DigitalBridge Group (NYSE:DBRG) Given New $23.00 Price Target at JPMorgan Chase & Co.

DigitalBridge Group (NYSE:DBRG) had its price target raised by JPMorgan Chase & Co. from $22.00 to $23.00 in a research note released on Tuesday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also recently issued reports on the stock. Royal Bank of Canada reissued an outperform rating and set a $19.00 price target on shares of DigitalBridge Group in a research report on Wednesday, July 3rd. Keefe, Bruyette & Woods cut their target price on DigitalBridge Group from $18.50 to $17.75 and set an outperform rating on the stock in a research note on Tuesday, June 18th. Wells Fargo & Company lowered their price target on DigitalBridge Group from $20.00 to $18.00 and set an overweight rating for the company in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lowered their price objective on DigitalBridge Group from $17.00 to $16.00 and set a buy rating on the stock in a research report on Thursday, August 15th. Finally, Raymond James reduced their target price on DigitalBridge Group from $22.00 to $19.00 and set a strong-buy rating for the company in a report on Thursday, August 8th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, DigitalBridge Group has a consensus rating of Buy and an average target price of $19.22.

DigitalBridge Group Stock Performance

Shares of DBRG stock opened at $13.77 on Tuesday. DigitalBridge Group has a fifty-two week low of $11.07 and a fifty-two week high of $20.99. The firm has a market cap of $2.39 billion, a P/E ratio of 8.88, a P/E/G ratio of 2.59 and a beta of 1.96. The business’s 50 day moving average price is $13.11 and its 200-day moving average price is $14.45.

DigitalBridge Group (NYSE:DBRG) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). DigitalBridge Group had a net margin of 35.10% and a return on equity of 4.49%. The company had revenue of $390.34 million for the quarter, compared to analysts’ expectations of $97.05 million. As a group, equities analysts predict that DigitalBridge Group will post 0.16 EPS for the current year.

DigitalBridge Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.01 per share. The ex-dividend date is Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.29%. DigitalBridge Group’s payout ratio is 2.58%.

Institutional Investors Weigh In On DigitalBridge Group

Large investors have recently made changes to their positions in the company. nVerses Capital LLC grew its holdings in DigitalBridge Group by 633.3% during the 2nd quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock valued at $30,000 after buying an additional 1,900 shares in the last quarter. Quarry LP purchased a new position in shares of DigitalBridge Group in the fourth quarter valued at $41,000. Headlands Technologies LLC increased its position in DigitalBridge Group by 33,627.3% in the second quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock worth $102,000 after purchasing an additional 7,398 shares during the last quarter. Xponance Inc. purchased a new stake in DigitalBridge Group during the second quarter valued at $138,000. Finally, Federated Hermes Inc. raised its stake in DigitalBridge Group by 944.8% during the second quarter. Federated Hermes Inc. now owns 10,166 shares of the company’s stock valued at $139,000 after purchasing an additional 9,193 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

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.