DigitalBridge Group (NYSE:DBRG) Given New $23.00 Price Target at JPMorgan Chase & Co.

DigitalBridge Group (NYSE:DBRG) had its price target cut by JPMorgan Chase & Co. from $25.00 to $23.00 in a research report released on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Separately, Truist Financial boosted their price objective on shares of DigitalBridge Group from $20.00 to $22.00 and gave the company a buy rating in a research report on Tuesday, April 16th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, DigitalBridge Group has a consensus rating of Buy and a consensus target price of $21.75.

DigitalBridge Group Stock Down 14.2 %

Shares of NYSE:DBRG opened at $14.11 on Wednesday. DigitalBridge Group has a 12-month low of $10.20 and a 12-month high of $20.99. The stock has a market cap of $2.31 billion, a PE ratio of 9.10 and a beta of 1.95. The business has a 50 day moving average of $18.25 and a 200-day moving average of $17.76.

DigitalBridge Group (NYSE:DBRG) last issued its quarterly earnings results on Tuesday, February 20th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.06. The business had revenue of $350.31 million during the quarter, compared to analysts’ expectations of $287.41 million. DigitalBridge Group had a return on equity of 2.91% and a net margin of 26.64%. Equities research analysts expect that DigitalBridge Group will post 0.25 earnings per share for the current year.

DigitalBridge Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Sunday, March 31st were issued a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.04 dividend on an annualized basis and a yield of 0.28%. DigitalBridge Group’s payout ratio is 2.58%.

Institutional Trading of DigitalBridge Group

A number of institutional investors and hedge funds have recently bought and sold shares of DBRG. Raymond James & Associates increased its holdings in DigitalBridge Group by 73.7% in the third quarter. Raymond James & Associates now owns 114,123 shares of the company’s stock valued at $2,006,000 after purchasing an additional 48,424 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in DigitalBridge Group in the third quarter valued at $586,000. Independent Advisor Alliance increased its holdings in DigitalBridge Group by 4.5% in the third quarter. Independent Advisor Alliance now owns 17,076 shares of the company’s stock valued at $300,000 after purchasing an additional 734 shares during the period. Bank of New York Mellon Corp increased its holdings in DigitalBridge Group by 5.7% in the third quarter. Bank of New York Mellon Corp now owns 712,822 shares of the company’s stock valued at $12,531,000 after purchasing an additional 38,170 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in DigitalBridge Group by 21.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,455 shares of the company’s stock valued at $623,000 after acquiring an additional 6,160 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

DigitalBridge Group Company Profile

DigitalBridge is an infrastructure investment firm specializing in digital infrastructure assets. They provide services to institutional investors. They primarily invest in data centers, cell towers, fiber networks, small cells, and edge infrastructure. DigitalBridge Group, Inc was founded in 1991 and is headquartered in Boca Raton, Florida with additional offices in Los Angles, California, and New York New York.