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

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

DBRG has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DigitalBridge Group in a research report on Friday, May 29th. Truist Financial initiated coverage on DigitalBridge Group in a research report on Tuesday, March 31st. They issued a “buy” rating and a $16.00 price target for the company.

Hedge Funds Weigh In On DigitalBridge Group

Large investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC lifted its position in shares of DigitalBridge Group by 305.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,760 shares of the company’s stock worth $27,000 after purchasing an additional 1,326 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of DigitalBridge Group by 70.4% during the 1st 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. Atlantic Union Bankshares Corp acquired a new position in shares of DigitalBridge Group during the 4th quarter worth about $31,000. Beaird Harris Wealth Management LLC acquired a new position in shares of DigitalBridge Group during the 4th quarter worth about $31,000. Finally, Quarry LP lifted its position in shares of DigitalBridge Group by 1,467.2% during the 4th quarter. Quarry LP now owns 2,053 shares of the company’s stock worth $31,000 after purchasing an additional 1,922 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

DigitalBridge Group Price Performance

Shares of NYSE:DBRG opened at $15.76 on Friday. DigitalBridge Group has a fifty-two week low of $8.94 and a fifty-two week high of $15.77. The business has a 50-day moving average of $15.65 and a two-hundred day moving average of $15.16. The stock has a market capitalization of $2.87 billion, a P/E ratio of 32.15 and a beta of 1.48.

DigitalBridge Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, June 30th. DigitalBridge Group’s payout ratio is currently 8.16%.

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.