DigitalBridge Group, Inc. (NYSE:DBRG – Get Free Report)’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.
Read Our Latest Stock Analysis on DBRG
Institutional Investors Weigh In On DigitalBridge Group
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 – Get Free Report) 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.
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