Investors of record on Monday, August 18th will be given a dividend of 0.045 per share on Friday, August 29th. This represents a dividend yield of 179.0%. The ex-dividend date is Friday, August 15th.

Bridge Investment Group has a payout ratio of 40.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Bridge Investment Group to earn $0.80 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 55.0%.

Bridge Investment Group Trading Up 0.1%

Shares of BRDG stock traded up $0.01 during trading hours on Thursday, reaching $9.98. 532,357 shares of the stock were exchanged, compared to its average volume of 461,708. Bridge Investment Group has a 12-month low of $7.12 and a 12-month high of $11.69. The company has a current ratio of 1.10, a quick ratio of 1.08 and a debt-to-equity ratio of 0.99. The company's 50-day moving average price is $10.07 and its 200-day moving average price is $9.45. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -23.77 and a beta of 1.41.

Bridge Investment Group (NYSE:BRDG - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.22 by ($0.08). Bridge Investment Group had a positive return on equity of 8.42% and a negative net margin of 3.03%. The firm had revenue of $73.23 million for the quarter, compared to analysts' expectations of $75.50 million. As a group, equities analysts anticipate that Bridge Investment Group will post 0.68 earnings per share for the current year.

Insider Activity at Bridge Investment Group

In other Bridge Investment Group news, Chairman Robert Randolph Morse sold 27,749 shares of the business's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $10.65, for a total value of $295,526.85. Following the completion of the sale, the chairman directly owned 3,077,962 shares of the company's stock, valued at $32,780,295.30. The trade was a 0.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jonathan Slager sold 9,562 shares of the business's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $10.65, for a total transaction of $101,835.30. Following the completion of the sale, the chief executive officer directly owned 912,067 shares of the company's stock, valued at approximately $9,713,513.55. This trade represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,949 shares of company stock valued at $1,458,376 in the last quarter. Corporate insiders own 65.90% of the company's stock.

Institutional Investors Weigh In On Bridge Investment Group

Large investors have recently modified their holdings of the business. Janney Montgomery Scott LLC bought a new stake in shares of Bridge Investment Group in the 1st quarter valued at about $400,000. Northern Trust Corp raised its holdings in shares of Bridge Investment Group by 19.2% in the 4th quarter. Northern Trust Corp now owns 89,937 shares of the company's stock valued at $755,000 after purchasing an additional 14,481 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Bridge Investment Group by 18.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 212,364 shares of the company's stock valued at $1,784,000 after purchasing an additional 33,378 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Bridge Investment Group in the 4th quarter valued at about $168,000. Finally, Mutual Advisors LLC bought a new stake in shares of Bridge Investment Group in the 1st quarter valued at about $515,000. 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.