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Bridge Investment Group Holdings, Inc. (BRDG)
:BRDG
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Bridge Investment Group
(NYSE:BRDG)
Rating:52Neutral
Price Target:
$10.00
▼(-2.63% Downside)
Positive Factors
Negative Factors
Fundraising Performance
Fundraising of $289m in the 3Q was 64% below expectations, and unchanged from a year ago.
Interest Rates
The recent move higher in 10-year yields risks further delaying the recovery.
Real Estate Market
The cyclical recovery in real estate is taking longer than expected to materialize, which pressures BRDG’s fundraising, fee-related earnings, performance fees, and earnings.
Bridge Investment Group (BRDG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.73B
Dividend Yield4.72%
Average Volume (3M)486.62K
Price to Earnings (P/E)72.2
Beta (1Y)1.71
Revenue Growth-1.09%
EPS Growth-120.06%
CountryUS
Employees2,250
SectorFinancial
Sector Strength65
IndustryAsset Management
Share Statistics
EPS (TTM)0.09
Shares Outstanding44,634,470
10 Day Avg. Volume286,430
30 Day Avg. Volume486,622
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)0.00
Price to Sales (P/S)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap0.40
Enterprise Value/Revenue2.67
Enterprise Value/Gross Profit6.39
Enterprise Value/Ebitda20.35
Forecast
1Y Price Target
$9.33Price Target Upside-9.15% Downside
Rating ConsensusHold
Number of Analyst Covering3
Bridge Investment Group Business Overview & Revenue Model
Company DescriptionBridge 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.
How the Company Makes MoneyBridge Investment Group primarily generates revenue through management fees and performance-based incentives. The company collects management fees based on the assets under management (AUM), which are charged to investors in its various real estate funds. Additionally, Bridge Investment Group earns performance fees, also known as carried interest, which are a percentage of the profits generated by their investments once certain financial benchmarks are met. The firm's revenue is further bolstered by property management fees, which are derived from managing and operating the properties within its portfolio. Significant partnerships with institutional investors and strategic acquisitions also contribute to the firm's earnings by expanding its asset base and enhancing its investment capabilities.
Bridge Investment Group Earnings Call Summary
Earnings Call Date:May 08, 2025
(Q3-2024)
| % Change Since: 9.14%|
Next Earnings Date:Aug 12, 2025
Earnings Call Sentiment Positive
The earnings call reflects an optimistic outlook with significant improvements and investments in key sectors such as logistics and debt strategies. Despite a decline in net income and challenges in transaction volumes, the company is well-positioned for future growth with substantial capital raised and positive market trends.Q3-2024 Updates
Positive Updates
Improvement in Real Estate Market
Robert Morse indicated that the long downturn in real estate has bottomed out, with activity picking up across asset classes. The sector is beginning to reemerge with more substantive dialogue with investors and more deals to evaluate.
Strong Performance in Logistics and Debt Strategies
In Q3, $349 million was deployed in multifamily and workforce assets, $40 million in logistics, and $966 million in debt strategies. The logistics vertical is seeing opportunities to stabilize assets at a 7% yield, and debt strategies had its largest lending quarter in over two years.
Significant Capital Raised
Approximately $607 million was raised in Q3, led by $429 million in debt strategies and $115 million in workforce and affordable housing. There was also $48 million in solar infrastructure.
Investments in New Capabilities and Markets
Bridge has expanded into logistics, PE secondaries, and renewable energy, with promising developments such as a new logistics team that raised $336 million in closed-end vehicles.
Positive Real Estate Valuation Trends
Green Street's commercial property price index is up 3% in 2024, and Bridge's portfolios were also positive for the quarter. The multifamily segment saw a weighted average IRR of 23.6% on dispositions.
Negative Updates
Decline in Net Income
GAAP net income was $10.6 million for Q3, with diluted net income per share of $0.04, reflecting a challenging environment.
Higher Compensation Expenses
Fee-related earnings decreased due to higher compensation-related expenses, which increased by approximately $3.1 million.
Insurance Losses
There was a net insurance loss of $1.6 million in Q3, compared to a gain of $2 million last quarter, impacting distributable earnings.
Muted Real Estate Transaction Volumes
Although there is momentum, overall real estate transaction volumes remain below normal levels, impacting revenue.
