Bridge Q3 2023 Earnings Report
Key Takeaways
Bridge Investment Group reported a GAAP Net Loss of $17.9 million for Q3 2023. Distributable Earnings of the Operating Company were $40.8 million, or $0.22 per share after-tax. The company declared a quarterly dividend of $0.17 per share of Class A common stock.
Recurring fund management fees grew 20% year-over-year.
Diversification within real estate, credit and secondaries provided stability.
$3.6 billion of dry powder positions the company for future opportunities.
Sale of Bridge Multifamily Fund III portfolio to Bridge Multifamily CV LP for approximately $550 million.
Bridge
Bridge
Bridge Revenue by Segment
Forward Guidance
Management expressed confidence in the company's diversified exposure and $3.6 billion of dry powder for future opportunities.
Revenue & Expenses
Visualization of income flow from segment revenue to net income