JPMorgan Chase & Co. Boosts DigitalBridge Group (NYSE:DBRG) Price Target to $23.00

DigitalBridge Group (NYSE:DBRG) had its price target lifted by JPMorgan Chase & Co. from $22.00 to $23.00 in a research note released on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other equities analysts have also recently weighed in on the company. Wells Fargo & Company dropped their target price on DigitalBridge Group from $20.00 to $18.00 and set an overweight rating on the stock in a report on Tuesday, August 6th. B. Riley dropped their price objective on shares of DigitalBridge Group from $27.00 to $24.00 and set a buy rating on the stock in a research note on Tuesday, July 9th. Truist Financial decreased their target price on shares of DigitalBridge Group from $19.00 to $17.00 and set a buy rating for the company in a research note on Wednesday, August 21st. Raymond James lowered their price target on shares of DigitalBridge Group from $22.00 to $19.00 and set a strong-buy rating on the stock in a report on Thursday, August 8th. Finally, Royal Bank of Canada reiterated an outperform rating and set a $19.00 price objective on shares of DigitalBridge Group in a report on Wednesday, July 3rd. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Buy and an average price target of $19.22.

DigitalBridge Group Stock Up 0.3 %

NYSE:DBRG opened at $14.62 on Tuesday. The business’s 50-day moving average price is $13.13 and its 200 day moving average price is $14.45. DigitalBridge Group has a 52-week low of $11.07 and a 52-week high of $20.99. The firm has a market cap of $2.54 billion, a P/E ratio of 9.43, a PEG ratio of 2.59 and a beta of 1.95.

DigitalBridge Group (NYSE:DBRG) last announced its earnings results on Wednesday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The company had revenue of $390.34 million for the quarter, compared to analyst estimates of $97.05 million. DigitalBridge Group had a return on equity of 4.49% and a net margin of 35.10%. Sell-side analysts expect that DigitalBridge Group will post 0.16 EPS for the current year.

DigitalBridge Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend is Monday, September 30th. DigitalBridge Group’s payout ratio is 2.58%.

Institutional Trading of DigitalBridge Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. raised its stake in shares of DigitalBridge Group by 4.1% in the 2nd quarter. Victory Capital Management Inc. now owns 22,165 shares of the company’s stock valued at $304,000 after acquiring an additional 870 shares in the last quarter. Arizona State Retirement System grew its holdings in DigitalBridge Group by 1.9% during 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 last quarter. King Luther Capital Management Corp raised its position in shares of DigitalBridge Group by 1.3% in the second quarter. King Luther Capital Management Corp now owns 71,038 shares of the company’s stock valued at $973,000 after purchasing an additional 942 shares during the period. nVerses Capital LLC lifted its stake in shares of DigitalBridge Group by 633.3% in the second quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock worth $30,000 after buying an additional 1,900 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in shares of DigitalBridge Group by 0.7% during the 1st quarter. Swiss National Bank now owns 322,325 shares of the company’s stock worth $6,211,000 after buying an additional 2,100 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

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.