DigitalBridge Group (NYSE:DBRG) Trading Up 12% – Should You Buy?

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) rose 12% during trading on Friday . The stock traded as high as $9.77 and last traded at $10.8850. Approximately 88,926 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 2,769,104 shares. The stock had previously closed at $9.72.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Truist Financial upped their target price on shares of DigitalBridge Group from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. TD Cowen increased their price objective on shares of DigitalBridge Group from $19.00 to $20.00 and gave the company a “buy” rating in a report on Friday, October 31st. Wall Street Zen upgraded DigitalBridge Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. B. Riley raised DigitalBridge Group to a “strong-buy” rating in a report on Thursday, October 30th. Finally, Zacks Research raised DigitalBridge Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, five 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.93.

DigitalBridge Group Price Performance

The firm has a market capitalization of $2.32 billion, a PE ratio of 211.75 and a beta of 1.77. The business has a 50-day simple moving average of $11.17 and a 200-day simple moving average of $11.06.

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

DigitalBridge Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.01 per share. The ex-dividend date is Wednesday, December 31st. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. DigitalBridge Group’s payout ratio is 66.67%.

Institutional Investors Weigh In On DigitalBridge Group

Several institutional investors have recently made changes to their positions in DBRG. Vanguard Group Inc. grew its holdings in DigitalBridge Group by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 17,235,457 shares of the company’s stock valued at $201,655,000 after purchasing an additional 158,479 shares during the last quarter. Frontier Capital Management Co. LLC boosted its position in shares of DigitalBridge Group by 29.8% during the second quarter. Frontier Capital Management Co. LLC now owns 5,669,342 shares of the company’s stock valued at $58,678,000 after buying an additional 1,302,150 shares during the period. Portolan Capital Management LLC grew its stake in shares of DigitalBridge Group by 77.4% during the third quarter. Portolan Capital Management LLC now owns 5,468,226 shares of the company’s stock valued at $63,978,000 after buying an additional 2,386,066 shares during the last quarter. Invesco Ltd. raised its holdings in shares of DigitalBridge Group by 5.5% in the third quarter. Invesco Ltd. now owns 4,049,310 shares of the company’s stock worth $47,377,000 after buying an additional 212,361 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of DigitalBridge Group by 5.5% in the second quarter. Geode Capital Management LLC now owns 3,908,311 shares of the company’s stock worth $40,456,000 after buying an additional 204,770 shares during the period. Institutional investors 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.