DigitalBridge Group, Inc. (NYSE:DBRG) Receives $16.06 Average Price Target from Analysts

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) have earned an average rating of “Buy” from the ten ratings firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $16.28.

A number of brokerages recently commented on DBRG. Wells Fargo & Company lifted their price objective on DigitalBridge Group from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. JMP Securities reissued a “market outperform” rating and set a $16.00 target price on shares of DigitalBridge Group in a research note on Friday, May 16th. Keefe, Bruyette & Woods cut their target price on DigitalBridge Group from $13.50 to $10.50 and set a “market perform” rating for the company in a research note on Tuesday, May 6th. Truist Financial raised their target price on DigitalBridge Group from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, June 3rd. Finally, Wall Street Zen cut DigitalBridge Group from a “hold” rating to a “sell” rating in a research note on Friday.

DigitalBridge Group Stock Performance

Shares of DigitalBridge Group stock opened at $10.90 on Tuesday. DigitalBridge Group has a one year low of $6.41 and a one year high of $17.33. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 363.17, a PEG ratio of 3.46 and a beta of 1.72. The business’s 50 day moving average price is $9.22 and its 200 day moving average price is $10.38.

DigitalBridge Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.37%. DigitalBridge Group’s dividend payout ratio (DPR) is presently 13.33%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Covestor Ltd boosted its holdings in DigitalBridge Group by 9.8% in the fourth quarter. Covestor Ltd now owns 11,752 shares of the company’s stock valued at $133,000 after purchasing an additional 1,049 shares during the period. Summit Investment Advisors Inc. increased its position in DigitalBridge Group by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 16,631 shares of the company’s stock valued at $188,000 after acquiring an additional 1,056 shares during the period. Xponance Inc. increased its position in DigitalBridge Group by 12.7% in the 4th quarter. Xponance Inc. now owns 11,725 shares of the company’s stock valued at $132,000 after acquiring an additional 1,321 shares during the period. Sunbelt Securities Inc. increased its position in DigitalBridge Group by 109.9% in the 4th quarter. Sunbelt Securities Inc. now owns 2,796 shares of the company’s stock valued at $31,000 after acquiring an additional 1,464 shares during the period. Finally, Fulton Bank N.A. increased its position in DigitalBridge Group by 5.2% in the 1st quarter. Fulton Bank N.A. now owns 35,194 shares of the company’s stock valued at $310,000 after acquiring an additional 1,752 shares during the period. 92.69% of the stock is currently owned by hedge funds and other 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.