DigitalBridge Group (NYSE:DBRG) Shares Gap Down After Analyst Downgrade

DigitalBridge Group, Inc. (NYSE:DBRG - Get Free Report)'s share price gapped down prior to trading on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $25.00 to $23.00. The stock had previously closed at $16.44, but opened at $15.20. JPMorgan Chase & Co. currently has an overweight rating on the stock. DigitalBridge Group shares last traded at $14.61, with a volume of 743,105 shares trading hands.

Separately, Truist Financial boosted their target price on DigitalBridge Group from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Tuesday, April 16th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $21.75.

Institutional Investors Weigh In On DigitalBridge Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in DigitalBridge Group by 0.4% in the third quarter. Vanguard Group Inc. now owns 23,377,984 shares of the company's stock valued at $410,985,000 after acquiring an additional 83,381 shares during the last quarter. Frontier Capital Management Co. LLC increased its stake in shares of DigitalBridge Group by 10.4% during the fourth quarter. Frontier Capital Management Co. LLC now owns 3,550,341 shares of the company's stock valued at $62,273,000 after purchasing an additional 334,381 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of DigitalBridge Group by 5.3% during the fourth quarter. Wellington Management Group LLP now owns 2,872,338 shares of the company's stock valued at $50,381,000 after purchasing an additional 144,945 shares in the last quarter. New South Capital Management Inc. increased its stake in shares of DigitalBridge Group by 35.3% during the third quarter. New South Capital Management Inc. now owns 2,790,968 shares of the company's stock valued at $49,065,000 after purchasing an additional 727,864 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of DigitalBridge Group by 12.6% during the third quarter. Invesco Ltd. now owns 2,066,017 shares of the company's stock valued at $36,321,000 after purchasing an additional 231,265 shares in the last quarter. Institutional investors own 92.69% of the company's stock.

DigitalBridge Group Price Performance

The company has a market cap of $2.31 billion, a P/E ratio of 28.80 and a beta of 1.91. The company's 50-day moving average is $18.25 and its two-hundred day moving average is $17.76.

DigitalBridge Group (NYSE:DBRG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 20th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.06. The business had revenue of $350.31 million for the quarter, compared to analysts' expectations of $287.41 million. DigitalBridge Group had a net margin of 12.33% and a return on equity of 2.39%. Equities research analysts anticipate that DigitalBridge Group, Inc. will post 0.25 EPS for the current year.

DigitalBridge Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Sunday, March 31st were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend was Wednesday, March 27th. DigitalBridge Group's dividend payout ratio is presently 8.16%.

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.