Bridge Investment Group Holdings Inc. Reports Third Quarter 2024 Results
Bridge Investment Group Holdings (NYSE: BRDG) reported its Q3 2024 financial results with net income of $10.6 million. The company achieved Fee Related Earnings of $32.4 million and Distributable Earnings of $28.2 million, or $0.15 per share after-tax. Net income per Class A share was $0.11 basic and $0.04 diluted. Bridge declared a quarterly dividend of $0.10 per Class A share, payable December 20, 2024. Management expressed optimism about improving commercial real estate conditions, citing strengthening debt markets, early recovery signs in volumes and valuations, and favorable supply/demand dynamics.
Bridge Investment Group Holdings (NYSE: BRDG) ha riportato i risultati finanziari del terzo trimestre 2024 con un utile netto di 10,6 milioni di dollari. L'azienda ha raggiunto entrate correlate alle commissioni di 32,4 milioni di dollari e entrate distribuibili di 28,2 milioni di dollari, pari a 0,15 dollari per azione dopo le tasse. L’utile netto per azione di Classe A è stato di 0,11 dollari base e 0,04 dollari diluito. Bridge ha dichiarato un dividendo trimestrale di 0,10 dollari per azione di Classe A, pagabile il 20 dicembre 2024. La direzione ha espresso ottimismo riguardo al miglioramento delle condizioni del settore immobiliare commerciale, citando il rafforzamento dei mercati del debito, segnali di recupero precoce nei volumi e nelle valutazioni, e dinamiche favorevoli di domanda/offerta.
Bridge Investment Group Holdings (NYSE: BRDG) informó sus resultados financieros del tercer trimestre de 2024, con ingresos netos de 10.6 millones de dólares. La compañía logró ingresos relacionados con comisiones de 32.4 millones de dólares y ingresos distribuibles de 28.2 millones de dólares, o 0.15 dólares por acción después de impuestos. El ingreso neto por acción de Clase A fue de 0.11 dólares básico y 0.04 dólares diluido. Bridge declaró un dividendo trimestral de 0.10 dólares por acción de Clase A, pagadero el 20 de diciembre de 2024. La dirección expresó optimismo sobre la mejora de las condiciones en el sector inmobiliario comercial, citando el fortalecimiento de los mercados de deuda, señales tempranas de recuperación en los volúmenes y valoraciones, y dinámicas favorables de oferta/demanda.
브릿지 투자 그룹 홀딩스 (NYSE: BRDG)는 2024년 3분기 재무 결과를 발표하며 순이익 1,060만 달러를 기록했습니다. 회사는 수수료 관련 수익 3,240만 달러와 배당 가능한 수익 2,820만 달러, 세후 주당 0.15달러를 달성했습니다. 클래스 A 주당 순이익은 기본 0.11달러, 희석 0.04달러였습니다. 브릿지는 클래스 A 주당 분기 배당금 0.10달러를 선언했으며, 2024년 12월 20일 지급될 예정입니다. 경영진은 부동산 상업 환경의 개선에 대한 낙관적인 전망을 밝혔으며, 부채 시장의 강화, 거래량 및 평가의 조기 회복 징후, 그리고 유리한 공급/수요 역학을 언급했습니다.
Bridge Investment Group Holdings (NYSE: BRDG) a publié ses résultats financiers du troisième trimestre 2024 avec un bénéfice net de 10,6 millions de dollars. L'entreprise a réalisé des revenus liés aux frais de 32,4 millions de dollars et des revenus distribuables de 28,2 millions de dollars, soit 0,15 dollar par action après impôts. Le bénéfice net par action de Classe A était de 0,11 dollar de base et 0,04 dollar dilué. Bridge a déclaré un dividende trimestriel de 0,10 dollar par action de Classe A, payable le 20 décembre 2024. La direction a exprimé son optimisme quant à l'amélioration des conditions sur le marché immobilier commercial, citant le renforcement des marchés de la dette, des signes précoces de reprise dans les volumes et les évaluations, ainsi que des dynamiques favorables d'offre/demande.
