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

DigitalBridge Group, Inc. (NYSE:DBRG)’s stock price rose 6.3% during mid-day trading 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. Approximately 749,452 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 2,241,833 shares. The stock had previously closed at $13.76.

Other equities analysts have also issued research reports about the company. Truist Financial lowered their target price on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Keefe, Bruyette & Woods lowered their target price on DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating on the stock in a research note on Tuesday, June 18th. Raymond James lowered their target price on DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating on the stock in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft lowered their target price on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Finally, B. Riley lowered their target price on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $19.22.

Institutional Investors Weigh In On DigitalBridge Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. nVerses Capital LLC grew its position in DigitalBridge Group by 633.3% during the 2nd quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock worth $30,000 after acquiring an additional 1,900 shares during the last quarter. Quarry LP bought a new stake in DigitalBridge Group during the 4th quarter worth $41,000. Headlands Technologies LLC grew its position in DigitalBridge Group by 33,627.3% during the 2nd quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock worth $102,000 after acquiring an additional 7,398 shares during the last quarter. Xponance Inc. bought a new stake in DigitalBridge Group during the 2nd quarter worth $138,000. Finally, Federated Hermes Inc. lifted its holdings in DigitalBridge Group by 944.8% during the 2nd quarter. Federated Hermes Inc. now owns 10,166 shares of the company’s stock worth $139,000 after buying an additional 9,193 shares during the period. Institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Stock Performance

The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of 9.44, a P/E/G ratio of 2.59 and a beta of 1.96. The company has a fifty day simple moving average of $13.11 and a 200 day simple moving average of $14.45.

DigitalBridge Group (NYSE:DBRG) last announced its earnings results on Wednesday, August 7th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). The company had revenue of $390.34 million for the quarter, compared to analyst estimates of $97.05 million. DigitalBridge Group had a return on equity of 4.49% and a net margin of 35.10%. As a group, equities analysts predict that DigitalBridge Group, Inc. will post 0.16 earnings per share for the current fiscal year.

DigitalBridge Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date is Monday, September 30th. DigitalBridge Group’s dividend payout ratio is 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.