DigitalBridge Group (NYSE:DBRG) PT Lowered to $19.00 at Raymond James

DigitalBridge Group (NYSE:DBRG) had its price objective cut by Raymond James from $22.00 to $19.00 in a research report released on Thursday, Benzinga reports. They currently have a strong-buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. cut their price objective on DigitalBridge Group from $25.00 to $23.00 and set an overweight rating for the company in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft reaffirmed a buy rating and issued a $17.00 price objective (down from $21.00) on shares of DigitalBridge Group in a research report on Tuesday, June 18th. Royal Bank of Canada reaffirmed an outperform rating and set a $19.00 price objective on shares of DigitalBridge Group in a research report on Wednesday, July 3rd. Wells Fargo & Company cut their price objective on shares of DigitalBridge Group from $20.00 to $18.00 and set an overweight rating for the company in a report on Tuesday, August 6th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of DigitalBridge Group from $18.50 to $17.75 and set an outperform rating for the company in a research report on Tuesday, June 18th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Buy and an average price target of $19.59.

DigitalBridge Group Price Performance

Shares of DigitalBridge Group stock traded down $0.16 on Thursday, hitting $12.42. The company had a trading volume of 201,684 shares, compared to its average volume of 2,140,518. DigitalBridge Group has a twelve month low of $12.12 and a twelve month high of $20.99. The stock has a 50-day moving average of $13.35 and a 200-day moving average of $16.04. The firm has a market capitalization of $2.16 billion, a P/E ratio of 8.12, a P/E/G ratio of 1.38 and a beta of 2.00.

DigitalBridge Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend is Monday, September 30th. DigitalBridge Group’s payout ratio is currently 2.58%.

Institutional Trading of DigitalBridge Group

Institutional investors have recently modified their holdings of the business. New York State Common Retirement Fund raised its position in DigitalBridge Group by 0.3% during the 4th quarter. New York State Common Retirement Fund now owns 151,149 shares of the company’s stock worth $2,651,000 after purchasing an additional 514 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of DigitalBridge Group by 4.1% during the second quarter. Victory Capital Management Inc. now owns 22,165 shares of the company’s stock worth $304,000 after acquiring an additional 870 shares during the last quarter. Arizona State Retirement System boosted its holdings in DigitalBridge Group by 1.9% in the second quarter. Arizona State Retirement System now owns 45,735 shares of the company’s stock valued at $627,000 after acquiring an additional 872 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of DigitalBridge Group by 7.2% during the fourth quarter. Teacher Retirement System of Texas now owns 13,399 shares of the company’s stock worth $235,000 after buying an additional 905 shares during the period. Finally, nVerses Capital LLC lifted its stake in shares of DigitalBridge Group by 633.3% in the 2nd quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock valued at $30,000 after purchasing an additional 1,900 shares during the period. Institutional investors own 92.69% of the company’s stock.

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.