Analysts Set DigitalBridge Group, Inc. (NYSE:DBRG) Price Target at $18.13

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) have been assigned an average recommendation of “Buy” from the eight analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $17.88.

Several analysts recently weighed in on DBRG shares. Keefe, Bruyette & Woods downgraded DigitalBridge Group from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $17.75 to $14.00 in a research note on Wednesday, November 6th. JPMorgan Chase & Co. raised their price target on DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Truist Financial lowered their price target on DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft cut their price objective on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Finally, Raymond James decreased their target price on shares of DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a report on Tuesday, November 5th.

Hedge Funds Weigh In On DigitalBridge Group

Several hedge funds and other institutional investors have recently modified their holdings of DBRG. Massachusetts Financial Services Co. MA purchased a new stake in DigitalBridge Group during the second quarter valued at $39,033,000. Potrero Capital Research LLC bought a new position in shares of DigitalBridge Group in the 3rd quarter worth approximately $20,201,000. New South Capital Management Inc. lifted its stake in shares of DigitalBridge Group by 40.1% in the 2nd quarter. New South Capital Management Inc. now owns 3,929,762 shares of the company’s stock worth $53,838,000 after purchasing an additional 1,125,549 shares during the period. Wafra Inc. boosted its holdings in shares of DigitalBridge Group by 7.1% in the second quarter. Wafra Inc. now owns 15,455,808 shares of the company’s stock worth $211,745,000 after buying an additional 1,020,409 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in DigitalBridge Group by 54.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,686,145 shares of the company’s stock valued at $36,797,000 after buying an additional 952,408 shares during the period. 92.69% of the stock is owned by institutional investors.

DigitalBridge Group Price Performance

NYSE:DBRG opened at $12.38 on Tuesday. DigitalBridge Group has a one year low of $11.07 and a one year high of $20.99. The company’s 50-day simple moving average is $13.90 and its 200 day simple moving average is $13.47. The firm has a market capitalization of $2.16 billion, a P/E ratio of 16.95, a PEG ratio of 14.43 and a beta of 1.89.

DigitalBridge Group Dividend Announcement

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