DigitalBridge Group (NYSE:DBRG) Shares Up 8.2% - Should You Buy?

Key Points

• DigitalBridge Group shares increased by 8.2% during mid-day trading, reaching a last traded price of $12.61, despite trading volume being significantly lower than average.
• Wall Street analysts show a mixed sentiment, with two analysts rating the stock as Strong Buy while Weiss Ratings reiterated a 'sell' with a target price consensus of $16.14.
• The firm recently declared a quarterly dividend of $0.01 per share, representing an annualized yield of 0.3%, although it has a negative dividend payout ratio of -100.00%.

DigitalBridge Group, Inc. (NYSE:DBRG - Get Free Report) was up 8.2% during mid-day trading on Tuesday . The stock traded as high as $12.14 and last traded at $12.61. Approximately 957,774 shares traded hands during trading, a decline of 63% from the average daily volume of 2,568,864 shares. The stock had previously closed at $11.65.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on DBRG shares. Wall Street Zen raised shares of DigitalBridge Group from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of DigitalBridge Group in a research report on Wednesday, October 8th. Truist Financial increased their price objective 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, Keefe, Bruyette & Woods increased their price objective on shares of DigitalBridge Group from $10.50 to $11.00 and gave the company a "market perform" rating in a research report on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $16.14.

DigitalBridge Group Price Performance

The firm has a market capitalization of $2.51 billion, a P/E ratio of -346.08 and a beta of 1.66. The business's 50-day moving average is $11.48 and its 200 day moving average is $10.40.

DigitalBridge Group (NYSE:DBRG - Get Free Report) last released its quarterly earnings results on Thursday, March 21st. The company reported ($0.07) EPS for the quarter. DigitalBridge Group had a return on equity of 4.14% and a net margin of 18.57%.The business had revenue of $232.83 million for the quarter. Analysts anticipate that DigitalBridge Group, Inc. will post 0.17 EPS for the current fiscal year.

DigitalBridge Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, September 30th. DigitalBridge Group's dividend payout ratio (DPR) is currently -100.00%.

Hedge Funds Weigh In On DigitalBridge Group

A number of hedge funds have recently bought and sold shares of DBRG. Teacher Retirement System of Texas grew its stake in DigitalBridge Group by 4.1% during the second quarter. Teacher Retirement System of Texas now owns 26,468 shares of the company's stock worth $274,000 after buying an additional 1,031 shares in the last quarter. Cetera Trust Company N.A grew its stake in DigitalBridge Group by 6.2% during the second quarter. Cetera Trust Company N.A now owns 21,075 shares of the company's stock worth $218,000 after buying an additional 1,225 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in DigitalBridge Group by 12.5% during the second quarter. Envestnet Asset Management Inc. now owns 11,746 shares of the company's stock worth $122,000 after buying an additional 1,309 shares in the last quarter. Tidal Investments LLC grew its stake in DigitalBridge Group by 1.8% during the second quarter. Tidal Investments LLC now owns 114,559 shares of the company's stock worth $1,186,000 after buying an additional 1,986 shares in the last quarter. Finally, Spirit of America Management Corp NY grew its stake in DigitalBridge Group by 4.5% during the second quarter. Spirit of America Management Corp NY now owns 46,000 shares of the company's stock worth $476,000 after buying an additional 2,000 shares in 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.

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