DigitalBridge Group (NYSE:DBRG) Downgraded by Keefe, Bruyette & Woods to Market Perform

Keefe, Bruyette & Woods lowered shares of DigitalBridge Group (NYSE:DBRG) from an outperform rating to a market perform rating in a research note released on Wednesday morning, MarketBeat reports. The brokerage currently has $14.00 price target on the stock, down from their previous price target of $17.75.

A number of other equities research analysts have also commented on DBRG. Wells Fargo & Company decreased their price objective on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Raymond James decreased their price objective on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a research report on Tuesday, November 5th. B. Riley decreased their price objective on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Truist Financial decreased their price objective on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $18.13.

DigitalBridge Group Stock Performance

NYSE:DBRG opened at $12.37 on Wednesday. The business has a fifty day moving average of $14.33 and a 200-day moving average of $13.81. DigitalBridge Group has a 1 year low of $11.07 and a 1 year high of $20.99. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 2.24 and a beta of 1.94.

DigitalBridge Group (NYSE:DBRG) last announced its earnings results on Wednesday, August 7th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). DigitalBridge Group had a net margin of 21.42% and a return on equity of 3.58%. The firm had revenue of $390.34 million for the quarter, compared to the consensus estimate of $97.05 million. On average, equities research analysts predict that DigitalBridge Group will post 0.16 EPS for the current year.

DigitalBridge Group Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Tuesday, December 31st. This represents a $0.04 annualized dividend and a dividend yield of 0.32%. DigitalBridge Group’s dividend payout ratio (DPR) is currently 5.48%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. grew its stake in DigitalBridge Group by 4.1% in the second quarter. Victory Capital Management Inc. now owns 22,165 shares of the company’s stock valued at $304,000 after purchasing an additional 870 shares in the last quarter. Arizona State Retirement System grew its stake in DigitalBridge Group by 1.9% in the second quarter. Arizona State Retirement System now owns 45,735 shares of the company’s stock valued at $627,000 after purchasing an additional 872 shares in the last quarter. Fulton Bank N.A. grew its stake in DigitalBridge Group by 3.2% in the third quarter. Fulton Bank N.A. now owns 28,372 shares of the company’s stock valued at $401,000 after purchasing an additional 878 shares in the last quarter. King Luther Capital Management Corp grew its stake in DigitalBridge Group by 1.3% in the second quarter. King Luther Capital Management Corp now owns 71,038 shares of the company’s stock valued at $973,000 after purchasing an additional 942 shares in the last quarter. Finally, nVerses Capital LLC grew its stake in DigitalBridge Group by 633.3% in the second quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock valued at $30,000 after purchasing an additional 1,900 shares in the last quarter. 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.