DigitalBridge Group, Inc. (NYSE:DBRG) Receives $19.22 Consensus Target Price from Brokerages

DigitalBridge Group, Inc. (NYSE:DBRG) has received a consensus rating of “Buy” from the eight ratings firms that are presently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers 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. Truist Financial dropped their target price on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Keefe, Bruyette & Woods cut their price objective on shares of DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating on the stock in a research report on Tuesday, June 18th. B. Riley lowered their target price on shares of DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. JPMorgan Chase & Co. upped their price target on shares of DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Raymond James decreased their price objective on shares of DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating for the company in a research note on Thursday, August 8th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. increased its position in DigitalBridge Group by 4.1% during the 2nd quarter. Victory Capital Management Inc. now owns 22,165 shares of the company’s stock valued at $304,000 after purchasing an additional 870 shares during the period. Arizona State Retirement System raised its stake in DigitalBridge Group by 1.9% in the second quarter. Arizona State Retirement System now owns 45,735 shares of the company’s stock worth $627,000 after buying an additional 872 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in DigitalBridge Group by 7.2% during the fourth quarter. Teacher Retirement System of Texas now owns 13,399 shares of the company’s stock worth $235,000 after buying an additional 905 shares during the period. King Luther Capital Management Corp increased its holdings in shares of DigitalBridge Group by 1.3% in the 2nd quarter. King Luther Capital Management Corp now owns 71,038 shares of the company’s stock valued at $973,000 after acquiring an additional 942 shares during the period. Finally, nVerses Capital LLC lifted its stake in shares of DigitalBridge Group by 633.3% during the 2nd quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock worth $30,000 after purchasing an additional 1,900 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

DigitalBridge Group Stock Performance

Shares of DBRG opened at $14.59 on Thursday. The stock has a market capitalization of $2.53 billion, a PE ratio of 9.41, a P/E/G ratio of 2.59 and a beta of 1.96. The company’s fifty day moving average is $13.13 and its 200 day moving average is $14.45. DigitalBridge Group has a fifty-two week low of $11.07 and a fifty-two week high of $20.99.

DigitalBridge Group (NYSE:DBRG) last posted its earnings results on Wednesday, August 7th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). DigitalBridge Group had a return on equity of 4.49% and a net margin of 35.10%. The business had revenue of $390.34 million during the quarter, compared to the consensus estimate of $97.05 million. As a group, research analysts forecast that DigitalBridge Group will post 0.16 earnings per share for the current year.

DigitalBridge Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.01 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.27%. DigitalBridge Group’s payout ratio is 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.