DigitalBridge Group (NYSE:DBRG) Shares Gap Down Following Analyst Downgrade

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) gapped down before the market opened on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $25.00 to $23.00. The stock had previously closed at $16.44, but opened at $15.20. JPMorgan Chase & Co. currently has an overweight rating on the stock. DigitalBridge Group shares last traded at $14.61, with a volume of 743,105 shares.

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

Hedge Funds Weigh In On DigitalBridge Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Carmel Capital Partners LLC acquired a new stake in DigitalBridge Group during the 1st quarter worth approximately $271,000. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of DigitalBridge Group by 7.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 108,841 shares of the company’s stock worth $2,097,000 after buying an additional 7,591 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of DigitalBridge Group by 40.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 164,804 shares of the company’s stock valued at $3,176,000 after acquiring an additional 47,221 shares during the period. Raymond James & Associates grew its stake in shares of DigitalBridge Group by 5.6% in the first quarter. Raymond James & Associates now owns 495,760 shares of the company’s stock valued at $9,553,000 after acquiring an additional 26,113 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of DigitalBridge Group by 8.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 180,038 shares of the company’s stock valued at $3,469,000 after acquiring an additional 14,390 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

DigitalBridge Group Price Performance

The business’s 50-day moving average is $18.25 and its 200 day moving average is $17.76. The firm has a market capitalization of $2.31 billion, a P/E ratio of 28.80 and a beta of 1.91.

DigitalBridge Group (NYSE:DBRG) last released its earnings results on Tuesday, February 20th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.06. DigitalBridge Group had a return on equity of 2.39% and a net margin of 12.33%. The company had revenue of $350.31 million for the quarter, compared to analyst estimates of $287.41 million. Analysts anticipate that DigitalBridge Group, Inc. will post 0.25 EPS for the current fiscal year.

DigitalBridge Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Sunday, March 31st were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend was Wednesday, March 27th. DigitalBridge Group’s dividend payout ratio (DPR) is presently 8.16%.

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.