Analysts Set DigitalBridge Group, Inc. (NYSE:DBRG) Target Price at $19.22

DigitalBridge Group, Inc. (NYSE:DBRG) has been given a consensus rating of “Buy” by the eight research firms that are currently covering the stock, MarketBeat Ratings 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 brokerages that have issued a report on the stock in the last year is $19.22.

A number of equities analysts have commented on the stock. B. Riley decreased their price objective on shares of DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. JPMorgan Chase & Co. boosted their price objective on shares of DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Truist Financial cut their target price on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Raymond James lowered their target price on DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating for the company in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 15th.

Institutional Trading of DigitalBridge Group

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

DigitalBridge Group Stock Performance

Shares of DBRG stock opened at $16.86 on Monday. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 2.84 and a beta of 1.95. DigitalBridge Group has a one year low of $11.07 and a one year high of $20.99. The company’s 50-day simple moving average is $13.99 and its 200-day simple moving average is $14.04.

DigitalBridge Group (NYSE:DBRG) last released its 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 return on equity of 4.49% and a net margin of 35.10%. The firm had revenue of $390.34 million for the quarter, compared to the consensus estimate of $97.05 million. As a group, research analysts forecast that DigitalBridge Group will post 0.16 EPS for the current year.

DigitalBridge Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.01 per share. The ex-dividend date was Monday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.24%. DigitalBridge Group’s dividend payout ratio is presently 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.