DigitalBridge Group (NYSE:DBRG) Given New $16.00 Price Target at Wells Fargo & Company

DigitalBridge Group (NYSE:DBRG) had its price objective upped by Wells Fargo & Company from $15.00 to $16.00 in a research report report published on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages also recently commented on DBRG. Raymond James reduced their target price on shares of DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, November 5th. Citizens Jmp raised shares of DigitalBridge Group to a “strong-buy” rating in a research 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. B. Riley cut their target price on DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods lowered DigitalBridge Group from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $17.75 to $14.00 in a research note on Wednesday, November 6th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, DigitalBridge Group has a consensus rating of “Buy” and an average price target of $16.61.

DigitalBridge Group Price Performance

Shares of DigitalBridge Group stock opened at $11.23 on Monday. The stock’s 50 day simple moving average is $10.98 and its 200-day simple moving average is $12.60. The stock has a market cap of $1.96 billion, a P/E ratio of 374.47, a P/E/G ratio of 3.46 and a beta of 1.91. DigitalBridge Group has a 1-year low of $10.03 and a 1-year high of $19.49.

DigitalBridge Group (NYSE:DBRG) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.11 earnings per share for the quarter, topping 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 company had revenue of $101.55 million for the quarter, compared to analyst estimates of $93.01 million. As a group, research analysts expect that DigitalBridge Group will post 0.17 EPS for the current fiscal year.

DigitalBridge Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Monday, March 31st. DigitalBridge Group’s payout ratio is currently 133.33%.

Institutional Investors Weigh In On DigitalBridge Group

A number of hedge funds have recently bought and sold shares of DBRG. Frontier Capital Management Co. LLC increased its stake in shares of DigitalBridge Group by 28.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 5,575,225 shares of the company’s stock worth $62,889,000 after buying an additional 1,218,901 shares during the period. Horizon Kinetics Asset Management LLC grew its holdings in DigitalBridge Group by 868.9% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 4,483,340 shares of the company’s stock worth $50,572,000 after acquiring an additional 4,020,627 shares in the last quarter. State Street Corp increased its position in shares of DigitalBridge Group by 12.0% in the 3rd quarter. State Street Corp now owns 4,427,379 shares of the company’s stock valued at $62,603,000 after purchasing an additional 474,101 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of DigitalBridge Group by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,167,413 shares of the company’s stock valued at $58,895,000 after purchasing an additional 317,776 shares in the last quarter. Finally, New South Capital Management Inc. raised its holdings in shares of DigitalBridge Group by 2.9% in the 4th quarter. New South Capital Management Inc. now owns 4,055,232 shares of the company’s stock valued at $45,743,000 after purchasing an additional 115,029 shares in the last quarter. Institutional investors and hedge funds 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.