DigitalBridge Group, Inc. (NYSE:DBRG) Receives $16.00 Average PT from Analysts

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) have received an average rating of “Hold” from the nine analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $16.00.

DBRG has been the topic of several analyst reports. Truist Financial initiated coverage on DigitalBridge Group in a research report on Tuesday, March 31st. They set a “buy” rating and a $16.00 target price on the stock. Weiss Ratings raised DigitalBridge Group from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, March 2nd. Finally, Raymond James Financial downgraded DigitalBridge Group from a “strong-buy” rating to an “underperform” rating in a research report on Tuesday, January 27th.

DigitalBridge Group Stock Performance

NYSE DBRG opened at $15.70 on Tuesday. The company has a market cap of $2.86 billion, a P/E ratio of 32.03 and a beta of 1.49. The business’s 50 day moving average price is $15.54 and its 200-day moving average price is $14.42. DigitalBridge Group has a fifty-two week low of $8.94 and a fifty-two week high of $15.72.

DigitalBridge Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. DigitalBridge Group’s payout ratio is currently 8.16%.

Hedge Funds Weigh In On DigitalBridge Group

Several large investors have recently modified their holdings of the stock. Bank of America Corp DE increased its position in shares of DigitalBridge Group by 29.4% during the 1st quarter. Bank of America Corp DE now owns 2,574,508 shares of the company’s stock valued at $39,699,000 after purchasing an additional 584,205 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of DigitalBridge Group by 992.3% during the 1st quarter. Janus Henderson Group PLC now owns 812,377 shares of the company’s stock valued at $12,539,000 after purchasing an additional 738,005 shares during the last quarter. Amundi bought a new position in DigitalBridge Group in the 1st quarter valued at $187,000. California State Teachers Retirement System grew its position in DigitalBridge Group by 24.0% in the 1st quarter. California State Teachers Retirement System now owns 213,006 shares of the company’s stock valued at $3,285,000 after acquiring an additional 41,171 shares during the last quarter. Finally, Quantinno Capital Management LP grew its position in DigitalBridge Group by 7.7% in the 1st quarter. Quantinno Capital Management LP now owns 81,634 shares of the company’s stock valued at $1,259,000 after acquiring an additional 5,836 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Company Profile

DigitalBridge Group, Inc (NYSE: DBRG) is a specialized global investment firm focused exclusively on digital infrastructure. The company originates, acquires, and manages a diversified portfolio of businesses that support the digital economy, including data centers, cell towers, small cells, fiber networks, edge infrastructure and related services. DigitalBridge seeks to generate sustainable, long-term returns for its investors by deploying capital into high-growth sectors driven by increasing data consumption, 5G deployment and cloud adoption.

Through its dedicated investment platforms, DigitalBridge provides equity and debt financing solutions to operators and owners of digital infrastructure assets.