DigitalBridge Group (NYSE:DBRG) Price Target Lowered to $20.00 at B. Riley

DigitalBridge Group (NYSE:DBRG) had its price target trimmed by B. Riley from $24.00 to $20.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. raised their target price on DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Raymond James lowered their price objective on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, November 5th. Truist Financial reduced their target price on shares of DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Wells Fargo & Company dropped their price target on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, Keefe, Bruyette & Woods downgraded shares of DigitalBridge Group from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $17.75 to $14.00 in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, DigitalBridge Group currently has a consensus rating of “Buy” and an average price target of $17.38.

DigitalBridge Group Trading Down 3.4 %

DBRG stock opened at $10.96 on Tuesday. DigitalBridge Group has a 1-year low of $10.55 and a 1-year high of $20.99. The stock has a market cap of $1.91 billion, a P/E ratio of 15.01, a P/E/G ratio of 13.76 and a beta of 1.91. The stock’s fifty day simple moving average is $12.29 and its two-hundred day simple moving average is $13.26.

DigitalBridge Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend is Tuesday, December 31st. DigitalBridge Group’s dividend payout ratio (DPR) is presently 5.48%.

Hedge Funds Weigh In On DigitalBridge Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. bought a new stake in shares of DigitalBridge Group in the 3rd quarter worth $34,000. Central Pacific Bank Trust Division purchased a new position in DigitalBridge Group in the 3rd quarter worth about $35,000. Blue Trust Inc. lifted its stake in DigitalBridge Group by 179.2% during the 3rd quarter. Blue Trust Inc. now owns 3,752 shares of the company’s stock valued at $51,000 after acquiring an additional 2,408 shares during the period. nVerses Capital LLC boosted its holdings in shares of DigitalBridge Group by 145.5% during the 3rd quarter. nVerses Capital LLC now owns 5,400 shares of the company’s stock valued at $76,000 after acquiring an additional 3,200 shares during the last quarter. Finally, Headlands Technologies LLC grew its stake in shares of 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 acquiring an additional 7,398 shares during the period. 92.69% of the stock is currently owned by institutional investors.

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.