Brokerages Set DigitalBridge Group, Inc. (NYSE:DBRG) Target Price at $16.67

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) have been given an average recommendation of “Buy” by the ten brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $16.67.

A number of research firms have issued reports on DBRG. Truist Financial reduced their price objective on DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Raymond James reduced their price objective on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, November 5th. Wells Fargo & Company boosted their target price on DigitalBridge Group from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Monday. JMP Securities started coverage on DigitalBridge Group in a research report on Monday, January 27th. They set an “outperform” rating and a $16.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their target price on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 21st.

Hedge Funds Weigh In On DigitalBridge Group

Several institutional investors have recently made changes to their positions in the company. Frontier Capital Management Co. LLC lifted its stake in DigitalBridge Group by 28.0% in the fourth quarter. Frontier Capital Management Co. LLC now owns 5,575,225 shares of the company’s stock worth $62,889,000 after acquiring an additional 1,218,901 shares during the period. Horizon Kinetics Asset Management LLC lifted its position in shares of DigitalBridge Group by 868.9% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 4,483,340 shares of the company’s stock worth $50,572,000 after purchasing an additional 4,020,627 shares during the period. State Street Corp lifted its position in shares of DigitalBridge Group by 12.0% in the 3rd quarter. State Street Corp now owns 4,427,379 shares of the company’s stock worth $62,603,000 after purchasing an additional 474,101 shares during the period. Geode Capital Management LLC lifted its position in shares of DigitalBridge Group by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,167,413 shares of the company’s stock worth $58,895,000 after purchasing an additional 317,776 shares during the period. Finally, New South Capital Management Inc. lifted its position in shares of DigitalBridge Group by 2.9% in the 4th quarter. New South Capital Management Inc. now owns 4,055,232 shares of the company’s stock worth $45,743,000 after purchasing an additional 115,029 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Price Performance

NYSE:DBRG opened at $11.44 on Friday. DigitalBridge Group has a 1 year low of $10.03 and a 1 year high of $19.49. The stock’s 50 day simple moving average is $10.98 and its two-hundred day simple moving average is $12.61. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 381.17, a PEG ratio of 3.46 and a beta of 1.91.

DigitalBridge Group (NYSE:DBRG) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. DigitalBridge Group had a return on equity of 4.29% and a net margin of 10.98%. The business had revenue of $101.55 million for the quarter, compared to the consensus estimate of $93.01 million. As a group, analysts anticipate that DigitalBridge Group will post 0.17 EPS for the current year.

DigitalBridge Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.35%. The ex-dividend date is Monday, March 31st. DigitalBridge Group’s dividend payout ratio is 133.33%.

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.