DigitalBridge Group (NYSE:DBRG) Price Target Raised to $23.00

DigitalBridge Group (NYSE:DBRG) had its price objective boosted by JPMorgan Chase & Co. from $22.00 to $23.00 in a report released on Tuesday, Benzinga reports. They currently have an overweight rating on the stock.

DBRG has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft lowered their price objective on DigitalBridge Group from $17.00 to $16.00 and set a buy rating on the stock in a research report on Thursday, August 15th. Royal Bank of Canada reaffirmed an outperform rating and set a $19.00 price objective on shares of DigitalBridge Group in a report on Wednesday, July 3rd. B. Riley lowered their target price 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. Wells Fargo & Company cut their price target on shares of DigitalBridge Group from $20.00 to $18.00 and set an overweight rating for the company in a research note on Tuesday, August 6th. Finally, Raymond James dropped their target price on DigitalBridge Group from $22.00 to $19.00 and set a strong-buy rating for the company in a report on Thursday, August 8th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Buy and an average target price of $19.22.

DigitalBridge Group Stock Up 0.3 %

Shares of NYSE DBRG opened at $14.62 on Tuesday. DigitalBridge Group has a 12 month low of $11.07 and a 12 month high of $20.99. The company has a market cap of $2.54 billion, a P/E ratio of 9.43, a P/E/G ratio of 2.59 and a beta of 1.95. The business’s 50 day moving average is $13.13 and its two-hundred day moving average is $14.45.

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

DigitalBridge Group Dividend Announcement

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

Institutional Trading of DigitalBridge Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nordea Investment Management AB acquired a new stake in DigitalBridge Group in the 1st quarter valued at about $3,214,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of DigitalBridge Group in the first quarter valued at approximately $1,247,000. GRS Advisors LLC raised its position in DigitalBridge Group by 23.7% in the 4th quarter. GRS Advisors LLC now owns 1,534,820 shares of the company’s stock worth $26,921,000 after purchasing an additional 293,987 shares during the last quarter. Sei Investments Co. lifted its holdings in DigitalBridge Group by 77.9% during the 1st quarter. Sei Investments Co. now owns 302,856 shares of the company’s stock worth $5,836,000 after buying an additional 132,638 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in DigitalBridge Group by 555.4% in the 4th quarter. Franklin Resources Inc. now owns 92,896 shares of the company’s stock valued at $1,629,000 after buying an additional 78,723 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

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.