DigitalBridge Group, Inc. (NYSE:DBRG) Given Average Rating of “Hold” by Brokerages

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) have earned an average recommendation of “Hold” from the nine research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $16.00.

A number of equities analysts have issued reports on the stock. Raymond James Financial cut shares of DigitalBridge Group from a “strong-buy” rating to an “underperform” rating in a research report on Tuesday, January 27th. Truist Financial assumed coverage on shares of DigitalBridge Group in a research report on Tuesday, March 31st. They set a “buy” rating and a $16.00 target price for the company. Finally, Weiss Ratings upgraded shares of DigitalBridge Group from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, March 2nd.

DigitalBridge Group Trading Down 0.0%

Shares of DBRG opened at $15.70 on Tuesday. The stock has a market cap of $2.86 billion, a P/E ratio of 32.03 and a beta of 1.49. The company has a 50-day moving average of $15.53 and a two-hundred day moving average of $14.38. DigitalBridge Group has a 12-month low of $8.94 and a 12-month high of $15.72.

DigitalBridge Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued 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 dividend yield of 0.3%. DigitalBridge Group’s payout ratio is 8.16%.

Institutional Investors Weigh In On DigitalBridge Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of DigitalBridge Group by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 17,351,817 shares of the company’s stock worth $266,177,000 after buying an additional 116,360 shares in the last quarter. Pentwater Capital Management LP purchased a new stake in shares of DigitalBridge Group during the fourth quarter worth about $176,410,000. Kryger Capital LLC purchased a new stake in shares of DigitalBridge Group during the first quarter worth about $102,736,000. Portolan Capital Management LLC grew its holdings in shares of DigitalBridge Group by 77.4% during the third quarter. Portolan Capital Management LLC now owns 5,468,226 shares of the company’s stock worth $63,978,000 after buying an additional 2,386,066 shares in the last quarter. Finally, KRYGER CAPITAL Ltd purchased a new stake in shares of DigitalBridge Group during the fourth quarter worth about $75,234,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

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.