Brokerages Set DigitalBridge Group, Inc. (NYSE:DBRG) Price Target at $16.06

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) have been given a consensus rating of “Buy” by the ten brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, seven have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $16.28.

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

DigitalBridge Group Price Performance

NYSE DBRG opened at $10.90 on Tuesday. The stock has a market capitalization of $1.92 billion, a PE ratio of 363.17, a P/E/G ratio of 3.46 and a beta of 1.72. The business has a 50 day simple moving average of $9.22 and a two-hundred day simple moving average of $10.38. DigitalBridge Group has a 1-year low of $6.41 and a 1-year high of $17.33.

DigitalBridge Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.01 per share. 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 is currently 13.33%.

Hedge Funds Weigh In On DigitalBridge Group

A number of hedge funds have recently bought and sold shares of the business. Barclays PLC lifted its position in shares of DigitalBridge Group by 364.3% in the third quarter. Barclays PLC now owns 268,326 shares of the company’s stock valued at $3,792,000 after acquiring an additional 210,533 shares in the last quarter. Blue Trust Inc. lifted its position in shares of DigitalBridge Group by 164.0% in the fourth quarter. Blue Trust Inc. now owns 9,905 shares of the company’s stock valued at $112,000 after acquiring an additional 6,153 shares in the last quarter. KBC Group NV lifted its position in shares of DigitalBridge Group by 49.3% in the fourth quarter. KBC Group NV now owns 8,326 shares of the company’s stock valued at $94,000 after acquiring an additional 2,750 shares in the last quarter. Spire Wealth Management purchased a new position in shares of DigitalBridge Group in the fourth quarter valued at approximately $37,000. Finally, Jennison Associates LLC purchased a new position in shares of DigitalBridge Group in the fourth quarter valued at approximately $506,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Company Profile

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.