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

DigitalBridge Group, Inc. (NYSE:DBRG) has been given an average recommendation of “Buy” by the ten brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and two have 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 $16.06.

DBRG has been the topic of several recent research reports. Truist Financial dropped their price target on shares of DigitalBridge Group from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. Keefe, Bruyette & Woods cut their target price on DigitalBridge Group from $13.50 to $10.50 and set a “market perform” rating on the stock in a research report on Tuesday, May 6th. JMP Securities reiterated a “market outperform” rating and set a $16.00 price target on shares of DigitalBridge Group in a report on Friday, May 16th. Finally, Wells Fargo & Company raised their price objective on DigitalBridge Group from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday, February 24th.

Hedge Funds Weigh In On DigitalBridge Group

Institutional investors have recently added to or reduced their stakes in the stock. Frontier Capital Management Co. LLC grew its position in shares of DigitalBridge Group by 28.0% during the 4th quarter. Frontier Capital Management Co. LLC now owns 5,575,225 shares of the company’s stock valued at $62,889,000 after acquiring an additional 1,218,901 shares during the period. Horizon Kinetics Asset Management LLC grew its holdings in DigitalBridge Group by 868.9% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 4,483,340 shares of the company’s stock valued at $50,572,000 after purchasing an additional 4,020,627 shares during the period. New South Capital Management Inc. grew its holdings in DigitalBridge Group by 2.9% during the fourth quarter. New South Capital Management Inc. now owns 4,055,232 shares of the company’s stock valued at $45,743,000 after purchasing an additional 115,029 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of DigitalBridge Group by 16.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,029,913 shares of the company’s stock valued at $35,544,000 after buying an additional 567,170 shares during the period. Finally, Brown Advisory Inc. lifted its position in shares of DigitalBridge Group by 0.9% during the 1st quarter. Brown Advisory Inc. now owns 3,692,895 shares of the company’s stock valued at $32,571,000 after buying an additional 33,960 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Price Performance

Shares of NYSE DBRG opened at $11.14 on Tuesday. The company has a 50-day moving average price of $9.06 and a 200-day moving average price of $10.40. The stock has a market capitalization of $1.96 billion, a P/E ratio of 371.33, a P/E/G ratio of 3.46 and a beta of 1.58. DigitalBridge Group has a 1 year low of $6.41 and a 1 year high of $17.33.

DigitalBridge Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend is Monday, June 30th. DigitalBridge Group’s dividend payout ratio is presently 13.33%.

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.