DigitalBridge Group (NYSE:DBRG) Price Target Raised to $16.00

DigitalBridge Group (NYSE:DBRG) had its price objective lifted by Wells Fargo & Company from $15.00 to $16.00 in a research report sent to investors on Monday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other analysts have also weighed in on the company. JMP Securities assumed coverage on DigitalBridge Group in a report on Monday, January 27th. They set an “outperform” rating and a $16.00 target price for the company. 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 note on Tuesday, November 5th. Keefe, Bruyette & Woods downgraded DigitalBridge Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $17.75 to $14.00 in a research report on Wednesday, November 6th. B. Riley reduced their target price on shares of DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Finally, Truist Financial lowered their price target on shares of DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, DigitalBridge Group currently has a consensus rating of “Buy” and a consensus target price of $16.61.

DigitalBridge Group Stock Down 1.8 %

Shares of NYSE:DBRG opened at $11.23 on Monday. The business’s 50 day moving average is $10.98 and its 200 day moving average is $12.60. The stock has a market cap of $1.96 billion, a P/E ratio of 374.47, a price-to-earnings-growth ratio of 3.46 and a beta of 1.91. DigitalBridge Group has a 52-week low of $10.03 and a 52-week high of $19.49.

DigitalBridge Group (NYSE:DBRG) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. The company had revenue of $101.55 million during the quarter, compared to analyst estimates of $93.01 million. DigitalBridge Group had a net margin of 10.98% and a return on equity of 4.29%. On average, sell-side analysts anticipate that DigitalBridge Group will post 0.17 EPS for the current fiscal year.

DigitalBridge Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.36%. The ex-dividend date is Monday, March 31st. DigitalBridge Group’s payout ratio is 133.33%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Covestor Ltd raised its position in DigitalBridge Group by 9.8% during the fourth quarter. Covestor Ltd now owns 11,752 shares of the company’s stock valued at $133,000 after acquiring an additional 1,049 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in shares of DigitalBridge Group by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 16,631 shares of the company’s stock worth $188,000 after purchasing an additional 1,056 shares during the period. Xponance Inc. increased its holdings in shares of DigitalBridge Group by 12.7% during the 4th quarter. Xponance Inc. now owns 11,725 shares of the company’s stock valued at $132,000 after purchasing an additional 1,321 shares in the last quarter. Sunbelt Securities Inc. lifted its stake in shares of DigitalBridge Group by 109.9% in the 4th quarter. Sunbelt Securities Inc. now owns 2,796 shares of the company’s stock valued at $31,000 after purchasing an additional 1,464 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in DigitalBridge Group during the third quarter worth $34,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

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.