DigitalBridge Group (NYSE:DBRG) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of DigitalBridge Group (NYSE:DBRG) in a research note released on Wednesday, Benzinga reports. They currently have a $19.00 target price on the stock.

Other equities analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft restated a buy rating and issued a $17.00 price target (down previously from $21.00) on shares of DigitalBridge Group in a research report on Tuesday, June 18th. JPMorgan Chase & Co. dropped their target price on DigitalBridge Group from $25.00 to $23.00 and set an overweight rating on the stock in a research report on Wednesday, May 1st. Keefe, Bruyette & Woods dropped their target price on DigitalBridge Group from $18.50 to $17.75 and set an outperform rating on the stock in a research report on Tuesday, June 18th. Finally, Truist Financial dropped their target price on DigitalBridge Group from $22.00 to $19.00 and set a buy rating on the stock in a research report on Wednesday, May 15th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Buy and an average target price of $19.96.

DigitalBridge Group Stock Up 1.1 %

Shares of DBRG stock opened at $13.36 on Wednesday. The stock has a market capitalization of $2.32 billion, a PE ratio of 8.62, a price-to-earnings-growth ratio of 1.51 and a beta of 2.00. DigitalBridge Group has a 52-week low of $12.12 and a 52-week high of $20.99. The stock’s 50-day moving average price is $13.77 and its 200 day moving average price is $16.84.

DigitalBridge Group (NYSE:DBRG) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). The company had revenue of $74.39 million during the quarter, compared to analyst estimates of $100.76 million. DigitalBridge Group had a net margin of 26.64% and a return on equity of 3.14%. Analysts expect that DigitalBridge Group will post 0.25 earnings per share for the current fiscal year.

DigitalBridge Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Sunday, June 30th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.30%. The ex-dividend date is Friday, June 28th. DigitalBridge Group’s dividend payout ratio (DPR) is 2.58%.

Institutional Investors Weigh In On DigitalBridge Group

Several institutional investors have recently modified their holdings of DBRG. Northern Trust Corp boosted its stake in shares of DigitalBridge Group by 0.3% during the 3rd quarter. Northern Trust Corp now owns 1,472,816 shares of the company’s stock worth $25,892,000 after acquiring an additional 4,178 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of DigitalBridge Group during the 3rd quarter worth approximately $940,000. Public Employees Retirement System of Ohio boosted its stake in shares of DigitalBridge Group by 28.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 622,240 shares of the company’s stock worth $10,939,000 after acquiring an additional 139,240 shares in the last quarter. Graham Capital Management L.P. purchased a new stake in DigitalBridge Group in the 3rd quarter valued at approximately $1,061,000. Finally, Wellington Management Group LLP purchased a new stake in DigitalBridge Group in the 3rd quarter valued at approximately $47,948,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

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.