DigitalBridge Group, Inc. (NYSE:DBRG) Given Average Rating of “Hold” by Brokerages

DigitalBridge Group, Inc. (NYSE:DBRG) has been assigned an average recommendation of “Hold” from the nine ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $16.00.

A number of brokerages recently weighed in on DBRG. Weiss Ratings reissued a “hold (c)” rating on shares of DigitalBridge Group in a research note on Friday, May 29th. Truist Financial started coverage on DigitalBridge Group in a research note on Tuesday, March 31st. They issued a “buy” rating and a $16.00 price objective on the stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DBRG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in DigitalBridge Group by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,556 shares of the company’s stock worth $834,000 after buying an additional 4,122 shares during the period. Goldman Sachs Group Inc. increased its position in DigitalBridge Group by 45.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,225,993 shares of the company’s stock worth $19,633,000 after buying an additional 693,613 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in DigitalBridge Group by 5.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 392,094 shares of the company’s stock worth $3,458,000 after buying an additional 21,930 shares during the period. Envestnet Asset Management Inc. increased its position in DigitalBridge Group by 12.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 11,746 shares of the company’s stock worth $122,000 after buying an additional 1,309 shares during the period. Finally, Cetera Investment Advisers increased its position in DigitalBridge Group by 39.1% in the 2nd quarter. Cetera Investment Advisers now owns 21,360 shares of the company’s stock worth $221,000 after buying an additional 6,000 shares during the period. 92.69% of the stock is owned by institutional investors.

DigitalBridge Group Stock Performance

Shares of DBRG stock opened at $15.72 on Friday. The stock’s 50 day simple moving average is $15.62 and its 200 day simple moving average is $14.94. DigitalBridge Group has a twelve month low of $8.94 and a twelve month high of $15.74. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 32.07 and a beta of 1.48.

DigitalBridge Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, June 30th. DigitalBridge Group’s payout ratio is currently 8.16%.

DigitalBridge Group Company Profile

DigitalBridge Group, Inc (NYSE: DBRG) is a specialized global investment firm focused exclusively on digital infrastructure. The company originates, acquires, and manages a diversified portfolio of businesses that support the digital economy, including data centers, cell towers, small cells, fiber networks, edge infrastructure and related services. DigitalBridge seeks to generate sustainable, long-term returns for its investors by deploying capital into high-growth sectors driven by increasing data consumption, 5G deployment and cloud adoption.

Through its dedicated investment platforms, DigitalBridge provides equity and debt financing solutions to operators and owners of digital infrastructure assets.