DigitalBridge Group, Inc. (NYSE:DBRG) Given Consensus Recommendation of “Buy” by Brokerages

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) have been assigned a consensus rating of “Buy” from the eight analysts that are currently covering the company, MarketBeat reports. Seven research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $19.22.

A number of brokerages have commented on DBRG. Deutsche Bank Aktiengesellschaft decreased 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. JPMorgan Chase & Co. raised their price target on DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Royal Bank of Canada reissued an “outperform” rating and set a $19.00 price objective on shares of DigitalBridge Group in a report on Wednesday, July 3rd. Wells Fargo & Company reduced their target price on shares of DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Finally, Truist Financial dropped their price target on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st.

Hedge Funds Weigh In On DigitalBridge Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Nordea Investment Management AB acquired a new stake in DigitalBridge Group during the 1st quarter worth $3,214,000. DekaBank Deutsche Girozentrale bought a new stake in shares of DigitalBridge Group in the first quarter worth about $1,247,000. Sei Investments Co. raised its position in shares of DigitalBridge Group by 77.9% during the first quarter. Sei Investments Co. now owns 302,856 shares of the company’s stock worth $5,836,000 after purchasing an additional 132,638 shares during the period. Manning & Napier Advisors LLC bought a new position in shares of DigitalBridge Group during the 2nd quarter valued at about $3,234,000. Finally, Comerica Bank grew its position in shares of DigitalBridge Group by 2,778.9% in the 1st quarter. Comerica Bank now owns 154,279 shares of the company’s stock valued at $2,973,000 after purchasing an additional 148,920 shares during the period. 92.69% of the stock is owned by institutional investors.

DigitalBridge Group Stock Up 1.4 %

Shares of NYSE DBRG opened at $16.12 on Monday. DigitalBridge Group has a 12-month low of $11.07 and a 12-month high of $20.99. The firm’s 50-day simple moving average is $13.58 and its 200 day simple moving average is $14.11. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 2.63 and a beta of 1.95.

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

DigitalBridge Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.25%. The ex-dividend date was Monday, September 30th. DigitalBridge Group’s payout ratio is 2.58%.

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.