DigitalBridge Group, Inc. (NYSE:DBRG) Receives Consensus Recommendation of “Buy” from Analysts

DigitalBridge Group, Inc. (NYSE:DBRG) has been given an average rating of “Buy” by the eight brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $17.38.

DBRG has been the topic of a number of recent analyst reports. B. Riley decreased their target price on DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday. Truist Financial lowered their price objective on shares of DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. 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 report on Tuesday, November 5th. 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. Finally, JPMorgan Chase & Co. increased their target price on DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st.

DigitalBridge Group Stock Performance

Shares of DBRG opened at $10.61 on Friday. DigitalBridge Group has a 52-week low of $10.50 and a 52-week high of $20.99. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 13.76 and a beta of 1.91. The business’s fifty day moving average is $12.03 and its 200-day moving average is $13.21.

DigitalBridge Group Dividend Announcement

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 $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Tuesday, December 31st. DigitalBridge Group’s dividend payout ratio is currently 5.48%.

Hedge Funds Weigh In On DigitalBridge Group

A number of hedge funds have recently bought and sold shares of DBRG. Victory Capital Management Inc. grew its holdings in DigitalBridge Group by 4.1% during the 2nd 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 period. Arizona State Retirement System increased its holdings in DigitalBridge Group by 1.9% in the second quarter. Arizona State Retirement System now owns 45,735 shares of the company’s stock worth $627,000 after purchasing an additional 872 shares in the last quarter. Fulton Bank N.A. lifted its stake in DigitalBridge Group by 3.2% in the third quarter. Fulton Bank N.A. now owns 28,372 shares of the company’s stock valued at $401,000 after buying an additional 878 shares during the period. King Luther Capital Management Corp boosted its holdings in shares of DigitalBridge Group by 1.3% during the 2nd quarter. King Luther Capital Management Corp now owns 71,038 shares of the company’s stock worth $973,000 after buying an additional 942 shares in the last quarter. Finally, nVerses Capital LLC grew 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 worth $30,000 after buying an additional 1,900 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.