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

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) have been given a consensus recommendation of “Buy” by the seven brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $22.17.

A number of research firms have issued reports on DBRG. Royal Bank of Canada boosted their price objective on shares of DigitalBridge Group from $14.00 to $25.00 and gave the company an “outperform” rating in a report on Monday, August 14th. Raymond James upped their target price on DigitalBridge Group from $24.00 to $25.00 and gave the company a “strong-buy” rating in a research report on Monday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of DigitalBridge Group from $15.00 to $19.00 and gave the company a “neutral” rating in a research report on Monday, August 7th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of DigitalBridge Group from $18.00 to $19.00 in a research note on Friday, July 14th. Finally, Keefe, Bruyette & Woods upgraded DigitalBridge Group from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $12.50 to $17.50 in a research note on Sunday, June 4th.

DigitalBridge Group Price Performance

DigitalBridge Group stock opened at $17.30 on Thursday. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of -8.69 and a beta of 2.05. The stock’s 50 day moving average is $15.74 and its 200-day moving average is $13.45. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.62. DigitalBridge Group has a 12 month low of $9.99 and a 12 month high of $19.29.

DigitalBridge Group (NYSE:DBRG) last posted its quarterly earnings data on Friday, August 4th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The firm had revenue of $424.93 million for the quarter, compared to the consensus estimate of $315.48 million. DigitalBridge Group had a positive return on equity of 1.28% and a negative net margin of 20.44%. Equities research analysts expect that DigitalBridge Group will post -0.2 EPS for the current year.

DigitalBridge Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Saturday, September 30th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date is Thursday, September 28th. DigitalBridge Group’s payout ratio is -2.01%.

Hedge Funds Weigh In On DigitalBridge Group

Several large investors have recently modified their holdings of the business. New South Capital Management Inc. lifted its position in shares of DigitalBridge Group by 93.4% in the 2nd quarter. New South Capital Management Inc. now owns 2,063,104 shares of the company’s stock worth $30,348,000 after purchasing an additional 996,333 shares during the period. Comerica Bank purchased a new position in shares of DigitalBridge Group during the second quarter valued at approximately $2,990,000. Nuveen Asset Management LLC raised its position in DigitalBridge Group by 118.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 891,254 shares of the company’s stock valued at $13,110,000 after buying an additional 483,398 shares during the last quarter. Walleye Capital LLC boosted its holdings in DigitalBridge Group by 32.6% during the 2nd quarter. Walleye Capital LLC now owns 719,811 shares of the company’s stock worth $10,588,000 after acquiring an additional 177,134 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of DigitalBridge Group in the 2nd quarter worth $257,000. Institutional investors own 90.43% of the company’s stock.

About DigitalBridge Group

DigitalBridge (NYSE: DBRG) is a leading global digital infrastructure firm. With a heritage of over 25 years investing in and operating businesses across the digital ecosystem including cell towers, data centers, fiber, small cells, and edge infrastructure, the DigitalBridge team manages a $69 billion portfolio of digital infrastructure assets on behalf of its limited partners and shareholders.