DigitalBridge Group, Inc. (NYSE:DBRG) Receives $16.14 Average Target Price from Analysts

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) have been given an average rating of “Moderate Buy” by the nine brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, five have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $16.1429.

A number of research firms have recently weighed in on DBRG. Keefe, Bruyette & Woods increased their price target on DigitalBridge Group from $10.50 to $11.00 and gave the company a “market perform” rating in a research note on Tuesday, August 12th. Weiss Ratings reiterated a “sell (d+)” rating on shares of DigitalBridge Group in a report on Wednesday. Wall Street Zen upgraded shares of DigitalBridge Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Finally, Truist Financial boosted their price objective on DigitalBridge Group from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th.

DigitalBridge Group Stock Up 0.9%

DBRG stock opened at $11.86 on Monday. The business’s fifty day moving average is $11.42 and its 200-day moving average is $10.33. The company has a market cap of $2.16 billion, a P/E ratio of -296.50 and a beta of 1.66. DigitalBridge Group has a twelve month low of $6.41 and a twelve month high of $17.33.

DigitalBridge Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. DigitalBridge Group’s dividend payout ratio is currently -100.00%.

Institutional Investors Weigh In On DigitalBridge Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Frontier Capital Management Co. LLC lifted its stake in shares of DigitalBridge Group by 29.8% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 5,669,342 shares of the company’s stock valued at $58,678,000 after acquiring an additional 1,302,150 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in DigitalBridge Group by 16.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,029,913 shares of the company’s stock worth $35,544,000 after acquiring an additional 567,170 shares during the period. Geode Capital Management LLC grew its holdings in DigitalBridge Group by 5.5% during the 2nd quarter. Geode Capital Management LLC now owns 3,908,311 shares of the company’s stock worth $40,456,000 after acquiring an additional 204,770 shares during the period. Invesco Ltd. grew its holdings in DigitalBridge Group by 8.0% during the 2nd quarter. Invesco Ltd. now owns 3,836,949 shares of the company’s stock worth $39,712,000 after acquiring an additional 285,721 shares during the period. Finally, Brown Advisory Inc. grew its stake in shares of DigitalBridge Group by 0.9% in the 1st quarter. Brown Advisory Inc. now owns 3,692,895 shares of the company’s stock valued at $32,571,000 after buying an additional 33,960 shares during the period. 92.69% of the stock is currently owned by institutional investors.

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.