DigitalBridge Group (NYSE:DBRG) Stock Price Up 6.3% After Analyst Upgrade

DigitalBridge Group, Inc. (NYSE:DBRG)’s share price traded up 6.3% on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $22.00 to $23.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. DigitalBridge Group traded as high as $14.67 and last traded at $14.63. 749,452 shares changed hands during mid-day trading, a decline of 67% from the average session volume of 2,241,833 shares. The stock had previously closed at $13.76.

Several other analysts have also recently issued reports on the company. Keefe, Bruyette & Woods dropped their target price on DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating on the stock in a research report on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft cut their price objective on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $19.00 price target on shares of DigitalBridge Group in a research 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. Finally, Raymond James cut 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 research note on Thursday, August 8th. Seven 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 presently has a consensus rating of “Buy” and a consensus price target of $19.22.

Institutional Investors Weigh In On DigitalBridge Group

Several large investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB purchased a new stake in DigitalBridge Group during the 1st quarter worth about $3,214,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of DigitalBridge Group in the 1st quarter valued at about $1,247,000. GRS Advisors LLC increased its holdings in shares of DigitalBridge Group by 23.7% in the 4th quarter. GRS Advisors LLC now owns 1,534,820 shares of the company’s stock valued at $26,921,000 after acquiring an additional 293,987 shares during the period. Sei Investments Co. raised its stake in DigitalBridge Group by 77.9% during the 1st quarter. Sei Investments Co. now owns 302,856 shares of the company’s stock valued at $5,836,000 after acquiring an additional 132,638 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in shares of DigitalBridge Group in the 2nd quarter valued at approximately $3,234,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

DigitalBridge Group Price Performance

The firm has a market cap of $2.54 billion, a PE ratio of 9.43, a PEG ratio of 2.59 and a beta of 1.95. The company has a 50 day moving average price of $13.13 and a 200 day moving average price of $14.45.

DigitalBridge Group (NYSE:DBRG) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.01 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 analysts’ expectations of $97.05 million. DigitalBridge Group had a return on equity of 4.49% and a net margin of 35.10%. On average, equities analysts anticipate that DigitalBridge Group, Inc. will post 0.16 earnings per share for the current fiscal 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 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 payout ratio is currently 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.