Bridge Investment Group (NYSE:BRDG) Given New $20.00 Price Target at Morgan Stanley

Bridge Investment Group (NYSE:BRDG – Get Rating) had its price objective decreased by Morgan Stanley from $21.00 to $20.00 in a research report released on Tuesday morning, Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Several other brokerages have also weighed in on BRDG. UBS Group increased their target price on Bridge Investment Group from $15.00 to $16.00 and gave the stock a neutral rating in a research report on Tuesday, November 15th. Wells Fargo & Company cut their target price on Bridge Investment Group from $19.00 to $18.00 and set an overweight rating on the stock in a research report on Wednesday, January 11th. Credit Suisse Group set a $13.50 target price on Bridge Investment Group in a research report on Wednesday, November 23rd. TheStreet lowered Bridge Investment Group from a c- rating to a d+ rating in a research report on Wednesday, October 19th. Finally, Piper Sandler assumed coverage on Bridge Investment Group in a research report on Thursday, January 5th. They issued an overweight rating on the stock. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $18.30.

Bridge Investment Group Price Performance

BRDG stock opened at $14.65 on Tuesday. Bridge Investment Group has a 52-week low of $11.88 and a 52-week high of $23.78. The stock’s fifty day simple moving average is $13.78 and its 200-day simple moving average is $15.12. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $428.47 million, a price-to-earnings ratio of 9.90 and a beta of 1.63.

Bridge Investment Group (NYSE:BRDG – Get Rating) last issued its earnings results on Tuesday, November 8th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.05. The business had revenue of $110.42 million for the quarter. Bridge Investment Group had a return on equity of 4.35% and a net margin of 9.45%. Equities research analysts expect that Bridge Investment Group will post 1.11 EPS for the current year.

Bridge Investment Group Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 16th. Stockholders of record on Friday, December 2nd were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 7.37%. The ex-dividend date was Thursday, December 1st. Bridge Investment Group’s payout ratio is 72.97%.

Institutional Trading of Bridge Investment Group

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp increased its position in shares of Bridge Investment Group by 28.1% during the third quarter. Bank of New York Mellon Corp now owns 83,103 shares of the company’s stock worth $1,205,000 after acquiring an additional 18,254 shares during the last quarter. BNP Paribas Arbitrage SNC purchased a new stake in shares of Bridge Investment Group during the third quarter worth about $318,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Bridge Investment Group during the third quarter worth about $277,000. Two Sigma Advisers LP increased its position in shares of Bridge Investment Group by 21.0% during the third quarter. Two Sigma Advisers LP now owns 30,500 shares of the company’s stock worth $442,000 after acquiring an additional 5,300 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Bridge Investment Group by 1.9% during the third quarter. Vanguard Group Inc. now owns 2,446,292 shares of the company’s stock worth $35,471,000 after acquiring an additional 45,059 shares during the last quarter. 59.37% of the stock is owned by hedge funds and other institutional investors.

About Bridge Investment Group

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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.