DigitalBridge Group, Inc. (NYSE:DBRG) Given Average Rating of "Buy" by Brokerages

Key Points

• DigitalBridge Group, Inc. has received a consensus rating of "Buy" from analysts, with one hold, five buy, and two strong buy recommendations.
• The average target price for DBRG shares among analysts is $16.14, with recent adjustments from firms like Truist Financial increasing it from $15.00 to $16.00.
• The company's quarterly dividend of $0.01 per share will be paid on October 15th, resulting in an annualized yield of 0.4% and highlighting the current payout ratio of -100.00%.

DigitalBridge Group, Inc. (NYSE:DBRG - Get Free Report) has been assigned an average rating of "Buy" from the eight brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $16.1429.

DBRG has been the topic of several research analyst reports. Keefe, Bruyette & Woods upped their target price on shares of DigitalBridge Group from $10.50 to $11.00 and gave the company a "market perform" rating in a research note on Tuesday, August 12th. Wall Street Zen upgraded shares of DigitalBridge Group from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Truist Financial lifted their price objective on DigitalBridge Group from $15.00 to $16.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th.

DigitalBridge Group Stock Performance

Shares of DBRG stock traded down $0.21 during mid-day trading on Thursday, hitting $11.82. The company's stock had a trading volume of 1,288,977 shares, compared to its average volume of 1,905,661. DigitalBridge Group has a 52-week low of $6.41 and a 52-week high of $17.33. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of -295.50 and a beta of 1.63. The business has a 50-day moving average price of $11.08 and a 200 day moving average price of $10.09.

DigitalBridge Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. DigitalBridge Group's dividend payout ratio is -100.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DBRG. Northern Trust Corp increased its stake in DigitalBridge Group by 1.8% during the fourth quarter. Northern Trust Corp now owns 1,522,539 shares of the company's stock worth $17,174,000 after acquiring an additional 26,930 shares during the last quarter. Point72 Asset Management L.P. boosted its position in DigitalBridge Group by 788.8% in the 4th quarter. Point72 Asset Management L.P. now owns 1,167,459 shares of the company's stock valued at $13,169,000 after buying an additional 1,036,105 shares during the period. Palisade Capital Management LP grew its stake in DigitalBridge Group by 30.5% in the 1st quarter. Palisade Capital Management LP now owns 1,734,855 shares of the company's stock worth $15,301,000 after acquiring an additional 404,960 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of DigitalBridge Group by 17.7% during the fourth quarter. Ameriprise Financial Inc. now owns 662,109 shares of the company's stock worth $7,469,000 after acquiring an additional 99,520 shares during the period. Finally, Public Employees Retirement System of Ohio increased its position in shares of DigitalBridge Group by 26.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 581,594 shares of the company's stock worth $6,560,000 after acquiring an additional 122,047 shares during the period. 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.