DigitalBridge Group, Inc. (NYSE:DBRG) Given Consensus Rating of “Buy” by Brokerages

DigitalBridge Group, Inc. (NYSE:DBRG) has received an average rating of “Buy” from the eight brokerages that are presently covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $19.22.

Several research firms have issued reports on DBRG. Royal Bank of Canada reiterated an “outperform” rating and set a $19.00 target price on shares of DigitalBridge Group in a research report on Wednesday, July 3rd. Raymond James decreased their price target on DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating on the stock in a research note on Thursday, August 8th. B. Riley decreased their price target on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods decreased their price target on DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating on the stock in a research note on Tuesday, June 18th. Finally, Wells Fargo & Company decreased their price target on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th.

DigitalBridge Group Stock Up 0.2 %

NYSE DBRG opened at $12.49 on Friday. DigitalBridge Group has a 52-week low of $11.96 and a 52-week high of $20.99. The business’s 50-day moving average price is $13.19 and its 200 day moving average price is $15.28. The firm has a market cap of $2.17 billion, a P/E ratio of 8.06, a P/E/G ratio of 1.38 and a beta of 2.00.

DigitalBridge Group (NYSE:DBRG) last released 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). DigitalBridge Group had a return on equity of 3.14% and a net margin of 26.64%. The business had revenue of $390.34 million for the quarter, compared to analyst estimates of $97.05 million. As a group, analysts anticipate that DigitalBridge Group will post 0.28 earnings per share for the current year.

DigitalBridge Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date is Monday, September 30th. DigitalBridge Group’s dividend payout ratio is presently 2.58%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Nordea Investment Management AB acquired a new stake in shares of DigitalBridge Group during the 1st quarter worth $3,214,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of DigitalBridge Group during the 1st quarter worth $1,247,000. Thornburg Investment Management Inc. increased its holdings in shares of DigitalBridge Group by 61.8% during the 4th quarter. Thornburg Investment Management Inc. now owns 683,817 shares of the company’s stock worth $11,994,000 after buying an additional 261,080 shares during the last quarter. GRS Advisors LLC increased its holdings in shares of DigitalBridge Group by 23.7% during the 4th quarter. GRS Advisors LLC now owns 1,534,820 shares of the company’s stock worth $26,921,000 after buying an additional 293,987 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of DigitalBridge Group by 77.9% during the 1st quarter. Sei Investments Co. now owns 302,856 shares of the company’s stock worth $5,836,000 after buying an additional 132,638 shares during the last quarter. 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.