DigitalBridge Group (NYSE:DBRG) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of DigitalBridge Group (NYSE:DBRG) from a hold rating to a sell rating in a research report sent to investors on Sunday morning.

Several other analysts also recently issued reports on DBRG. JMP Securities reissued a “market outperform” rating and issued a $16.00 price target on shares of DigitalBridge Group in a report on Friday, May 16th. Keefe, Bruyette & Woods raised their price target on DigitalBridge Group from $10.50 to $11.00 and gave the stock a “market perform” rating in a report on Tuesday, August 12th. Finally, Truist Financial raised their price target on DigitalBridge Group from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, June 3rd. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, DigitalBridge Group has a consensus rating of “Buy” and a consensus price target of $16.00.

DigitalBridge Group Trading Down 0.2%

Shares of DBRG opened at $11.1050 on Friday. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of -277.63 and a beta of 1.77. The stock has a 50 day moving average of $10.64 and a 200-day moving average of $10.02. DigitalBridge Group has a 52 week low of $6.41 and a 52 week high of $17.33.

DigitalBridge Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.4%. DigitalBridge Group’s payout ratio is presently -100.00%.

Institutional Trading of DigitalBridge Group

Hedge funds have recently added to or reduced their stakes in the business. Lazard Asset Management LLC raised its stake in DigitalBridge Group by 384.5% during the 4th quarter. Lazard Asset Management LLC now owns 3,346,966 shares of the company’s stock valued at $37,753,000 after acquiring an additional 2,656,100 shares in the last quarter. Northern Trust Corp raised its stake in DigitalBridge Group by 1.8% during the 4th quarter. Northern Trust Corp now owns 1,522,539 shares of the company’s stock valued at $17,174,000 after acquiring an additional 26,930 shares in the last quarter. Point72 Asset Management L.P. raised its stake in DigitalBridge Group by 788.8% during the 4th quarter. Point72 Asset Management L.P. now owns 1,167,459 shares of the company’s stock valued at $13,169,000 after acquiring an additional 1,036,105 shares in the last quarter. Palisade Capital Management LP raised its stake in DigitalBridge Group by 30.5% during the 1st quarter. Palisade Capital Management LP now owns 1,734,855 shares of the company’s stock valued at $15,301,000 after acquiring an additional 404,960 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in DigitalBridge Group by 17.7% during the 4th quarter. Ameriprise Financial Inc. now owns 662,109 shares of the company’s stock valued at $7,469,000 after acquiring an additional 99,520 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Company Profile

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.