DigitalBridge Group, Inc. (NYSE:DBRG) Receives $19.22 Consensus Price Target from Brokerages

DigitalBridge Group, Inc. (NYSE:DBRG) has received a consensus rating of “Buy” from the eight brokerages that are currently covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $19.22.

DBRG has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft cut their price objective 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. Royal Bank of Canada restated an “outperform” rating and set a $19.00 price target on shares of DigitalBridge Group in a report on Wednesday, July 3rd. Raymond James decreased their price objective on shares of DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating for the company in a report on Thursday, August 8th. B. Riley lowered their target price on shares of DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Finally, Wells Fargo & Company reduced their price target on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in DBRG. nVerses Capital LLC boosted its holdings in shares of DigitalBridge Group by 633.3% in the 2nd quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock worth $30,000 after acquiring an additional 1,900 shares in the last quarter. Quarry LP acquired a new position in DigitalBridge Group in the fourth quarter worth $41,000. Headlands Technologies LLC grew its holdings in shares of DigitalBridge Group by 33,627.3% during the second quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock worth $102,000 after purchasing an additional 7,398 shares during the last quarter. Xponance Inc. acquired a new stake in shares of DigitalBridge Group in the second quarter valued at $138,000. Finally, Federated Hermes Inc. raised its holdings in shares of DigitalBridge Group by 944.8% in the second quarter. Federated Hermes Inc. now owns 10,166 shares of the company’s stock valued at $139,000 after buying an additional 9,193 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

DigitalBridge Group Trading Down 1.7 %

Shares of DBRG stock opened at $14.13 on Thursday. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 9.12, a P/E/G ratio of 2.59 and a beta of 1.96. DigitalBridge Group has a 1-year low of $11.07 and a 1-year high of $20.99. The stock’s fifty day simple moving average is $13.12 and its 200-day simple moving average is $14.48.

DigitalBridge Group (NYSE:DBRG) last announced its quarterly earnings data 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 35.10% and a return on equity of 4.49%. The company had revenue of $390.34 million for the quarter, compared to analysts’ expectations of $97.05 million. On average, sell-side analysts predict that DigitalBridge Group will post 0.16 EPS for the current year.

DigitalBridge Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.28%. DigitalBridge Group’s dividend payout ratio is currently 2.58%.

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.