DigitalBridge Group (NYSE:DBRG) Shares Gap Up – Here’s Why

DigitalBridge Group, Inc. (NYSE:DBRG)’s share price gapped up before the market opened on Monday . The stock had previously closed at $13.92, but opened at $15.28. DigitalBridge Group shares last traded at $15.2650, with a volume of 31,979,518 shares.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DBRG. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of DigitalBridge Group in a research report on Wednesday, October 8th. TD Cowen upped their target price on shares of DigitalBridge Group from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Keefe, Bruyette & Woods raised their price target on shares of DigitalBridge Group from $11.00 to $12.50 and gave the company a “market perform” rating in a report on Monday, November 3rd. Wall Street Zen upgraded shares of DigitalBridge Group from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Finally, Zacks Research raised shares of DigitalBridge Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.69.

DigitalBridge Group Price Performance

The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 254.63 and a beta of 1.77. The firm’s fifty day moving average is $11.77 and its 200-day moving average is $11.38.

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

DigitalBridge Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be issued 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 Wednesday, December 31st. DigitalBridge Group’s payout ratio is currently 66.67%.

Institutional Trading of DigitalBridge Group

Several institutional investors and hedge funds have recently bought and sold shares of DBRG. State of Alaska Department of Revenue acquired a new position in shares of DigitalBridge Group in the 3rd quarter worth approximately $84,000. Captrust Financial Advisors acquired a new stake in shares of DigitalBridge Group during the 2nd quarter valued at approximately $109,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in DigitalBridge Group during the second quarter worth $113,000. NEOS Investment Management LLC bought a new position in DigitalBridge Group during the third quarter worth $117,000. Finally, Russell Investments Group Ltd. boosted its holdings in DigitalBridge Group by 239.4% in the second quarter. Russell Investments Group Ltd. now owns 11,373 shares of the company’s stock worth $118,000 after purchasing an additional 8,022 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

About DigitalBridge Group

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.