DigitalBridge Group (NYSE:DBRG) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of DigitalBridge Group (NYSE:DBRG) from a hold rating to a strong sell rating in a research note published on Monday,Zacks.com reports.

A number of other equities research analysts have also issued reports on DBRG. Keefe, Bruyette & Woods upped their price objective on shares of DigitalBridge Group from $10.50 to $11.00 and gave the company a “market perform” rating in a report on Tuesday, August 12th. Wall Street Zen raised shares of DigitalBridge Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Truist Financial upped their target price on shares of DigitalBridge Group from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of DigitalBridge Group in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.14.

DigitalBridge Group Trading Up 2.6%

Shares of DBRG opened at $13.83 on Monday. DigitalBridge Group has a 12-month low of $6.41 and a 12-month high of $17.33. The firm has a 50-day moving average price of $11.61 and a 200 day moving average price of $10.44. The firm has a market capitalization of $2.52 billion, a P/E ratio of -345.78 and a beta of 1.66.

DigitalBridge Group (NYSE:DBRG) last announced its quarterly earnings data on Thursday, March 21st. The company reported ($0.07) earnings per share (EPS) for the quarter. DigitalBridge Group had a net margin of 18.57% and a return on equity of 4.14%. The firm had revenue of $232.83 million during the quarter. Equities research analysts predict that DigitalBridge Group will post 0.17 earnings per share for the current fiscal year.

DigitalBridge Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Tuesday, September 30th. DigitalBridge Group’s dividend payout ratio is currently -100.00%.

Institutional Trading of DigitalBridge Group

Several hedge funds have recently made changes to their positions in DBRG. Frontier Capital Management Co. LLC increased its stake in shares of DigitalBridge Group by 29.8% during the second quarter. Frontier Capital Management Co. LLC now owns 5,669,342 shares of the company’s stock worth $58,678,000 after buying an additional 1,302,150 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of DigitalBridge Group by 16.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 4,029,913 shares of the company’s stock worth $35,544,000 after buying an additional 567,170 shares during the period. Geode Capital Management LLC increased its stake in shares of DigitalBridge Group by 5.5% during the second quarter. Geode Capital Management LLC now owns 3,908,311 shares of the company’s stock worth $40,456,000 after buying an additional 204,770 shares during the period. Invesco Ltd. increased its stake in shares of DigitalBridge Group by 8.0% during the second quarter. Invesco Ltd. now owns 3,836,949 shares of the company’s stock worth $39,712,000 after buying an additional 285,721 shares during the period. Finally, Brown Advisory Inc. increased its stake in shares of DigitalBridge Group by 0.9% during the first quarter. Brown Advisory Inc. now owns 3,692,895 shares of the company’s stock worth $32,571,000 after buying an additional 33,960 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

DigitalBridge Group Company Profile

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.