Brokerages Set DigitalBridge Group, Inc. (NYSE:DBRG) Target Price at $16.00

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) have been assigned a consensus recommendation of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokers that have covered 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 report on Thursday, August 6th.

Hedge Funds Weigh In On DigitalBridge Group

Several institutional investors and hedge funds have recently bought and sold shares of DBRG. Steward Partners Investment Advisory LLC lifted its position in DigitalBridge Group by 305.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,760 shares of the company’s stock valued at $27,000 after purchasing an additional 1,326 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of DigitalBridge Group by 70.4% in the first quarter. Parallel Advisors LLC now owns 1,891 shares of the company’s stock worth $29,000 after purchasing an additional 781 shares during the last quarter. Beaird Harris Wealth Management LLC purchased a new position in shares of DigitalBridge Group in the fourth quarter worth $31,000. Atlantic Union Bankshares Corp purchased a new stake in DigitalBridge Group during the 4th quarter valued at $31,000. Finally, Quarry LP boosted its position in DigitalBridge Group by 1,467.2% during the 4th quarter. Quarry LP now owns 2,053 shares of the company’s stock valued at $31,000 after buying an additional 1,922 shares during the period. 92.69% of the stock is currently owned by institutional investors.

DigitalBridge Group Stock Performance

Shares of DBRG opened at $15.93 on Thursday. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 10.34 and a beta of 1.47. DigitalBridge Group has a fifty-two week low of $8.94 and a fifty-two week high of $15.98. The firm has a 50 day moving average price of $15.84 and a 200-day moving average price of $15.64.

DigitalBridge Group Announces Dividend

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

DigitalBridge Group Company Profile

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.