DigitalBridge Group (NYSE:DBRG) Shares Up 6.3% Following Analyst Upgrade

DigitalBridge Group, Inc. (NYSE:DBRG) rose 6.3% during mid-day trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $22.00 to $23.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. DigitalBridge Group traded as high as $14.67 and last traded at $14.63. Approximately 749,452 shares traded hands during trading, a decline of 67% from the average daily volume of 2,241,833 shares. The stock had previously closed at $13.76.

Several other equities research analysts have also recently issued reports on DBRG. Truist Financial decreased their price objective on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $19.00 price objective on shares of DigitalBridge Group in a research note on Wednesday, July 3rd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Finally, Raymond James dropped their price objective on DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating for the company in a report on Thursday, August 8th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $19.22.

Hedge Funds Weigh In On DigitalBridge Group

Several institutional investors and hedge funds have recently made changes to their positions in DBRG. nVerses Capital LLC raised 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 purchasing an additional 1,900 shares during the period. Central Pacific Bank Trust Division bought a new stake in shares of DigitalBridge Group in the 3rd quarter worth approximately $35,000. Quarry LP acquired a new stake in shares of DigitalBridge Group during the 4th quarter valued at $41,000. Headlands Technologies LLC grew its holdings 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 acquiring an additional 7,398 shares during the last quarter. Finally, Xponance Inc. acquired a new stake in DigitalBridge Group during the 2nd quarter worth about $138,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

DigitalBridge Group Price Performance

The firm’s fifty day simple moving average is $13.13 and its 200 day simple moving average is $14.45. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 9.43, a PEG ratio of 2.59 and a beta of 1.95.

DigitalBridge Group (NYSE:DBRG) last issued its earnings results on Wednesday, August 7th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The firm had revenue of $390.34 million during the quarter, compared to analysts’ expectations of $97.05 million. DigitalBridge Group had a net margin of 35.10% and a return on equity of 4.49%. Equities research analysts forecast that DigitalBridge Group, Inc. will post 0.16 earnings per share for the current fiscal year.

DigitalBridge Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date is Monday, September 30th. DigitalBridge Group’s dividend payout ratio is 2.58%.

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.