Bridge Investment slides after JPM downgrades to 'neutral'

Bridge Investment group

07/01/2025 19:10

** Shares of alternative investment manager Bridge
Investment Group  BRDG.N  slide as much as 9.4%; last down 6.4%
at $7.77
    ** J.P. Morgan downgrades BRDG to "neutral" from
"overweight"; cuts PT to $10 from $12, which is still a 20.5%
upside to stock's last close
    ** Brokerage notes that the operating environment in the
real estate segment has changed substantially under the new
higher-for-longer rate regime, which presents new risks for real
estate-centric managers such as BRDG
    ** Adds that BRDG's Fund VI fundraising has been challenged
thus far, due to which it has lowered the fundraising estimates 
    
    ** BRDG could see slower growth if recent commercial real
estate underperformance compared to other asset classes persists
  
    ** One of five brokerages rate the stock "buy" and four
"hold"; median PT $10.50 - LSEG data    
    ** BRDG stock fell 14.1% in 2024


 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))