DigitalBridge Group, Inc. (NYSE:DBRG) Receives $22.08 Consensus PT from Brokerages

DigitalBridge Group, Inc. (NYSE:DBRG) has been given a consensus recommendation of “Buy” by the five research firms that are presently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $22.08.

Separately, Truist Financial boosted their target price on DigitalBridge Group from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday.

DigitalBridge Group Stock Performance

Shares of DigitalBridge Group stock opened at $17.29 on Tuesday. The firm has a 50-day moving average of $18.70 and a 200-day moving average of $17.71. The stock has a market cap of $2.83 billion, a PE ratio of 35.29 and a beta of 1.91. DigitalBridge Group has a 52-week low of $10.20 and a 52-week high of $20.99.

DigitalBridge Group (NYSE:DBRG) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.06. DigitalBridge Group had a net margin of 12.33% and a return on equity of 2.39%. The business had revenue of $350.31 million during the quarter, compared to analysts’ expectations of $287.41 million. Equities research analysts predict that DigitalBridge Group will post -0.14 earnings per share for the current fiscal year.

DigitalBridge Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Sunday, March 31st were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend was Wednesday, March 27th. DigitalBridge Group’s payout ratio is presently 8.16%.

Hedge Funds Weigh In On DigitalBridge Group

Institutional investors and hedge funds have recently modified their holdings of the business. Nomura Asset Management Co. Ltd. boosted its holdings in shares of DigitalBridge Group by 76.9% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 2,300 shares of the company’s stock worth $28,000 after buying an additional 1,000 shares in the last quarter. Quarry LP bought a new position in shares of DigitalBridge Group during the 4th quarter worth approximately $41,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of DigitalBridge Group during the 4th quarter worth approximately $45,000. Dark Forest Capital Management LP boosted its holdings in shares of DigitalBridge Group by 161.1% during the 1st quarter. Dark Forest Capital Management LP now owns 2,781 shares of the company’s stock worth $33,000 after buying an additional 1,716 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new position in shares of DigitalBridge Group during the 1st quarter worth approximately $34,000. 92.69% of the stock is currently owned by institutional investors.

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.