Bridge Investment Group (NYSE:BRDG) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Bridge Investment Group (NYSE:BRDGGet Rating) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Bridge Investment Group Holdings Inc. is a vertically integrated real estate investment manager, diversified across specialized asset classes. The company combines operating platform with investment professionals focused on real estate verticals: multifamily, affordable housing, seniors housing, office, development, logistics net lease, logistics properties, debt strategies and agency mortgage backed securities. Bridge Investment Group Holdings Inc. is based in SALT LAKE CITY. “

Other research analysts have also recently issued reports about the company. Wells Fargo & Company reduced their target price on Bridge Investment Group from $24.00 to $22.00 and set an overweight rating for the company in a research report on Tuesday, April 19th. Morgan Stanley dropped their price objective on Bridge Investment Group from $26.00 to $25.00 and set an overweight rating for the company in a research note on Wednesday, April 20th. Finally, Citigroup dropped their price objective on Bridge Investment Group from $25.00 to $24.00 and set a buy rating for the company in a research note on Tuesday, April 12th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Buy and an average target price of $22.00.

Shares of Bridge Investment Group stock opened at $17.14 on Wednesday. Bridge Investment Group has a 12-month low of $14.05 and a 12-month high of $25.61. The company has a quick ratio of 2.81, a current ratio of 2.81 and a debt-to-equity ratio of 0.27. The stock has a 50 day moving average price of $18.94 and a two-hundred day moving average price of $20.58.

Bridge Investment Group (NYSE:BRDGGet Rating) last posted its quarterly earnings data on Monday, May 9th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.17. Bridge Investment Group had a return on equity of 17.23% and a net margin of 41.64%. On average, analysts predict that Bridge Investment Group will post 1.01 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 17th. Shareholders of record on Friday, June 3rd will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, June 2nd. This represents a $1.04 dividend on an annualized basis and a yield of 6.07%. This is a boost from Bridge Investment Group’s previous quarterly dividend of $0.21.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Burgundy Asset Management Ltd. boosted its holdings in Bridge Investment Group by 1.4% during the fourth quarter. Burgundy Asset Management Ltd. now owns 2,491,967 shares of the company’s stock worth $62,224,000 after buying an additional 34,217 shares during the last quarter. Jennison Associates LLC boosted its holdings in Bridge Investment Group by 1.9% during the first quarter. Jennison Associates LLC now owns 2,059,396 shares of the company’s stock worth $41,909,000 after buying an additional 37,884 shares during the last quarter. Franklin Resources Inc. bought a new position in Bridge Investment Group during the third quarter worth about $29,577,000. Conversant Capital LLC bought a new position in shares of Bridge Investment Group during the 4th quarter valued at about $30,463,000. Finally, Morgan Stanley bought a new position in shares of Bridge Investment Group during the 3rd quarter valued at about $14,000,000. Hedge funds and other institutional investors own 65.49% of the company’s stock.

About Bridge Investment Group (Get Rating)

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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