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

DigitalBridge Group, Inc. (NYSE:DBRG) has received a consensus recommendation of “Buy” from the eight research firms that are presently covering the stock, MarketBeat.com reports. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $19.22.

DBRG has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $19.00 price target on shares of DigitalBridge Group in a research report on Wednesday, July 3rd. Wells Fargo & Company lowered their target price on shares of DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. B. Riley lowered their price objective on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Finally, Truist Financial lowered their target price on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st.

DigitalBridge Group Stock Down 1.8 %

Shares of DigitalBridge Group stock opened at $15.83 on Monday. DigitalBridge Group has a 52 week low of $11.07 and a 52 week high of $20.99. The stock’s 50-day simple moving average is $13.73 and its 200-day simple moving average is $14.08. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 2.63 and a beta of 1.95.

DigitalBridge Group (NYSE:DBRG) last announced its earnings results on Wednesday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $390.34 million for the quarter, compared to analysts’ expectations of $97.05 million. DigitalBridge Group had a net margin of 35.10% and a return on equity of 4.49%. On average, equities analysts expect that DigitalBridge Group will post 0.16 earnings per share for the current year.

DigitalBridge Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.01 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.25%. DigitalBridge Group’s dividend payout ratio is presently 2.58%.

Hedge Funds Weigh In On DigitalBridge Group

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of DigitalBridge Group by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 23,274,328 shares of the company’s stock valued at $448,496,000 after acquiring an additional 256,016 shares during the period. Wafra Inc. boosted its stake in DigitalBridge Group by 7.1% during 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 during the period. New South Capital Management Inc. boosted its stake in DigitalBridge Group by 40.1% during the 2nd quarter. New South Capital Management Inc. now owns 3,929,762 shares of the company’s stock valued at $53,838,000 after purchasing an additional 1,125,549 shares during the period. Legion Partners Asset Management LLC boosted its stake in DigitalBridge Group by 3.3% during the 2nd quarter. Legion Partners Asset Management LLC now owns 3,453,253 shares of the company’s stock valued at $47,310,000 after purchasing an additional 111,243 shares during the period. Finally, Wellington Management Group LLP boosted its stake in DigitalBridge Group by 5.3% during the 4th quarter. Wellington Management Group LLP now owns 2,872,338 shares of the company’s stock valued at $50,381,000 after purchasing an additional 144,945 shares during the period. Hedge funds and other institutional investors 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.