Brokerages Set DigitalBridge Group, Inc. (NYSE:DBRG) Price Target at $17.88

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) have been given a consensus rating of “Buy” by the eight brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $17.88.

DBRG has been the topic of a number of analyst reports. Keefe, Bruyette & Woods cut DigitalBridge Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $17.75 to $14.00 in a research report on Wednesday, November 6th. Truist Financial lowered their price target on shares of DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. JPMorgan Chase & Co. increased their price objective on shares of DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Wells Fargo & Company lowered their target price on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, Raymond James cut their price target on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a research note on Tuesday, November 5th.

Hedge Funds Weigh In On DigitalBridge Group

Institutional investors have recently added to or reduced their stakes in the company. nVerses Capital LLC boosted its position in shares of DigitalBridge Group by 633.3% during the 2nd quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock valued at $30,000 after acquiring an additional 1,900 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in DigitalBridge Group in the third quarter worth $34,000. Central Pacific Bank Trust Division purchased a new stake in DigitalBridge Group during the third quarter valued at $35,000. Blue Trust Inc. lifted its position in DigitalBridge Group by 179.2% during the third quarter. Blue Trust Inc. now owns 3,752 shares of the company’s stock valued at $51,000 after purchasing an additional 2,408 shares during the last quarter. Finally, Headlands Technologies LLC grew its stake in shares of DigitalBridge Group by 33,627.3% in the 2nd quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock worth $102,000 after buying an additional 7,398 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Stock Performance

Shares of DigitalBridge Group stock opened at $11.37 on Friday. The stock’s fifty day moving average is $12.40 and its 200 day moving average is $13.27. DigitalBridge Group has a one year low of $10.55 and a one year high of $20.99. The stock has a market cap of $1.98 billion, a P/E ratio of 15.58, a P/E/G ratio of 13.76 and a beta of 1.91.

DigitalBridge Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.35%. The ex-dividend date is Tuesday, December 31st. DigitalBridge Group’s dividend payout ratio (DPR) is presently 5.48%.

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.