DigitalBridge Group, Inc. (NYSE:DBRG) Given Average Recommendation of “Buy” by Analysts

DigitalBridge Group, Inc. (NYSE:DBRG) has earned a consensus rating of “Buy” from the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $19.22.

DBRG has been the subject of a number of recent research reports. B. Riley decreased their price objective on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Truist Financial dropped their price objective on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Wells Fargo & Company lowered their target price on shares of DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft cut their price target on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Finally, Raymond James dropped their target price on DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating on the stock in a research report on Thursday, August 8th.

Institutional Trading of DigitalBridge Group

Several large investors have recently modified their holdings of the business. Massachusetts Financial Services Co. MA acquired a new position in shares of DigitalBridge Group in the second quarter worth $39,033,000. Norges Bank purchased a new position in shares of DigitalBridge Group during the fourth quarter valued at approximately $31,651,000. New South Capital Management Inc. boosted its position in DigitalBridge Group by 40.1% during the second quarter. New South Capital Management Inc. now owns 3,929,762 shares of the company’s stock worth $53,838,000 after acquiring an additional 1,125,549 shares during the last quarter. Wafra Inc. raised its holdings in DigitalBridge Group by 7.1% in the 2nd quarter. Wafra Inc. now owns 15,455,808 shares of the company’s stock valued at $211,745,000 after acquiring an additional 1,020,409 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of DigitalBridge Group by 54.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,686,145 shares of the company’s stock worth $36,797,000 after purchasing an additional 952,408 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

DigitalBridge Group Stock Performance

Shares of DBRG stock opened at $12.01 on Friday. DigitalBridge Group has a 1 year low of $11.96 and a 1 year high of $20.99. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 7.75, a PEG ratio of 1.22 and a beta of 2.00. The stock’s 50-day moving average is $13.11 and its two-hundred day moving average is $15.10.

DigitalBridge Group (NYSE:DBRG) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). The firm had revenue of $390.34 million during the quarter, compared to analyst estimates of $97.05 million. DigitalBridge Group had a net margin of 35.10% and a return on equity of 4.49%. As a group, research analysts predict that DigitalBridge Group will post 0.28 EPS for the current year.

DigitalBridge Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date is Monday, September 30th. DigitalBridge Group’s payout ratio is currently 2.58%.

About DigitalBridge Group

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.