DigitalBridge Group (NYSE:DBRG) Lowered to “Market Perform” Rating by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods cut shares of DigitalBridge Group (NYSE:DBRG) from an outperform rating to a market perform rating in a report issued on Wednesday, MarketBeat Ratings reports. Keefe, Bruyette & Woods currently has $14.00 price objective on the stock, down from their previous price objective of $17.75.

Several other equities analysts have also recently commented on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. B. Riley cut their target price on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Truist Financial decreased their price target on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Raymond James dropped their price objective on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a research report on Tuesday. Finally, JPMorgan Chase & Co. lifted their target price on DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $18.13.

DigitalBridge Group Trading Down 0.5 %

Shares of NYSE:DBRG traded down $0.07 on Wednesday, hitting $12.69. The company had a trading volume of 395,176 shares, compared to its average volume of 2,329,281. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 17.47, a P/E/G ratio of 2.21 and a beta of 1.94. The stock has a 50 day moving average price of $14.33 and a 200 day moving average price of $13.88. DigitalBridge Group has a 1-year low of $11.07 and a 1-year high of $20.99.

DigitalBridge Group (NYSE:DBRG) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). DigitalBridge Group had a return on equity of 3.58% and a net margin of 21.42%. The firm had revenue of $390.34 million for the quarter, compared to the consensus estimate of $97.05 million. Sell-side analysts anticipate that DigitalBridge Group will post 0.16 earnings per share for the current fiscal year.

DigitalBridge Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.04 annualized dividend and a yield of 0.32%. DigitalBridge Group’s payout ratio is 5.48%.

Institutional Trading of DigitalBridge Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DBRG. Vanguard Group Inc. boosted its stake in shares of DigitalBridge Group by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 23,274,328 shares of the company’s stock worth $448,496,000 after buying an additional 256,016 shares during the last quarter. Wafra Inc. raised its position in shares of DigitalBridge Group by 7.1% in the second quarter. Wafra Inc. now owns 15,455,808 shares of the company’s stock valued at $211,745,000 after purchasing an additional 1,020,409 shares during the period. New South Capital Management Inc. lifted its position in shares of DigitalBridge Group by 0.3% during the third quarter. New South Capital Management Inc. now owns 3,940,203 shares of the company’s stock worth $55,675,000 after acquiring an additional 10,441 shares in the last quarter. Legion Partners Asset Management LLC lifted its holdings in DigitalBridge Group by 3.3% during the 2nd quarter. Legion Partners Asset Management LLC now owns 3,453,253 shares of the company’s stock worth $47,310,000 after purchasing an additional 111,243 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of DigitalBridge Group in the second quarter valued at approximately $39,033,000. 92.69% of the stock is owned by institutional investors.

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.