Sign In  |  Register  |  About Daly City  |  Contact Us

Daly City, CA
September 01, 2020 1:20pm
7-Day Forecast | Traffic
  • Search Hotels in Daly City

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Bridge Investment Group Holdings Inc. Reports Third Quarter 2023 Results

Bridge Investment Group Holdings Inc. (NYSE: BRDG) (“Bridge” or the “Company”) today reported its financial results for the quarter ended September 30, 2023.

Net Income (Loss) was $(17.9) million for the quarter ended September 30, 2023. On a basic and diluted basis, net income (loss) attributable to Bridge per share of Class A common stock was $(0.04).

Distributable Earnings of Bridge Investment Group Holdings LLC (the “Operating Company”) were $40.8 million, or $0.22 per share after-tax, for the quarter ended September 30, 2023. Fee Related Earnings to the Operating Company were $36.0 million for the quarter ended September 30, 2023.

Robert Morse, Bridge’s Executive Chairman, stated “Bridge delivered resilient third quarter results aided by 20% year-over-year growth in recurring fund management fees, despite continued market volatility creating headwinds in capital raising and deployment. Bridge remains well positioned by our differentiated exposure to some of the most attractive sectors within private markets underpinned by long-term demand drivers including residential rental, logistics, credit and secondaries strategies.”

Jonathan Slager, Bridge’s Chief Executive Officer, added “In uncertain times, Bridge’s diversification within real estate, credit and secondaries have served the Company well by providing additional stability to our long duration fee-earning AUM. Looking forward, our $3.6 billion of dry powder puts us in a strong position for when opportunities arise and conditions normalize.”

Common Dividend

Bridge declared a quarterly dividend of $0.17 per share of its Class A common stock, payable on December 15, 2023 to its Class A common stockholders of record at the close of business on December 1, 2023.

Additional Information

Bridge Investment Group Holdings Inc. issued a full detailed presentation of its third quarter 2023 results, which can be viewed on the Investors section of our website at www.bridgeig.com. The presentation is titled “Third Quarter 2023 Earnings Presentation.”

Conference Call and Webcast Information

The Company will host a conference call on November 8, 2023 at 8:30 a.m. ET to discuss its third quarter 2023 results. Interested parties may access the conference call live over the phone by dialing 1-877-405-1210 (domestic) or 1-201-689-8721 (international) and requesting Bridge Investment Group Holdings Inc.’s Third Quarter 2023 Earnings Conference Call. 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 22, 2023 and can be accessed by dialing 1-877-660-6853 (domestic) or 1-201-612-7415 (international), and providing the passcode 13741836.

About Bridge

Bridge is a leading alternative investment manager, diversified across specialized asset classes, with approximately $49.4 billion of assets under management as of September 30, 2023. Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select U.S. verticals across real estate, credit, renewable energy and secondaries strategies.

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.

Contacts

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 DalyCity.com & California Media Partners, LLC. All rights reserved.