B. Riley Cuts DigitalBridge Group (NYSE:DBRG) Price Target to $20.00

DigitalBridge Group (NYSE:DBRG) had its price target reduced by B. Riley from $24.00 to $20.00 in a report published on Tuesday,Benzinga reports. B. Riley currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the company. Truist Financial cut their price objective on 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. raised their price target on shares of DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Keefe, Bruyette & Woods cut shares of DigitalBridge Group from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $17.75 to $14.00 in a research report on Wednesday, November 6th. Wells Fargo & Company dropped their price objective on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Finally, Raymond James cut their target price on shares of DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, November 5th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, DigitalBridge Group has an average rating of “Buy” and an average price target of $17.38.

DigitalBridge Group Trading Down 0.8 %

Shares of DBRG opened at $10.88 on Tuesday. DigitalBridge Group has a twelve month low of $10.55 and a twelve month high of $20.99. The firm has a market capitalization of $1.90 billion, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 13.76 and a beta of 1.91. The stock’s fifty day simple moving average is $12.09 and its 200 day simple moving average is $13.22.

DigitalBridge Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.01 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.37%. DigitalBridge Group’s dividend payout ratio is currently 5.48%.

Hedge Funds Weigh In On DigitalBridge Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its position in shares of DigitalBridge Group by 4.1% during the second quarter. Victory Capital Management Inc. now owns 22,165 shares of the company’s stock worth $304,000 after acquiring an additional 870 shares during the last quarter. Arizona State Retirement System grew its stake in DigitalBridge Group by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 45,735 shares of the company’s stock valued at $627,000 after purchasing an additional 872 shares in the last quarter. Fulton Bank N.A. increased its holdings in DigitalBridge Group by 3.2% during the 3rd quarter. Fulton Bank N.A. now owns 28,372 shares of the company’s stock worth $401,000 after purchasing an additional 878 shares during the last quarter. King Luther Capital Management Corp raised its position in shares of DigitalBridge Group by 1.3% in the 2nd quarter. King Luther Capital Management Corp now owns 71,038 shares of the company’s stock valued at $973,000 after purchasing an additional 942 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of DigitalBridge Group during the 3rd quarter valued at approximately $34,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

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.