Analysts Set DigitalBridge Group, Inc. (NYSE:DBRG) Target Price at $21.94

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) have received a consensus rating of “Buy” from the eight analysts that are covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $21.94.

DBRG has been the topic of a number of analyst reports. TheStreet upgraded shares of DigitalBridge Group from a “d” rating to a “c-” rating in a research note on Wednesday, November 1st. Royal Bank of Canada upped their target price on shares of DigitalBridge Group from $14.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday, August 14th. JPMorgan Chase & Co. upgraded shares of DigitalBridge Group from a “neutral” rating to an “overweight” rating and upped their target price for the company from $19.00 to $25.00 in a research note on Thursday, September 28th. Truist Financial lowered their target price on shares of DigitalBridge Group from $35.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, September 20th. Finally, Raymond James lowered their target price on shares of DigitalBridge Group from $25.00 to $24.00 and set a “strong-buy” rating on the stock in a research note on Thursday, November 2nd.

DigitalBridge Group Price Performance

Shares of DigitalBridge Group stock opened at $16.56 on Tuesday. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of -78.83 and a beta of 2.06. The firm’s 50-day moving average is $16.42 and its 200 day moving average is $15.28. DigitalBridge Group has a 1 year low of $9.99 and a 1 year high of $18.43.

DigitalBridge Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Sunday, December 31st will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend is Thursday, December 28th. DigitalBridge Group’s payout ratio is currently -19.05%.

Institutional Investors Weigh In On DigitalBridge Group

Several hedge funds and other institutional investors have recently made changes to their positions in DBRG. Nomura Asset Management Co. Ltd. increased its holdings in DigitalBridge Group by 76.9% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 2,300 shares of the company’s stock worth $28,000 after acquiring an additional 1,000 shares in the last quarter. Bessemer Group Inc. increased its holdings in DigitalBridge Group by 774.1% in the 1st quarter. Bessemer Group Inc. now owns 2,395 shares of the company’s stock worth $29,000 after acquiring an additional 2,121 shares in the last quarter. Quarry LP purchased a new stake in DigitalBridge Group in the 1st quarter worth approximately $32,000. Dark Forest Capital Management LP increased its holdings in DigitalBridge Group by 161.1% in the 1st quarter. Dark Forest Capital Management LP now owns 2,781 shares of the company’s stock worth $33,000 after acquiring an additional 1,716 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new stake in DigitalBridge Group in the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 90.43% of the company’s stock.

DigitalBridge Group Company Profile

DigitalBridge (NYSE: DBRG) is a leading global digital infrastructure firm. With a heritage of over 25 years investing in and operating businesses across the digital ecosystem including cell towers, data centers, fiber, small cells, and edge infrastructure, the DigitalBridge team manages a $69 billion portfolio of digital infrastructure assets on behalf of its limited partners and shareholders.