Bridge Investment reports Q3 EPS 17c, consensus 23c

Robert Morse, Bridge’s Executive Chairman, remarked "Bridge delivered another quarter of strong results with fundraising inflows of $1.3 billion, driven by continued demand for our flagship residential rental strategies, which contributed to a 38% increase in assets under management year over year to $43.8 billion. During the quarter we completed the final closing of our Workforce and Affordable Housing Fund II, which raised $1.74 billion in equity commitments, almost three times the amount raised in the predecessor fund. While the volatile market environment remains a headwind for the industry overall, we believe that our carefully curated focus on select U.S. real estate sectors backed by long-term secular tailwinds and a value-add approach remains attractive as an investment thesis for our investors worldwide."