DigitalBridge Group, Inc. (NYSE:DBRG) Given Average Recommendation of “Buy” by Brokerages

DigitalBridge Group, Inc. (NYSE:DBRG) has been assigned a consensus rating of “Buy” from the eight analysts that are presently covering the stock, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $19.59.

A number of equities analysts have recently issued reports on DBRG shares. JPMorgan Chase & Co. cut their price target on shares of DigitalBridge Group from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Truist Financial dropped their target price on shares of DigitalBridge Group from $22.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Raymond James dropped their target price on shares of DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada restated an “outperform” rating and set a $19.00 target price on shares of DigitalBridge Group in a report on Wednesday, July 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $17.00 target price (down from $21.00) on shares of DigitalBridge Group in a report on Tuesday, June 18th.

Institutional Investors Weigh In On DigitalBridge Group

Several hedge funds have recently modified their holdings of the stock. New York State Common Retirement Fund boosted its position in shares of DigitalBridge Group by 0.3% in the fourth quarter. New York State Common Retirement Fund now owns 151,149 shares of the company’s stock worth $2,651,000 after acquiring an additional 514 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of DigitalBridge Group by 4.1% in the second quarter. Victory Capital Management Inc. now owns 22,165 shares of the company’s stock worth $304,000 after acquiring an additional 870 shares during the last quarter. Arizona State Retirement System boosted its position in shares of DigitalBridge Group by 1.9% in the second quarter. Arizona State Retirement System now owns 45,735 shares of the company’s stock worth $627,000 after acquiring an additional 872 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of DigitalBridge Group by 7.2% in the fourth quarter. Teacher Retirement System of Texas now owns 13,399 shares of the company’s stock worth $235,000 after acquiring an additional 905 shares during the last quarter. Finally, King Luther Capital Management Corp boosted 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 worth $973,000 after acquiring an additional 942 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

DigitalBridge Group Stock Up 1.6 %

Shares of DBRG opened at $12.38 on Wednesday. The company has a 50-day simple moving average of $13.31 and a 200-day simple moving average of $15.93. The company has a market capitalization of $2.15 billion, a PE ratio of 7.99, a P/E/G ratio of 1.38 and a beta of 2.00. DigitalBridge Group has a 52-week low of $12.12 and a 52-week high of $20.99.

DigitalBridge Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.32%. DigitalBridge Group’s dividend payout ratio (DPR) is presently 2.58%.

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.