DigitalBridge Group, Inc. (NYSE:DBRG) Receives Consensus Rating of “Buy” from Analysts

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) have been given a consensus recommendation of “Buy” by the eight research firms that are covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $19.22.

Several research firms recently issued reports on DBRG. Wells Fargo & Company reduced 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, August 6th. Royal Bank of Canada reissued an “outperform” rating and set a $19.00 price objective on shares of DigitalBridge Group in a report on Wednesday, July 3rd. Truist Financial dropped their target price on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft cut their target price on 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, JPMorgan Chase & Co. raised their price objective on DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st.

DigitalBridge Group Trading Up 1.4 %

Shares of DBRG stock opened at $16.85 on Monday. DigitalBridge Group has a 1-year low of $11.07 and a 1-year high of $20.99. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of 7.91, a PEG ratio of 2.84 and a beta of 1.95. The stock has a 50-day moving average of $13.99 and a 200-day moving average of $14.10.

DigitalBridge Group (NYSE:DBRG) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). DigitalBridge Group had a net margin of 35.10% and a return on equity of 4.49%. The company had revenue of $390.34 million for the quarter, compared to analyst estimates of $97.05 million. Sell-side analysts forecast that DigitalBridge Group will post 0.16 earnings per share for the current year.

DigitalBridge Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend was Monday, September 30th. DigitalBridge Group’s dividend payout ratio (DPR) is currently 1.88%.

Institutional Trading of DigitalBridge Group

A number of large investors have recently added to or reduced their stakes in the stock. Iridian Asset Management LLC CT grew its position in shares of DigitalBridge Group by 19.3% during the 3rd quarter. Iridian Asset Management LLC CT now owns 387,827 shares of the company’s stock valued at $5,480,000 after acquiring an additional 62,731 shares during the period. Ellis Investment Partners LLC raised its holdings in shares of DigitalBridge Group by 5.7% in the 3rd quarter. Ellis Investment Partners LLC now owns 46,426 shares of the company’s stock worth $656,000 after purchasing an additional 2,500 shares during the period. Spirit of America Management Corp NY lifted its stake in DigitalBridge Group by 11.4% in the third quarter. Spirit of America Management Corp NY now owns 39,000 shares of the company’s stock valued at $551,000 after purchasing an additional 4,000 shares during the last quarter. Cherry Creek Investment Advisors Inc. bought a new position in DigitalBridge Group during the third quarter valued at $252,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in DigitalBridge Group in the third quarter worth $159,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

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.