B. Riley Cuts DigitalBridge Group (NYSE:DBRG) Price Target to $20.00

DigitalBridge Group (NYSE:DBRG) had its price objective lowered by B. Riley from $24.00 to $20.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also recently issued reports about the stock. Truist Financial lowered their price target on shares of DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. JPMorgan Chase & Co. increased their target price on shares of DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Raymond James decreased their price target on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, November 5th. Wells Fargo & Company dropped their price objective on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, Keefe, Bruyette & Woods downgraded DigitalBridge Group from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $17.75 to $14.00 in a research report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $17.38.

DigitalBridge Group Price Performance

DigitalBridge Group stock opened at $10.88 on Tuesday. The stock’s 50 day moving average price is $12.09 and its 200 day moving average price is $13.22. The company has a market cap of $1.90 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 13.76 and a beta of 1.91. DigitalBridge Group has a 1-year low of $10.55 and a 1-year high of $20.99.

DigitalBridge Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.37%. The ex-dividend date is Tuesday, December 31st. DigitalBridge Group’s payout ratio is 5.48%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new position in shares of DigitalBridge Group during the 3rd quarter worth $34,000. Central Pacific Bank Trust Division acquired a new position in DigitalBridge Group in the third quarter valued at $35,000. Blue Trust Inc. lifted its position in DigitalBridge Group by 179.2% during the third quarter. Blue Trust Inc. now owns 3,752 shares of the company’s stock worth $51,000 after buying an additional 2,408 shares during the period. nVerses Capital LLC boosted its stake in DigitalBridge Group by 145.5% in the 3rd quarter. nVerses Capital LLC now owns 5,400 shares of the company’s stock worth $76,000 after buying an additional 3,200 shares during the last quarter. Finally, Headlands Technologies LLC grew its holdings in DigitalBridge Group by 33,627.3% in the 2nd quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock valued at $102,000 after buying an additional 7,398 shares during the period. 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.