Brokerages Set DigitalBridge Group, Inc. (NYSE:DBRG) PT at $16.00

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) have received an average rating of “Hold” from the nine research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $16.00.

Separately, Weiss Ratings raised DigitalBridge Group from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th.

DigitalBridge Group Trading Down 0.1%

NYSE:DBRG opened at $15.92 on Thursday. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 10.34 and a beta of 1.47. The company’s 50-day moving average is $15.85 and its two-hundred day moving average is $15.65. DigitalBridge Group has a 12-month low of $8.94 and a 12-month high of $15.98.

DigitalBridge Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Wednesday, September 30th. DigitalBridge Group’s dividend payout ratio (DPR) is 2.60%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in DBRG. Corient Private Wealth LP grew its position in DigitalBridge Group by 98.3% during the second quarter. Corient Private Wealth LP now owns 19,985 shares of the company’s stock valued at $315,000 after acquiring an additional 9,909 shares during the period. California State Teachers Retirement System lifted its stake in shares of DigitalBridge Group by 1,434.0% in the 2nd quarter. California State Teachers Retirement System now owns 3,267,407 shares of the company’s stock valued at $51,560,000 after purchasing an additional 3,054,401 shares in the last quarter. OceanIQ Capital LLC acquired a new position in shares of DigitalBridge Group in the 2nd quarter valued at about $461,000. Nykredit A S purchased a new stake in shares of DigitalBridge Group during the 2nd quarter worth about $49,000. Finally, NINE MASTS CAPITAL Ltd grew its holdings in shares of DigitalBridge Group by 88.1% during the 2nd quarter. NINE MASTS CAPITAL Ltd now owns 147,100 shares of the company’s stock worth $2,321,000 after purchasing an additional 68,909 shares during the period. 92.69% of the stock is 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.