DigitalBridge Group (NYSE:DBRG) Trading Up 5.6% – Should You Buy?

DigitalBridge Group, Inc. (NYSE:DBRG) shares traded up 5.6% during trading on Thursday . The stock traded as high as $16.80 and last traded at $16.71. 1,026,220 shares traded hands during trading, a decline of 55% from the average session volume of 2,269,442 shares. The stock had previously closed at $15.82.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $19.00 price objective on shares of DigitalBridge Group in a report on Wednesday, July 3rd. Truist Financial dropped their price objective on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Wells Fargo & Company lowered their price target on shares of DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Raymond James reduced their price objective on shares of DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating on the stock in a research report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $19.22.

DigitalBridge Group Price Performance

The company has a market capitalization of $2.93 billion, a PE ratio of 10.87, a price-to-earnings-growth ratio of 2.84 and a beta of 1.95. The company’s fifty day moving average is $13.99 and its 200-day moving average is $14.10.

DigitalBridge Group (NYSE:DBRG) last issued its quarterly earnings data 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). The business had revenue of $390.34 million for 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 EPS for the current fiscal year.

DigitalBridge Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.24%. DigitalBridge Group’s dividend payout ratio (DPR) is 2.58%.

Institutional Investors Weigh In On DigitalBridge Group

Several institutional investors have recently bought and sold shares of DBRG. Kingswood Wealth Advisors LLC acquired a new stake in DigitalBridge Group in the first quarter valued at approximately $216,000. Allspring Global Investments Holdings LLC lifted its stake in shares of DigitalBridge Group by 8.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 180,038 shares of the company’s stock worth $3,469,000 after buying an additional 14,390 shares during the period. Nordea Investment Management AB acquired a new stake in shares of DigitalBridge Group during the first quarter worth $3,214,000. Jennison Associates LLC acquired a new stake in shares of DigitalBridge Group during the first quarter worth $650,000. Finally, Quantbot Technologies LP lifted its stake in shares of DigitalBridge Group by 78.4% during the first quarter. Quantbot Technologies LP now owns 139,398 shares of the company’s stock worth $2,686,000 after buying an additional 61,258 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

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.