Bridge Investment Group (NYSE: BRDG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released Friday, Zacks.com reports. The company currently has a target price of $ 23.00 on the stock. Zacks Investment Research’s target price indicates a potential rise of 8.70% from the company’s current price.
According to Zacks, “Bridge Investment Group Holdings Inc. is a vertically integrated real estate investment manager, diversified into specialized asset classes. development, net leasing logistics, logistics properties, debt strategies and agency mortgage backed securities. Bridge Investment Group Holdings Inc. is based at SALT LAKE CITY. “
Separately, Morgan Stanley raised its price target on Bridge Investment Group from $ 21.00 to $ 22.00 and assigned the company an “overweight” rating in a research report published on Friday, August 20. One equity research analyst rated the stock with a conservation rating and five gave the company a buy rating. According to data from MarketBeat.com, Bridge Investment Group currently has an average “Buy” rating and a consensus target price of $ 19.33.
BRDG shares traded up $ 0.52 during Friday’s midday session, reaching $ 21.16. 123,464 shares of the security were traded, for an average volume of 231,029. Bridge Investment Group has a 52-week low of $ 14.05 and a 52-week high of $ 23.48. The company has a current ratio of 3.53, a quick ratio of 3.53, and a debt ratio of 0.35. The company has a 50-day moving average price of $ 18.96.
Bridge Investment Group (NYSE: BRDG) last released its quarterly earnings data on Thursday, November 11. The company reported earnings per share of $ 0.26 for the quarter, beating consensus analysts’ estimates of $ 0.16 by $ 0.10. Bridge Investment Group achieved a return on equity of 57.52% and a net margin of 79.90%. The company reported sales of $ 92.17 million for the quarter. On average, equity research analysts predict that Bridge Investment Group will post EPS of 0.9 for the current year.
A number of institutional investors and hedge funds have recently changed their holdings in BRDG. Jennison Associates LLC acquired a new stake in Bridge Investment Group in the third quarter for a value of approximately $ 32,457,000. BlackRock Inc. acquired a new equity interest in Bridge Investment Group shares in the third quarter valued at approximately $ 1,449,000. Teacher Retirement System of Texas acquired a new equity stake in Bridge Investment Group in the third quarter valued at approximately $ 4,418,000. Full18 Capital LLC acquired a new stake in the shares of Bridge Investment Group in the third quarter valued at approximately $ 963,000. Finally, Geode Capital Management LLC acquired a new stake in the shares of Bridge Investment Group in the third quarter valued at approximately $ 2,125,000.
Bridge Investment Group Company Profile
Bridge Investment Group Holdings Inc is a vertically integrated real estate investment manager diversified into specialized asset classes. The company combines an operating platform with investment professionals focused on real estate verticals: multi-family, affordable housing, senior housing, offices, development, logistics net rental, logistics properties, development strategies. agency debt and mortgage-backed securities.
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