Keefe, Bruyette & Woods Cuts DigitalBridge Group (NYSE:DBRG) Price Target to $13.50

DigitalBridge Group (NYSE:DBRG) had its target price lowered by Keefe, Bruyette & Woods from $14.00 to $13.50 in a research note published on Wednesday morning,Benzinga reports. The brokerage currently has a market perform rating on the stock.

DBRG has been the topic of several other research reports. JPMorgan Chase & Co. reduced their target price on shares of DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. Truist Financial reduced their target price on shares of DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Raymond James reduced their target price on shares of DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, November 5th. B. Riley reduced their price objective on shares of DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company lifted their price objective on shares of DigitalBridge Group from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $16.61.

DigitalBridge Group Trading Up 1.9 %

Shares of NYSE DBRG opened at $11.38 on Wednesday. The firm has a market capitalization of $1.98 billion, a PE ratio of 379.17, a price-to-earnings-growth ratio of 3.46 and a beta of 1.91. DigitalBridge Group has a 1 year low of $10.03 and a 1 year high of $19.49. The firm’s 50-day moving average is $10.98 and its 200-day moving average is $12.58.

DigitalBridge Group (NYSE:DBRG) last issued its earnings results on Thursday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.03. The company had revenue of $101.55 million for the quarter, compared to analyst estimates of $93.01 million. DigitalBridge Group had a net margin of 10.98% and a return on equity of 4.29%. As a group, equities research analysts anticipate that DigitalBridge Group will post 0.17 earnings per share for the current fiscal year.

DigitalBridge Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.01 per share. The ex-dividend date is Monday, March 31st. This represents a $0.04 annualized dividend and a yield of 0.35%. DigitalBridge Group’s dividend payout ratio (DPR) is currently 133.33%.

Institutional Trading of DigitalBridge Group

Hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. acquired a new stake in DigitalBridge Group during the 3rd quarter worth approximately $34,000. Sunbelt Securities Inc. raised its holdings in DigitalBridge Group by 109.9% during the 4th quarter. Sunbelt Securities Inc. now owns 2,796 shares of the company’s stock worth $31,000 after buying an additional 1,464 shares during the period. Spire Wealth Management acquired a new stake in DigitalBridge Group during the 4th quarter worth approximately $37,000. Point72 Hong Kong Ltd acquired a new stake in DigitalBridge Group during the 4th quarter worth approximately $39,000. Finally, Blue Trust Inc. raised its holdings in DigitalBridge Group by 179.2% during the 3rd quarter. Blue Trust Inc. now owns 3,752 shares of the company’s stock worth $51,000 after buying an additional 2,408 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

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.