DigitalBridge Group, Inc. (NYSE:DBRG) Receives $16.00 Consensus PT from Analysts

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) have been assigned an average recommendation of “Hold” from the nine analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $16.00.

DBRG has been the subject of several research reports. Truist Financial initiated coverage on shares of DigitalBridge Group in a research report on Tuesday. They issued a “buy” rating and a $16.00 price objective for the company. B. Riley Financial cut shares of DigitalBridge Group from a “buy” rating to a “hold” rating and decreased their price target for the company from $20.00 to $16.00 in a research note on Tuesday, December 30th. Citizens Jmp lowered shares of DigitalBridge Group from a “market outperform” rating to a “hold” rating and set a $16.00 price target for the company. in a report on Monday, December 29th. Weiss Ratings upgraded shares of DigitalBridge Group from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, March 2nd. Finally, Royal Bank Of Canada downgraded DigitalBridge Group from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $23.00 to $16.00 in a report on Tuesday, December 30th.

Hedge Funds Weigh In On DigitalBridge Group

Several hedge funds have recently added to or reduced their stakes in the company. CWM LLC raised its holdings in DigitalBridge Group by 2.5% during the 3rd quarter. CWM LLC now owns 31,239 shares of the company’s stock worth $365,000 after purchasing an additional 755 shares during the last quarter. Stoneridge Investment Partners LLC boosted its stake in shares of DigitalBridge Group by 7.9% in the 3rd quarter. Stoneridge Investment Partners LLC now owns 14,153 shares of the company’s stock valued at $166,000 after purchasing an additional 1,037 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of DigitalBridge Group by 3.0% in the 4th quarter. Handelsbanken Fonder AB now owns 37,500 shares of the company’s stock valued at $575,000 after purchasing an additional 1,100 shares during the last quarter. Cetera Investment Advisers grew its position in shares of DigitalBridge Group by 4.4% during the 4th quarter. Cetera Investment Advisers now owns 28,921 shares of the company’s stock worth $444,000 after buying an additional 1,214 shares during the period. Finally, Arizona State Retirement System raised its stake in shares of DigitalBridge Group by 2.4% during the third quarter. Arizona State Retirement System now owns 52,115 shares of the company’s stock worth $610,000 after buying an additional 1,244 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Stock Up 0.2%

DigitalBridge Group stock opened at $15.45 on Monday. The stock has a 50-day simple moving average of $15.41 and a 200 day simple moving average of $13.54. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 34.32 and a beta of 1.61. DigitalBridge Group has a 12-month low of $6.41 and a 12-month high of $15.55.

DigitalBridge Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.01 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. DigitalBridge Group’s payout ratio is presently 8.89%.

About DigitalBridge Group

DigitalBridge Group, Inc (NYSE: DBRG) is a specialized global investment firm focused exclusively on digital infrastructure. The company originates, acquires, and manages a diversified portfolio of businesses that support the digital economy, including data centers, cell towers, small cells, fiber networks, edge infrastructure and related services. DigitalBridge seeks to generate sustainable, long-term returns for its investors by deploying capital into high-growth sectors driven by increasing data consumption, 5G deployment and cloud adoption.

Through its dedicated investment platforms, DigitalBridge provides equity and debt financing solutions to operators and owners of digital infrastructure assets.