DigitalBridge Group (NYSE:DBRG) Given “Outperform” Rating at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of DigitalBridge Group (NYSE:DBRG) in a report published on Wednesday morning, Benzinga reports. They currently have a $19.00 price objective on the stock.

Several other equities analysts have also recently issued reports on DBRG. JPMorgan Chase & Co. decreased their price objective on DigitalBridge Group from $25.00 to $23.00 and set an overweight rating for the company in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft reissued a buy rating and issued a $17.00 price objective (down previously from $21.00) on shares of DigitalBridge Group in a report on Tuesday, June 18th. Truist Financial decreased their price objective on DigitalBridge Group from $22.00 to $19.00 and set a buy rating for the company in a report on Wednesday, May 15th. Finally, Keefe, Bruyette & Woods decreased their price objective on DigitalBridge Group from $18.50 to $17.75 and set an outperform rating for the company in a report on Tuesday, June 18th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus target price of $19.96.

DigitalBridge Group Stock Performance

DigitalBridge Group stock opened at $13.36 on Wednesday. The business’s 50-day simple moving average is $13.77 and its two-hundred day simple moving average is $16.84. The company has a market cap of $2.32 billion, a PE ratio of 8.62, a PEG ratio of 1.51 and a beta of 2.00. DigitalBridge Group has a fifty-two week low of $12.12 and a fifty-two week high of $20.99.

DigitalBridge Group (NYSE:DBRG) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.03). The firm had revenue of $74.39 million for the quarter, compared to analysts’ expectations of $100.76 million. DigitalBridge Group had a net margin of 26.64% and a return on equity of 3.14%. As a group, analysts predict that DigitalBridge Group will post 0.25 EPS for the current fiscal year.

DigitalBridge Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors 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 yield of 0.30%. DigitalBridge Group’s payout ratio is 2.58%.

Hedge Funds Weigh In On DigitalBridge Group

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of DigitalBridge Group by 0.4% during the third quarter. Vanguard Group Inc. now owns 23,377,984 shares of the company’s stock valued at $410,985,000 after acquiring an additional 83,381 shares during the last quarter. Frontier Capital Management Co. LLC raised its holdings in shares of DigitalBridge Group by 10.4% during the fourth quarter. Frontier Capital Management Co. LLC now owns 3,550,341 shares of the company’s stock valued at $62,273,000 after acquiring an additional 334,381 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of DigitalBridge Group by 5.3% during the fourth quarter. Wellington Management Group LLP now owns 2,872,338 shares of the company’s stock valued at $50,381,000 after acquiring an additional 144,945 shares during the last quarter. Norges Bank acquired a new position in shares of DigitalBridge Group during the fourth quarter valued at approximately $31,651,000. Finally, Senator Investment Group LP raised its holdings in shares of DigitalBridge Group by 14.3% during the first quarter. Senator Investment Group LP now owns 1,752,003 shares of the company’s stock valued at $33,761,000 after acquiring an additional 218,941 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

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.