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

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

A number of research analysts recently commented on the company. Raymond James decreased their price objective on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a report on Tuesday, November 5th. B. Riley lowered their price target on DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday. Keefe, Bruyette & Woods lowered shares of DigitalBridge Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $17.75 to $14.00 in a report on Wednesday, November 6th. Wells Fargo & Company lowered their target price on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. boosted their price target on shares of DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st.

DigitalBridge Group Price Performance

NYSE:DBRG opened at $10.88 on Friday. The company’s 50-day moving average is $12.18 and its two-hundred day moving average is $13.24. DigitalBridge Group has a 1-year low of $10.55 and a 1-year high of $20.99. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 13.76 and a beta of 1.91.

DigitalBridge Group Dividend Announcement

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

Institutional Investors Weigh In On DigitalBridge Group

A number of hedge funds have recently added to or reduced their stakes in DBRG. Victory Capital Management Inc. grew its stake in shares of DigitalBridge Group by 4.1% in 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 in the last quarter. Arizona State Retirement System boosted 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 valued at $627,000 after purchasing an additional 872 shares during the period. Fulton Bank N.A. grew its stake 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 in the last quarter. King Luther Capital Management Corp increased its holdings in 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 purchasing an additional 942 shares during the period. Finally, nVerses Capital LLC raised its position in DigitalBridge Group by 633.3% in the 2nd quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock valued at $30,000 after purchasing an additional 1,900 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

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.