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

DigitalBridge Group, Inc. (NYSE:DBRG) has been assigned an average rating of “Hold” from the nine ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $16.00.

Separately, Weiss Ratings upgraded shares of DigitalBridge Group from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday.

DigitalBridge Group Stock Performance

Shares of NYSE DBRG opened at $15.95 on Friday. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 10.35 and a beta of 1.47. The business has a 50 day simple moving average of $15.77 and a 200 day simple moving average of $15.59. DigitalBridge Group has a 52 week low of $8.94 and a 52 week high of $15.95.

DigitalBridge Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.01 per share. The ex-dividend date is Wednesday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. DigitalBridge Group’s dividend payout ratio is 2.60%.

Institutional Investors Weigh In On DigitalBridge Group

Several institutional investors and hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in DigitalBridge Group by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,556 shares of the company’s stock worth $834,000 after purchasing an additional 4,122 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of DigitalBridge Group by 45.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,225,993 shares of the company’s stock worth $19,633,000 after buying an additional 693,613 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of DigitalBridge Group by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 392,094 shares of the company’s stock worth $3,458,000 after buying an additional 21,930 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of DigitalBridge Group by 12.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 11,746 shares of the company’s stock worth $122,000 after acquiring an additional 1,309 shares in the last quarter. Finally, Cetera Investment Advisers increased its holdings in shares of DigitalBridge Group by 39.1% during the 2nd quarter. Cetera Investment Advisers now owns 21,360 shares of the company’s stock valued at $221,000 after acquiring an additional 6,000 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

About DigitalBridge Group

DigitalBridge Group, Inc (NYSE: DBRG) is a specialized global investment firm focused exclusively on digital infrastructure. The company originates, acquires, and manages a diversified portfolio of businesses that support the digital economy, including data centers, cell towers, small cells, fiber networks, edge infrastructure and related services. DigitalBridge seeks to generate sustainable, long-term returns for its investors by deploying capital into high-growth sectors driven by increasing data consumption, 5G deployment and cloud adoption.

Through its dedicated investment platforms, DigitalBridge provides equity and debt financing solutions to operators and owners of digital infrastructure assets.