Raymond James Cuts DigitalBridge Group (NYSE:DBRG) Price Target to $16.00

DigitalBridge Group (NYSE:DBRG) had its price target lowered by Raymond James from $19.00 to $16.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has a strong-buy rating on the stock.

A number of other brokerages have also recently weighed in on DBRG. Deutsche Bank Aktiengesellschaft reduced their price target on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. JPMorgan Chase & Co. boosted their target price on DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Wells Fargo & Company decreased their price objective on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. B. Riley reduced their target price on shares of DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Finally, Truist Financial cut their target price on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $18.13.

DigitalBridge Group Stock Down 1.6 %

Shares of DigitalBridge Group stock opened at $12.36 on Tuesday. DigitalBridge Group has a 12 month low of $11.07 and a 12 month high of $20.99. The business has a fifty day simple moving average of $14.33 and a 200 day simple moving average of $13.83. The stock has a market cap of $2.15 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 2.24 and a beta of 1.94.

DigitalBridge Group (NYSE:DBRG) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). DigitalBridge Group had a net margin of 21.42% and a return on equity of 3.58%. The company had revenue of $390.34 million during the quarter, compared to the consensus estimate of $97.05 million. Analysts expect that DigitalBridge Group will post 0.16 EPS for the current fiscal year.

DigitalBridge Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.32%. The ex-dividend date is Tuesday, December 31st. DigitalBridge Group’s dividend payout ratio (DPR) is currently 5.48%.

Hedge Funds Weigh In On DigitalBridge Group

Hedge funds have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA acquired a new stake in DigitalBridge Group in the second quarter valued at about $39,033,000. New South Capital Management Inc. lifted its holdings in shares of DigitalBridge Group by 40.1% in the second quarter. New South Capital Management Inc. now owns 3,929,762 shares of the company’s stock worth $53,838,000 after acquiring an additional 1,125,549 shares during the last quarter. Wafra Inc. boosted its stake in shares of DigitalBridge Group by 7.1% in the 2nd quarter. Wafra Inc. now owns 15,455,808 shares of the company’s stock valued at $211,745,000 after purchasing an additional 1,020,409 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of DigitalBridge Group by 54.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,686,145 shares of the company’s stock valued at $36,797,000 after purchasing an additional 952,408 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of DigitalBridge Group by 125.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,629,197 shares of the company’s stock valued at $22,320,000 after purchasing an additional 906,297 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

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.