DigitalBridge Group’s (DBRG) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of DigitalBridge Group (NYSE:DBRG) in a research note released on Wednesday, Benzinga reports. The brokerage currently has a $19.00 target price on the stock.

Several other research firms have also weighed in on DBRG. Deutsche Bank Aktiengesellschaft reissued a buy rating and issued a $17.00 target price (down previously from $21.00) on shares of DigitalBridge Group in a report on Tuesday, June 18th. JPMorgan Chase & Co. dropped their target price on DigitalBridge Group from $25.00 to $23.00 and set an overweight rating on the stock in a report on Wednesday, May 1st. Truist Financial lowered their price objective on DigitalBridge Group from $22.00 to $19.00 and set a buy rating for the company in a research note on Wednesday, May 15th. Finally, Keefe, Bruyette & Woods decreased their target price on DigitalBridge Group from $18.50 to $17.75 and set an outperform rating for the company in a research report on Tuesday, June 18th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, DigitalBridge Group currently has an average rating of Buy and a consensus price target of $19.96.

DigitalBridge Group Trading Down 1.5 %

Shares of NYSE DBRG opened at $13.17 on Wednesday. DigitalBridge Group has a twelve month low of $12.12 and a twelve month high of $20.99. The stock has a 50 day moving average of $13.62 and a two-hundred day moving average of $16.79. The stock has a market cap of $2.29 billion, a P/E ratio of 8.50, a P/E/G ratio of 1.48 and a beta of 2.00.

DigitalBridge Group (NYSE:DBRG) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.03). The company had revenue of $74.39 million for the quarter, compared to analysts’ expectations of $100.76 million. DigitalBridge Group had a return on equity of 3.14% and a net margin of 26.64%. As a group, research analysts predict that DigitalBridge Group will post 0.25 earnings per share for the current year.

DigitalBridge Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Sunday, June 30th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend is Friday, June 28th. DigitalBridge Group’s payout ratio is currently 2.58%.

Institutional Trading of DigitalBridge Group

A number of hedge funds and other institutional investors have recently modified their holdings of DBRG. Pacer Advisors Inc. purchased a new position in shares of DigitalBridge Group during the fourth quarter valued at $19,351,000. Thornburg Investment Management Inc. grew its stake in shares of DigitalBridge Group by 61.8% in the 4th quarter. Thornburg Investment Management Inc. now owns 683,817 shares of the company’s stock valued at $11,994,000 after purchasing an additional 261,080 shares during the period. Vanguard Group Inc. grew its position in DigitalBridge Group by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 23,377,984 shares of the company’s stock worth $410,985,000 after acquiring an additional 83,381 shares during the last quarter. GRS Advisors LLC grew its position in DigitalBridge Group by 23.7% during the 4th quarter. GRS Advisors LLC now owns 1,534,820 shares of the company’s stock worth $26,921,000 after acquiring an additional 293,987 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in DigitalBridge Group by 311.5% during the 4th quarter. Raymond James & Associates now owns 469,647 shares of the company’s stock worth $8,238,000 after buying an additional 355,524 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

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.