Brokerages Set DigitalBridge Group, Inc. (NYSE:DBRG) Price Target at $16.61

DigitalBridge Group, Inc. (NYSE:DBRG) has received an average rating of “Buy” from the ten brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $16.61.

Several analysts have recently issued reports on the stock. Truist Financial lowered their price objective on shares of DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. B. Riley lowered their price objective on shares of DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Wells Fargo & Company upped their price target on shares of DigitalBridge Group from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. JPMorgan Chase & Co. decreased their price target on shares of DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, January 21st. Finally, Citizens Jmp raised shares of DigitalBridge Group to a “strong-buy” rating in a research report on Monday, January 27th.

DigitalBridge Group Stock Down 2.6 %

Shares of NYSE DBRG opened at $9.23 on Thursday. DigitalBridge Group has a 52-week low of $8.95 and a 52-week high of $19.49. The firm has a fifty day moving average of $10.61 and a 200-day moving average of $12.31. The stock has a market capitalization of $1.61 billion, a PE ratio of 307.73, a P/E/G ratio of 3.46 and a beta of 1.91.

DigitalBridge Group (NYSE:DBRG) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.03. DigitalBridge Group had a net margin of 10.98% and a return on equity of 4.29%. The company had revenue of $101.55 million during the quarter, compared to analysts’ expectations of $93.01 million. Equities research analysts expect that DigitalBridge Group will post 0.17 EPS for the current fiscal year.

DigitalBridge Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.01 per share. The ex-dividend date is Monday, March 31st. This represents a $0.04 annualized dividend and a dividend yield of 0.43%. DigitalBridge Group’s dividend payout ratio is presently 133.33%.

Institutional Trading of DigitalBridge Group

Several large investors have recently modified their holdings of DBRG. Sunbelt Securities Inc. grew its stake in shares of DigitalBridge Group by 109.9% during the fourth quarter. Sunbelt Securities Inc. now owns 2,796 shares of the company’s stock valued at $31,000 after acquiring an additional 1,464 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of DigitalBridge Group during the third quarter valued at about $34,000. Spire Wealth Management acquired a new stake in shares of DigitalBridge Group during the fourth quarter valued at about $37,000. Point72 Hong Kong Ltd acquired a new stake in shares of DigitalBridge Group during the fourth quarter valued at about $39,000. Finally, Manchester Capital Management LLC grew its stake in shares of DigitalBridge Group by 172.1% during the fourth quarter. Manchester Capital Management LLC now owns 4,372 shares of the company’s stock valued at $49,000 after acquiring an additional 2,765 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

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.