DigitalBridge Group (NYSE:DBRG) Downgraded by Raymond James Financial to Underperform

Raymond James Financial lowered shares of DigitalBridge Group (NYSE:DBRG) from a strong-buy rating to an underperform rating in a research note issued to investors on Tuesday, MarketBeat reports.

Other equities research analysts have also issued research reports about the stock. Keefe, Bruyette & Woods boosted their price objective on shares of DigitalBridge Group from $13.50 to $16.00 and gave the stock a “market perform” rating in a research note on Tuesday, December 30th. TD Cowen downgraded DigitalBridge Group from a “buy” rating to a “hold” rating and set a $16.00 price target on the stock. in a research note on Tuesday, December 30th. Royal Bank Of Canada lowered DigitalBridge Group from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $23.00 to $16.00 in a research report on Tuesday, December 30th. Weiss Ratings reissued a “sell (d+)” rating on shares of DigitalBridge Group in a report on Wednesday, January 21st. Finally, B. Riley cut DigitalBridge Group from a “buy” rating to a “hold” rating and cut their target price for the stock from $20.00 to $16.00 in a research note on Tuesday, December 30th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $16.00.

DigitalBridge Group Stock Down 0.2%

Shares of DBRG stock opened at $15.38 on Tuesday. The business’s fifty day moving average is $13.49 and its 200 day moving average is $12.15. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 256.29 and a beta of 1.69. DigitalBridge Group has a twelve month low of $6.41 and a twelve month high of $15.55.

DigitalBridge Group (NYSE:DBRG) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. The firm had revenue of $3.82 million for the quarter, compared to analysts’ expectations of $96.45 million. The business’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.01) EPS. Equities research analysts expect that DigitalBridge Group will post 0.17 earnings per share for the current fiscal year.

DigitalBridge Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.3%. The ex-dividend date was Wednesday, December 31st. DigitalBridge Group’s payout ratio is 66.67%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of DBRG. Thurston Springer Miller Herd & Titak Inc. bought a new position in DigitalBridge Group in the 4th quarter worth $43,000. Tema Etfs LLC purchased a new stake in DigitalBridge Group in the fourth quarter worth about $50,000. State of Alaska Department of Revenue bought a new position in shares of DigitalBridge Group in the third quarter worth about $84,000. NEOS Investment Management LLC purchased a new position in shares of DigitalBridge Group during the 3rd quarter valued at about $117,000. Finally, Captrust Financial Advisors bought a new position in shares of DigitalBridge Group during the 2nd quarter valued at approximately $109,000. Hedge funds and other 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.