DigitalBridge Group, Inc. (NYSE:DBRG) Receives $21.29 Consensus PT from Brokerages

DigitalBridge Group, Inc. (NYSE:DBRG) has earned an average recommendation of “Buy” from the six brokerages that are covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $20.96.

DBRG has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $17.00 price objective (down from $21.00) on shares of DigitalBridge Group in a research note on Tuesday. Keefe, Bruyette & Woods dropped their price objective on shares of DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating on the stock in a research note on Tuesday. Truist Financial lowered their target price on shares of DigitalBridge Group from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Finally, JPMorgan Chase & Co. lowered their target price on shares of DigitalBridge Group from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Westwood Holdings Group Inc. raised its holdings in shares of DigitalBridge Group by 12.7% during the first quarter. Westwood Holdings Group Inc. now owns 1,059,783 shares of the company’s stock worth $20,422,000 after purchasing an additional 119,360 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of DigitalBridge Group during the first quarter worth $1,247,000. Boston Partners raised its holdings in shares of DigitalBridge Group by 169.7% during the first quarter. Boston Partners now owns 48,978 shares of the company’s stock worth $944,000 after purchasing an additional 30,816 shares during the last quarter. Comerica Bank raised its holdings in shares of DigitalBridge Group by 2,778.9% during the first quarter. Comerica Bank now owns 154,279 shares of the company’s stock worth $2,973,000 after purchasing an additional 148,920 shares during the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of DigitalBridge Group by 377.2% during the first quarter. Tidal Investments LLC now owns 58,692 shares of the company’s stock worth $1,131,000 after purchasing an additional 46,392 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Price Performance

Shares of DBRG stock opened at $12.32 on Tuesday. The company has a market capitalization of $2.14 billion, a P/E ratio of 7.94 and a beta of 1.96. The company’s 50-day simple moving average is $14.67 and its two-hundred day simple moving average is $17.10. DigitalBridge Group has a one year low of $12.12 and a one year high of $20.99.

DigitalBridge Group (NYSE:DBRG) last issued its earnings results on Tuesday, April 30th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). The company had revenue of $74.39 million during the quarter, compared to the consensus estimate of $100.76 million. DigitalBridge Group had a return on equity of 3.14% and a net margin of 26.64%. On average, research analysts expect that DigitalBridge Group will post 0.25 EPS for the current fiscal year.

DigitalBridge Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Sunday, June 30th will be issued a $0.01 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.32%. DigitalBridge Group’s dividend 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.