DigitalBridge Group (NYSE:DBRG) PT Lowered to $23.00

DigitalBridge Group (NYSE:DBRG - Free Report) had its target price trimmed by JPMorgan Chase & Co. from $25.00 to $23.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Separately, Truist Financial increased their price objective on shares of DigitalBridge Group from $20.00 to $22.00 and gave the company a buy rating in a research report 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. According to data from MarketBeat, the company has a consensus rating of Buy and an average price target of $21.75.

DigitalBridge Group Stock Down 14.2 %

DigitalBridge Group stock traded down $2.33 during mid-day trading on Wednesday, reaching $14.11. 11,481,207 shares of the company's stock were exchanged, compared to its average volume of 2,249,397. The company has a market cap of $2.31 billion, a P/E ratio of 28.80 and a beta of 1.91. DigitalBridge Group has a twelve month low of $10.20 and a twelve month high of $20.99. The company has a fifty day moving average of $18.25 and a 200-day moving average of $17.76.

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

DigitalBridge Group Dividend Announcement

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

Institutional Trading of DigitalBridge Group

Hedge funds have recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of DigitalBridge Group in the fourth quarter valued at about $41,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of DigitalBridge Group in the third quarter valued at about $71,000. CWM LLC lifted its stake in shares of DigitalBridge Group by 59.9% in the fourth quarter. CWM LLC now owns 8,371 shares of the company's stock valued at $147,000 after purchasing an additional 3,135 shares during the period. Bfsg LLC acquired a new stake in shares of DigitalBridge Group in the fourth quarter valued at about $171,000. Finally, New York State Teachers Retirement System acquired a new stake in shares of DigitalBridge Group in the fourth quarter valued at about $175,000. Institutional investors and hedge funds 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.