Brokerages Set DigitalBridge Group, Inc. (NYSE:DBRG) Price Target at $16.06

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) have earned an average rating of “Buy” from the ten analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $16.06.

DBRG has been the topic of several analyst reports. Keefe, Bruyette & Woods decreased their price objective on DigitalBridge Group from $13.50 to $10.50 and set a “market perform” rating on the stock in a report on Tuesday, May 6th. Citizens Jmp upgraded DigitalBridge Group to a “strong-buy” rating in a report on Monday, January 27th. JPMorgan Chase & Co. decreased their price objective on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, January 21st. Truist Financial decreased their price objective on DigitalBridge Group from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. Finally, Wells Fargo & Company raised their price objective on DigitalBridge Group from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, February 24th.

DigitalBridge Group Stock Performance

Shares of NYSE:DBRG opened at $11.71 on Friday. The business’s fifty day moving average price is $8.62 and its two-hundred day moving average price is $10.62. The stock has a market cap of $2.04 billion, a PE ratio of 390.33, a price-to-earnings-growth ratio of 3.46 and a beta of 1.58. DigitalBridge Group has a one year low of $6.41 and a one year high of $17.33.

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

DigitalBridge Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date is Monday, June 30th. DigitalBridge Group’s payout ratio is currently 13.33%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. boosted its holdings in DigitalBridge Group by 109.9% in 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 during the last quarter. Spire Wealth Management acquired a new position in shares of DigitalBridge Group during the fourth quarter worth about $37,000. Point72 Hong Kong Ltd acquired a new position in shares of DigitalBridge Group during the fourth quarter worth about $39,000. Manchester Capital Management LLC lifted 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 worth $49,000 after purchasing an additional 2,765 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of DigitalBridge Group by 978.9% during the first quarter. GAMMA Investing LLC now owns 4,445 shares of the company’s stock worth $39,000 after purchasing an additional 4,033 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

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.