DigitalBridge Group (NYSE:DBRG) Shares Down 5% After Analyst Downgrade

DigitalBridge Group, Inc. (NYSE:DBRG)’s stock price was down 5% on Monday after Raymond James lowered their price target on the stock from $19.00 to $16.00. Raymond James currently has a strong-buy rating on the stock. DigitalBridge Group traded as low as $12.69 and last traded at $12.74. Approximately 1,649,231 shares were traded during trading, a decline of 29% from the average daily volume of 2,312,324 shares. The stock had previously closed at $13.41.

A number of other brokerages also recently weighed in on DBRG. Truist Financial decreased their price objective on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. JPMorgan Chase & Co. lifted their price target on DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. B. Riley lowered their price target on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Finally, Wells Fargo & Company cut their price objective on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $18.59.

Institutional Investors Weigh In On DigitalBridge Group

A number of hedge funds have recently modified their holdings of DBRG. nVerses Capital LLC grew its stake in shares of DigitalBridge Group by 633.3% in the 2nd quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock valued at $30,000 after buying an additional 1,900 shares during the period. Central Pacific Bank Trust Division purchased a new position in DigitalBridge Group in the third quarter worth approximately $35,000. Blue Trust Inc. increased its stake in DigitalBridge Group by 179.2% during the third quarter. Blue Trust Inc. now owns 3,752 shares of the company’s stock worth $51,000 after acquiring an additional 2,408 shares during the last quarter. Headlands Technologies LLC raised its position in DigitalBridge Group by 33,627.3% in the second quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock valued at $102,000 after purchasing an additional 7,398 shares during the period. Finally, Xponance Inc. acquired a new position in shares of DigitalBridge Group in the 2nd quarter valued at $138,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Stock Performance

The firm has a market cap of $2.19 billion, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 2.36 and a beta of 1.94. The company has a 50 day moving average price of $14.32 and a 200 day moving average price of $13.92.

DigitalBridge Group (NYSE:DBRG) last posted its earnings results on Wednesday, August 7th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The company had revenue of $390.34 million during the quarter, compared to analyst estimates of $97.05 million. DigitalBridge Group had a net margin of 21.42% and a return on equity of 3.59%. On average, research analysts forecast that DigitalBridge Group, Inc. will post 0.16 earnings per share for the current year.

DigitalBridge Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.01 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.32%. DigitalBridge Group’s payout ratio is currently 5.48%.

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.