Bridge Investment Group Holdings (NYSE: BRDG) hat seine finanziellen Ergebnisse für das 3. Quartal 2024 mit einem Nettoergebnis von 10,6 Millionen US-Dollar veröffentlicht. Das Unternehmen erzielte gebührenbezogene Erträge von 32,4 Millionen US-Dollar und verteilbare Erträge von 28,2 Millionen US-Dollar, was 0,15 US-Dollar pro Aktie nach Steuern entspricht. Das Nettoergebnis pro Klasse A Aktie betrug 0,11 US-Dollar basis und 0,04 US-Dollar diluiert. Bridge erklärte eine vierteljährliche Dividende von 0,10 US-Dollar pro Klasse A Aktie, zahlbar am 20. Dezember 2024. Der Vorstand äußerte Optimismus über die Verbesserung der Bedingungen im gewerblichen Immobilienbereich und nannte die Stärkung der Schuldenmärkte, frühe Anzeichen einer Erholung in den Volumina und Bewertungen sowie günstige Angebot/Nachfrage-Dynamiken.
- Net income of $10.6 million for Q3 2024
- Fee Related Earnings of $32.4 million
- Distributable Earnings of $28.2 million ($0.15 per share after-tax)
- Quarterly dividend maintained at $0.10 per share
- Diluted EPS ($0.04) significantly lower than basic EPS ($0.11)
Insights
The Q3 results show mixed performance with
The company's commentary on improving debt markets and early signs of recovery in commercial real estate volumes and valuations is noteworthy. However, current earnings metrics show pressure compared to previous periods. The focus on specialized verticals and favorable supply/demand dynamics could provide future growth catalysts, but near-term challenges in the commercial real estate market may continue to impact performance.
Net Income was
Fee Related Earnings to the Operating Company were
Distributable Earnings of Bridge Investment Group Holdings LLC (the “Operating Company”) were
Robert Morse, Bridge’s Executive Chairman, stated “Bridge’s operations and financial results remain resilient and we are optimistic about the outlook for our business as commercial real estate conditions continue to strengthen. Notably, improvements in debt markets and capital costs have led to early signs of recovery in volumes and valuations. While the recovery will play out over time, the convergence of strong secular tailwinds in many of our specialized verticals, favorable supply/demand dynamics, reset asset prices and normalizing borrowing conditions all indicate a positive future for Bridge.”
Common Dividend
Bridge declared a quarterly dividend of
Additional Information
Bridge Investment Group Holdings Inc. issued a full detailed presentation of its third quarter 2024 results, which can be viewed on the Investors section of our website at www.bridgeig.com. The presentation is titled “Third Quarter 2024 Earnings Presentation.”
Conference Call and Webcast Information
The Company will host a conference call on November 7, 2024 at 9:30 a.m. ET to discuss its third quarter 2024 results. Interested parties may access the conference call live over the phone by dialing 1-800-715-9871 (domestic) or 1-646-307-1963 (international) and requesting Bridge Investment Group Holdings Inc.’s Third Quarter 2024 Earnings Conference Call and referencing the conference ID 4102109. Participants are asked to dial in a few minutes prior to the call to register for the event. The event will also be available live via webcast which can be accessed here or from our Investor Relations website https://ir.bridgeig.com.
An audio replay of the conference call will be available approximately three hours after the conference call until 11:59 p.m. ET on November 21, 2024 and can be accessed by dialing 1-877-660-6853 (domestic) or 1-201-612-7415 (international), and providing the passcode 13749641.
About Bridge Investment Group
Bridge is a leading alternative investment manager, diversified across specialized asset classes, with approximately
Forward-Looking Statements
This earnings release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which relate to future events or our future performance or financial condition. All statements other than statements of historical facts may be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “outlook,” “could,” “believes,” “expects,” “potential,” “opportunity,” “continues,” “may,” “will,” “should,” “over time,” “seeks,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” “foresees” or negative versions of those words, other comparable words or other statements that do not relate to historical or factual matters. Accordingly, we caution you that any such forward-looking statements are based on our beliefs, assumptions and expectations as of the date made, taking into account all information available to us at that time. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties that are difficult to predict and beyond our control. Actual results may differ materially from those express or implied in the forward-looking statements as a result of a number of factors, including but not limited to those risks described from time to time in our filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made. Bridge undertakes no duty to publicly update any forward-looking statements made herein or on the webcast/conference call or otherwise, whether as a result of new information, future developments or otherwise, except as required by law.
Nothing in this press release constitutes an offer to sell or solicitation of an offer to buy any securities of the Company or any investment fund managed by the Company or its affiliates.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241106068784/en/
Shareholder Relations:
Bonni Rosen
Bridge Investment Group Holdings Inc.
shareholderrelations@bridgeig.com
Media:
Charlotte Morse
Bridge Investment Group Holdings Inc.
(877) 866-4540
charlotte.morse@bridgeig.com
Source: Bridge Investment Group Holdings Inc.
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