Bridge Investment Group Holdings Inc. reported a net income of $10.6 million for the quarter ended September 30, 2024. On a basic and diluted basis, net income attributable to Bridge per share of Class A common stock was $0.11 and $0.04, respectively.
Fee Related Earnings to the Operating Company reached $32.4 million for the third quarter of 2024. Distributable Earnings of the Operating Company amounted to $28.2 million, translating to $0.15 per share after-tax.
The company declared a quarterly dividend of $0.10 per share of its Class A common stock. This dividend is scheduled to be paid on December 20, 2024, to shareholders of record at the close of business on December 6, 2024.
Robert Morse, Bridge’s Executive Chairman, stated that Bridge’s operations and financial results remain resilient. He expressed optimism regarding the business outlook as commercial real estate conditions continue to strengthen.
Morse further noted that improvements in debt markets and capital costs have led to early signs of recovery in volumes and valuations. These factors collectively indicate a positive future for Bridge as the real estate recovery unfolds over time.
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