Brokerages Set DigitalBridge Group, Inc. (NYSE:DBRG) PT at $16.00

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) have received a consensus rating of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $16.00.

Several brokerages recently commented on DBRG. Truist Financial began coverage on shares of DigitalBridge Group in a research note on Tuesday, March 31st. They issued a “buy” rating and a $16.00 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of DigitalBridge Group in a report on Friday, May 29th.

Hedge Funds Weigh In On DigitalBridge Group

Several large investors have recently bought and sold shares of DBRG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of DigitalBridge Group by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,556 shares of the company’s stock worth $834,000 after purchasing an additional 4,122 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in DigitalBridge Group by 45.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,225,993 shares of the company’s stock valued at $19,633,000 after buying an additional 693,613 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in DigitalBridge Group by 5.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 392,094 shares of the company’s stock valued at $3,458,000 after buying an additional 21,930 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in DigitalBridge Group by 12.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 11,746 shares of the company’s stock worth $122,000 after buying an additional 1,309 shares during the period. Finally, Cetera Investment Advisers boosted its position in DigitalBridge Group by 39.1% during the 2nd quarter. Cetera Investment Advisers now owns 21,360 shares of the company’s stock worth $221,000 after buying an additional 6,000 shares during the period. 92.69% of the stock is currently owned by institutional investors.

DigitalBridge Group Trading Down 0.1%

DBRG opened at $15.76 on Wednesday. The company has a market cap of $2.87 billion, a P/E ratio of 32.15 and a beta of 1.46. The company’s 50 day moving average is $15.70 and its 200-day moving average is $15.47. DigitalBridge Group has a 1-year low of $8.94 and a 1-year high of $15.82.

DigitalBridge Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.01 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. DigitalBridge Group’s payout ratio is currently 8.16%.

About DigitalBridge Group

DigitalBridge Group, Inc (NYSE: DBRG) is a specialized global investment firm focused exclusively on digital infrastructure. The company originates, acquires, and manages a diversified portfolio of businesses that support the digital economy, including data centers, cell towers, small cells, fiber networks, edge infrastructure and related services. DigitalBridge seeks to generate sustainable, long-term returns for its investors by deploying capital into high-growth sectors driven by increasing data consumption, 5G deployment and cloud adoption.

Through its dedicated investment platforms, DigitalBridge provides equity and debt financing solutions to operators and owners of digital infrastructure assets.