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 First Quarter 2024 Results

Bridge Investment Group Holdings Inc. (NYSE: BRDG) (“Bridge” or the “Company”) today reported its financial results for the quarter ended March 31, 2024.

Net Income (Loss) was $(36.8) million for the quarter ended March 31, 2024. On a basic and diluted basis, net income (loss) attributable to Bridge per share of Class A common stock was $0.24 and $(0.05), respectively, for the quarter ended March 31, 2024.

Distributable Earnings of Bridge Investment Group Holdings LLC (the “Operating Company”) were $32.2 million, or $0.17 per share after-tax, for the quarter ended March 31, 2024. Fee Related Earnings to the Operating Company were $33.9 million for the quarter ended March 31, 2024.

Robert Morse, Bridge’s Executive Chairman, stated “Bridge continues to have a resilient business with recurring management fees increasing 17% year-over-year. We are well positioned with the vast majority of our AUM concentrated within residential rental, logistics, credit and secondaries, which are set to benefit from multi-year fundamental tailwinds.”

Jonathan Slager, Bridge’s Chief Executive Officer, added “With a resetting of asset prices, we believe 2024 represents an attractive entry point to deploy capital. We have started to lean in on select investments, with $331.9 million of equity deployed during the quarter at fundamentally more attractive levels than our pre-pandemic investments.”

Common Dividend

Bridge declared a quarterly dividend of $0.12 per share of its Class A common stock, payable on June 14, 2024 to its Class A common stockholders of record at the close of business on May 31, 2024.

Additional Information

Bridge Investment Group Holdings Inc. issued a full detailed presentation of its first quarter 2024 results, which can be viewed on the Investors section of our website at www.bridgeig.com. The presentation is titled “First Quarter 2024 Earnings Presentation.”

Conference Call and Webcast Information

The Company will host a conference call on May 9, 2024 at 8:30 a.m. ET to discuss its first quarter 2024 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 First Quarter 2024 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 May 23, 2024 and can be accessed by dialing 1-877-660-6853 (domestic) or 1-201-612-7415 (international), and providing the passcode 13745959.

About Bridge

Bridge is a leading alternative investment manager, diversified across specialized asset classes, with approximately $48.0 billion of assets under management as of March 31, 2024. 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.