JPMorgan Chase & Co. Cuts DigitalBridge Group (NYSE:DBRG) Price Target to $23.00

DigitalBridge Group (NYSE:DBRG) had its price target reduced by JPMorgan Chase & Co. from $25.00 to $23.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Separately, Truist Financial upped their price objective on DigitalBridge Group from $20.00 to $22.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Buy and a consensus price target of $21.75.

DigitalBridge Group Trading Up 1.1 %

DBRG stock opened at $14.70 on Wednesday. The company has a market capitalization of $2.40 billion, a PE ratio of 9.48 and a beta of 1.95. DigitalBridge Group has a 12-month low of $10.31 and a 12-month high of $20.99. The business’s fifty day moving average price is $18.08 and its 200 day moving average price is $17.71.

DigitalBridge Group (NYSE:DBRG) 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. DigitalBridge Group had a return on equity of 2.91% and a net margin of 26.64%. The company had revenue of $350.31 million for the quarter, compared to the consensus estimate of $287.41 million. Research analysts predict that DigitalBridge Group will post 0.25 EPS for the current fiscal year.

DigitalBridge Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Sunday, June 30th will be given a dividend of $0.01 per share. The ex-dividend date is Friday, June 28th. This represents a $0.04 annualized dividend and a dividend yield of 0.27%. DigitalBridge Group’s dividend payout ratio is currently 2.58%.

Institutional Trading of DigitalBridge Group

A number of large investors have recently made changes to their positions in DBRG. Vanguard Group Inc. raised its stake in DigitalBridge Group by 0.4% during the 3rd 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 raised its stake in DigitalBridge Group by 10.4% during the 4th quarter. Frontier Capital Management Co. LLC now owns 3,550,341 shares of the company’s stock valued at $62,273,000 after acquiring an additional 334,381 shares during the last quarter. Wellington Management Group LLP raised its stake in DigitalBridge Group by 5.3% during the 4th quarter. Wellington Management Group LLP now owns 2,872,338 shares of the company’s stock valued at $50,381,000 after acquiring an additional 144,945 shares during the last quarter. Invesco Ltd. raised its stake in DigitalBridge Group by 12.6% during the 3rd quarter. Invesco Ltd. now owns 2,066,017 shares of the company’s stock valued at $36,321,000 after acquiring an additional 231,265 shares during the last quarter. Finally, Norges Bank purchased a new stake in DigitalBridge Group during the 4th quarter valued at approximately $31,651,000. 92.69% of the stock is owned by institutional investors and hedge funds.

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.