Analysts Set DigitalBridge Group, Inc. (NYSE:DBRG) PT at $18.13

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) have received an average recommendation of “Buy” from the eight ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $18.13.

A number of brokerages recently commented on DBRG. Keefe, Bruyette & Woods downgraded shares of DigitalBridge Group from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $17.75 to $14.00 in a report on Wednesday, November 6th. Raymond James lowered their price target on shares of DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Truist Financial lowered their price target on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Finally, Wells Fargo & Company lowered their price target on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, November 4th.

DigitalBridge Group Stock Up 1.3 %

Shares of DigitalBridge Group stock opened at $12.70 on Friday. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 2.23 and a beta of 1.94. The business has a 50-day moving average price of $14.37 and a 200-day moving average price of $13.65. DigitalBridge Group has a twelve month low of $11.07 and a twelve month high of $20.99.

DigitalBridge Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend is Tuesday, December 31st. DigitalBridge Group’s payout ratio is currently 5.48%.

Institutional Trading of DigitalBridge Group

Several institutional investors have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA purchased a new position in shares of DigitalBridge Group during the second quarter worth approximately $39,033,000. Potrero Capital Research LLC purchased a new position in shares of DigitalBridge Group during the third quarter worth approximately $20,201,000. New South Capital Management Inc. increased its position in shares of DigitalBridge Group by 40.1% during 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 period. Wafra Inc. increased its position in shares of DigitalBridge Group by 7.1% during the second quarter. Wafra Inc. now owns 15,455,808 shares of the company’s stock worth $211,745,000 after acquiring an additional 1,020,409 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of DigitalBridge Group by 54.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,686,145 shares of the company’s stock worth $36,797,000 after acquiring an additional 952,408 shares during the period. 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.