Company Guidance
During Bridge Investment Group's Q3 2024 earnings call, the leadership provided detailed guidance and discussed a variety of financial metrics. The company reported a GAAP net income of approximately $10.6 million, with net income attributable to Bridge per share of Class A common stock at $0.04. Distributable earnings of the operating company stood at $28.2 million or $0.15 per share after tax. The Board declared a dividend of $0.10 per share, payable on December 20 to shareholders of record as of December 6. In terms of capital deployment, $349 million was allocated to multifamily and workforce assets, $40 million to logistics assets, and $966 million in debt strategies. Fee-related revenue was $82.5 million, a 3% increase from the previous quarter, while fee-related earnings for the operating company were $32.4 million. The company anticipates continued growth, particularly in logistics and debt strategies, with a focus on institutional investors, which accounted for a significant portion of inflows in Q3. Looking ahead, Bridge expects robust capital deployment opportunities and a recovery in the real estate market, positioning it for further expansion in sectors with secular tailwinds.Bridge Investment Group Financial Statement Overview
Summary
Bridge Investment Group has a stable financial base with efficient cash flow management, reflected in a strong cash flow score of 75. However, challenges such as a negative net profit margin, high debt-to-equity ratio, and minimal revenue growth impact the overall financial health. The company needs to improve profitability and manage leverage better.Income Statement
The income statement shows modest growth and mixed profitability. The TTM data reveals a gross profit margin of 41.8%, which is healthy for the asset management industry. However, the net profit margin is negative at -3.66%, indicating a recent downturn in profitability. Revenue growth from the previous year was minimal at 0.14%, reflecting stagnant revenue performance. The EBIT margin is 15.65%, while the EBITDA margin stands at 13.13%, indicating operational efficiency but declining from prior periods.55
Neutral
Balance Sheet
The balance sheet indicates moderate financial stability. The debt-to-equity ratio is high at 6.34, suggesting significant leverage relative to equity. The return on equity (ROE) is negative at -20.63%, driven by the net loss in the TTM period. The equity ratio is low at 6.19%, indicating limited equity coverage of total assets. Overall, the company is moderately leveraged, which could pose risks if profitability does not improve.60
Neutral
Cash Flow
The cash flow statement reflects strong free cash flow generation, with a free cash flow of $111.2 million. The operating cash flow to net income ratio is robust due to positive operating cash flows despite a net loss. The company has a healthy liquidity position and effective cash management, which is a positive indicator for future operations and financial flexibility.75
Positive
| Breakdown | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 412.43M | 390.65M | 409.05M | 330.01M | 231.95M |
| Gross Profit | 161.11M | 172.57M | 183.15M | 149.41M | 117.75M |
| EBITDA | 46.70M | -37.55M | 119.00M | 84.64M | 70.50M |
| Net Income | 8.01M | -11.90M | 272.37M | 408.63M | 146.92M |
Balance Sheet | |||||
| Total Assets | 1.25B | 1.29B | 1.15B | 846.29M | 426.01M |
| Cash, Cash Equivalents and Short-Term Investments | 111.72M | 77.54M | 198.19M | 86.45M | 106.88M |
| Total Debt | 447.32M | 483.95M | 305.93M | 160.15M | 164.17M |
| Total Liabilities | 741.48M | 743.47M | 508.52M | 296.56M | 224.54M |
| Stockholders Equity | 83.42M | 74.91M | 79.10M | 71.79M | 186.09M |
Cash Flow | |||||
| Free Cash Flow | 145.21M | 172.41M | 225.13M | 208.10M | 129.83M |
| Operating Cash Flow | 145.21M | 174.81M | 228.35M | 209.22M | 130.10M |
| Investing Cash Flow | 10.67M | -343.21M | -21.88M | -114.26M | -47.81M |
| Financing Cash Flow | -120.71M | 42.39M | -97.08M | -118.45M | -35.04M |
Bridge Investment Group Technical Analysis
Positive
10.27
Price Trends
9.93
Positive
9.66
Positive
9.33
Positive
Market Momentum
0.04
Positive
50.62
Neutral
34.70
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BRDG, the sentiment is Positive. The current price of 10.27 is below the 20-day moving average (MA) of 10.45, above the 50-day MA of 9.93, and above the 200-day MA of 9.33, indicating a neutral trend. The MACD of 0.04 indicates Positive momentum. The RSI at 50.62 is Neutral, neither overbought nor oversold. The STOCH value of 34.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for BRDG.
Bridge Investment Group Risk Analysis
Bridge Investment Group disclosed 60 risk factors in its most recent earnings report. Bridge Investment Group reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Bridge Investment Group Peers Comparison
Overall Rating
UnderperformOutperform
Sector (65)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
82 Outperform | $3.89B | 10.93 | 32.69% | 2.58% | 5.92% | 54.93% | |
80 Outperform | $4.66B | 15.33 | 26.57% | 2.71% | 6.53% | 36.51% | |
76 Outperform | $4.49B | 12.11 | 18.55% | 8.47% | ― | 53.17% | |
74 Outperform | $3.62B | 12.16 | 67.97% | 7.92% | 9.98% | 12.97% | |
65 Neutral | £5.10B | 9.36 | 5.51% | 4.90% | 24.59% | -22.68% | |
64 Neutral | $2.32B | 88.01 | -12.68% | 3.77% | 17.33% | 1.83% | |
52 Neutral | $2.73B | 72.24 | -22.41% | 4.72% | -1.09% | -120.06% |
* Financial Sector Average
Performance Comparison
BRDG
Bridge Investment Group
10.27
3.28
46.92%
AB
AllianceBernstein
39.90
9.91
33.04%
FHI
Federated Hermes
51.41
20.28
65.15%
APAM
Artisan Partners
46.72
11.00
30.80%
VCTR
Victory Capital Holdings
69.24
25.16
57.08%
GCMG
GCM Grosvenor
11.94
1.92
19.16%
Bridge Investment Group Corporate Events
M&A TransactionsShareholder Meetings
Bridge Investment Group Approves Merger with Apollo
Neutral
Jun 18, 2025
On June 17, 2025, Bridge Investment Group Holdings Inc. held a special meeting where stockholders voted on two proposals. The first proposal, to adopt the Agreement and Plan of Merger with Apollo Global Management and other entities, was approved. The second proposal, to allow adjournment of the meeting if necessary to solicit additional proxies, was also approved.
The most recent analyst rating on (BRDG) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Bridge Investment Group stock, see the BRDG Stock Forecast page.
M&A TransactionsLegal Proceedings
Bridge Investment Group Faces Legal Challenges Over Merger
Negative
Jun 11, 2025
On February 23, 2025, Bridge Investment Group Holdings Inc. entered into a merger agreement with Apollo Global Management, which will result in Bridge becoming a wholly-owned subsidiary of Apollo. This merger has led to legal challenges from Bridge stockholders who allege deficiencies in the merger-related disclosures. Bridge has decided to supplement these disclosures to avoid litigation delays, although it denies any wrongdoing.
The most recent analyst rating on (BRDG) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Bridge Investment Group stock, see the BRDG Stock Forecast page.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.