DigitalBridge Group (NYSE:DBRG) Sees Unusually-High Trading Volume on Analyst Upgrade

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) saw an uptick in trading volume on Monday after Royal Bank Of Canada raised their price target on the stock from $19.00 to $23.00. Royal Bank Of Canada currently has an outperform rating on the stock. 4,335,196 shares changed hands during mid-day trading, an increase of 44% from the previous session’s volume of 3,010,688 shares.The stock last traded at $14.6350 and had previously closed at $14.12.

Several other equities analysts have also recently weighed in on the stock. Truist Financial raised their price target on shares of DigitalBridge Group from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Weiss Ratings reissued a “sell (d+)” rating on shares of DigitalBridge Group in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their target price on DigitalBridge Group from $11.00 to $12.50 and gave the company a “market perform” rating in a research report on Monday, November 3rd. B. Riley upgraded DigitalBridge Group to a “strong-buy” rating in a report on Thursday, October 30th. Finally, TD Cowen raised their price objective on DigitalBridge Group from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, DigitalBridge Group currently has an average rating of “Moderate Buy” and a consensus price target of $17.69.

Institutional Investors Weigh In On DigitalBridge Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE boosted its position in DigitalBridge Group by 187.3% during the first quarter. US Bancorp DE now owns 6,265 shares of the company’s stock worth $55,000 after purchasing an additional 4,084 shares during the period. Headlands Technologies LLC lifted its stake in shares of DigitalBridge Group by 200.5% during the 1st quarter. Headlands Technologies LLC now owns 8,774 shares of the company’s stock valued at $77,000 after buying an additional 5,854 shares in the last quarter. Invesco Ltd. lifted its stake in shares of DigitalBridge Group by 7.2% during the 1st quarter. Invesco Ltd. now owns 3,551,228 shares of the company’s stock valued at $31,322,000 after buying an additional 237,503 shares in the last quarter. Aigen Investment Management LP bought a new position in DigitalBridge Group in the 1st quarter worth approximately $176,000. Finally, Nuveen LLC purchased a new position in DigitalBridge Group in the 1st quarter valued at approximately $6,590,000. 92.69% of the stock is currently owned by institutional investors.

DigitalBridge Group Stock Performance

The business’s 50 day moving average is $11.35 and its two-hundred day moving average is $11.13. The firm has a market capitalization of $2.76 billion, a PE ratio of 251.73 and a beta of 1.77.

DigitalBridge Group (NYSE:DBRG) last posted its quarterly earnings results on Thursday, March 21st. The company reported ($0.07) EPS for the quarter. The company had revenue of $232.83 million during the quarter. DigitalBridge Group had a return on equity of 4.78% and a net margin of 18.57%. As a group, equities research analysts predict that DigitalBridge Group, Inc. will post 0.17 EPS for the current year.

DigitalBridge Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be paid a $0.01 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $0.04 annualized dividend and a yield of 0.3%. DigitalBridge Group’s dividend payout ratio (DPR) is currently 66.67%.

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.