DigitalBridge Group (NYSE:DBRG) Price Target Cut to $23.00 by Analysts at JPMorgan Chase & Co.

DigitalBridge Group (NYSE:DBRG) had its target price cut by JPMorgan Chase & Co. from $25.00 to $23.00 in a research report released on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

Separately, Truist Financial lifted their price objective on shares of DigitalBridge Group from $20.00 to $22.00 and gave the company a buy rating in a research report on Tuesday, April 16th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, DigitalBridge Group has a consensus rating of Buy and a consensus price target of $21.75.

DigitalBridge Group Stock Performance

NYSE:DBRG opened at $14.70 on Wednesday. The stock has a 50-day simple moving average of $17.99 and a 200 day simple moving average of $17.69. DigitalBridge Group has a one year low of $10.31 and a one year high of $20.99. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 9.48 and a beta of 1.95.

DigitalBridge Group (NYSE:DBRG) last released its quarterly earnings data on Tuesday, February 20th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.06. The firm had revenue of $350.31 million during the quarter, compared to the consensus estimate of $287.41 million. DigitalBridge Group had a net margin of 26.64% and a return on equity of 2.91%. On average, equities research analysts forecast that DigitalBridge Group will post 0.25 EPS for the current fiscal year.

DigitalBridge Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Sunday, June 30th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend is Friday, June 28th. DigitalBridge Group’s dividend payout ratio is 2.58%.

Institutional Investors Weigh In On DigitalBridge Group

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in DigitalBridge Group by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 23,377,984 shares of the company’s stock worth $410,985,000 after acquiring an additional 83,381 shares in the last quarter. Frontier Capital Management Co. LLC lifted its stake in DigitalBridge Group by 10.4% in the 4th quarter. Frontier Capital Management Co. LLC now owns 3,550,341 shares of the company’s stock worth $62,273,000 after acquiring an additional 334,381 shares in the last quarter. Wellington Management Group LLP lifted its stake in DigitalBridge Group by 5.3% in the 4th quarter. Wellington Management Group LLP now owns 2,872,338 shares of the company’s stock worth $50,381,000 after acquiring an additional 144,945 shares in the last quarter. Invesco Ltd. lifted its stake in DigitalBridge Group by 12.6% in the 3rd quarter. Invesco Ltd. now owns 2,066,017 shares of the company’s stock worth $36,321,000 after acquiring an additional 231,265 shares in the last quarter. Finally, Norges Bank purchased a new stake in DigitalBridge Group in the 4th quarter worth about $31,651,000. 92.69% of the stock is owned by hedge funds and other 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.