DigitalBridge Group, Inc. (NYSE:DBRG) Receives $16.00 Consensus Price Target from Analysts

Key Points

• DigitalBridge Group, Inc. has received a consensus recommendation of "Buy" from eight ratings firms, with an average twelve-month price target of $16.00.
• Lazard Asset Management significantly increased its stake in DigitalBridge by 384.5%, highlighting growing institutional interest in the company.
• The company announced a quarterly dividend of $0.01, reflecting a 0.4% annual yield, although its payout ratio stands at -100.00%.

DigitalBridge Group, Inc. (NYSE:DBRG - Get Free Report) has been given an average recommendation of "Buy" by the eight ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation, five have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $16.00.

Several brokerages recently issued reports on DBRG. Truist Financial upped their price target on shares of DigitalBridge Group from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Tuesday, June 3rd. Wall Street Zen downgraded shares of DigitalBridge Group from a "hold" rating to a "sell" rating in a research report on Sunday. JMP Securities reiterated a "market outperform" rating and set a $16.00 price target on shares of DigitalBridge Group in a research report on Friday, May 16th. Finally, Keefe, Bruyette & Woods upped their price target on shares of DigitalBridge Group from $10.50 to $11.00 and gave the stock a "market perform" rating in a research report on Tuesday, August 12th.

DigitalBridge Group Stock Performance

Shares of NYSE:DBRG traded down $0.0250 on Friday, hitting $11.1050. The stock had a trading volume of 1,543,767 shares, compared to its average volume of 2,646,837. DigitalBridge Group has a twelve month low of $6.41 and a twelve month high of $17.33. The firm's 50 day moving average price is $10.63 and its 200-day moving average price is $10.02. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of -277.63 and a beta of 1.77.

DigitalBridge Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.01 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.4%. DigitalBridge Group's payout ratio is presently -100.00%.

Institutional Trading of DigitalBridge Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. raised its holdings in DigitalBridge Group by 109.9% during the 4th quarter. Sunbelt Securities Inc. now owns 2,796 shares of the company's stock worth $31,000 after purchasing an additional 1,464 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of DigitalBridge Group in the 4th quarter valued at about $39,000. GAMMA Investing LLC increased its stake in shares of DigitalBridge Group by 978.9% in the 1st quarter. GAMMA Investing LLC now owns 4,445 shares of the company's stock valued at $39,000 after acquiring an additional 4,033 shares during the last quarter. Spire Wealth Management increased its stake in shares of DigitalBridge Group by 91.1% in the 1st quarter. Spire Wealth Management now owns 6,208 shares of the company's stock valued at $55,000 after acquiring an additional 2,960 shares during the last quarter. Finally, US Bancorp DE increased its stake in shares of DigitalBridge Group by 187.3% in the 1st quarter. US Bancorp DE now owns 6,265 shares of the company's stock valued at $55,000 after acquiring an additional 4,084 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

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.