DigitalBridge Group, Inc. (NYSE:DBRG) Stock Has Average Price Target of $16.00 According to Brokerages

DigitalBridge Group, Inc. (NYSE:DBRG) has been given an average recommendation of “Hold” by the nine research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $16.00.

DBRG has been the subject of a number of analyst reports. Wall Street Zen raised shares of DigitalBridge Group to a “hold” rating in a research note on Saturday, September 5th. Weiss Ratings cut shares of DigitalBridge Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, August 31st.

DigitalBridge Group Stock Up 0.1%

DBRG stock opened at $16.00 on Friday. DigitalBridge Group has a fifty-two week low of $8.94 and a fifty-two week high of $16.00. The firm’s 50-day simple moving average is $15.95 and its 200 day simple moving average is $15.78. The stock has a market cap of $3.00 billion, a PE ratio of 10.39 and a beta of 1.45.

DigitalBridge Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Wednesday, September 30th. DigitalBridge Group’s payout ratio is 2.60%.

Hedge Funds Weigh In On DigitalBridge Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC increased its holdings in shares of DigitalBridge Group by 135.1% during the second quarter. Tidal Investments LLC now owns 497,438 shares of the company’s stock valued at $7,850,000 after purchasing an additional 285,866 shares during the period. Engineers Gate Manager LP bought a new stake in shares of DigitalBridge Group during the second quarter valued at about $529,000. Nykredit A S bought a new stake in shares of DigitalBridge Group during the second quarter valued at about $49,000. Corient Private Wealth LP lifted its holdings in DigitalBridge Group by 98.3% in the second quarter. Corient Private Wealth LP now owns 19,985 shares of the company’s stock worth $315,000 after purchasing an additional 9,909 shares during the period. Finally, OceanIQ Capital LLC acquired a new stake in DigitalBridge Group in the second quarter worth about $461,000. 92.69% of the stock is owned by institutional investors.

About DigitalBridge Group

DigitalBridge Group, Inc (NYSE: DBRG) is an alternative asset manager focused on digital infrastructure. The company manages investment strategies and invests in businesses that support the growth of digital communications and data services, including data centers, wireless infrastructure, fiber networks, small cells, edge infrastructure and related technologies.

Through its investment platforms and portfolio companies, DigitalBridge provides capital and strategic support to infrastructure owners and operators serving telecommunications companies, cloud providers, enterprises and other technology customers.