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Bridge Investment Group (BRDG)
NYSE:BRDG
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Earnings Data
Report Date
Feb 26, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.17Last Year’s EPS
$0.14Same Quarter Last Year
Moderate Buy
Based on 5 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2024
|% Change Since: -24.59%
|Next Earnings Date:Feb 26, 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.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.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.
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BRDG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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BRDG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $11.10 | $9.90 | -10.81% |
| Aug 06, 2024 | $7.07 | $7.31 | +3.39% |
| May 08, 2024 | $6.66 | $6.66 | 0.00% |
| Feb 21, 2024 | $8.28 | $6.97 | -15.82% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Bridge Investment Group (BRDG) report earnings?
Bridge Investment Group (BRDG) is schdueled to report earning on Feb 26, 2025, TBA Not Confirmed.
What is Bridge Investment Group (BRDG) earnings time?
Bridge Investment Group (BRDG) earnings time is at Feb 26, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BRDG EPS forecast?
BRDG EPS forecast for the fiscal quarter 2024 (Q4) is $0.17.
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