DigitalBridge Group (NYSE:DBRG) Shares Up 5.6% – What’s Next?

DigitalBridge Group, Inc. (NYSE:DBRG) shares traded up 5.6% during mid-day trading on Thursday . The company traded as high as $16.80 and last traded at $16.71. 1,026,220 shares were traded during trading, a decline of 55% from the average session volume of 2,269,442 shares. The stock had previously closed at $15.82.

Analyst Upgrades and Downgrades

Several brokerages have commented on DBRG. Truist Financial cut their target price on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. 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 research report on Tuesday, August 6th. B. Riley reduced their price objective on shares of DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $19.00 target price on shares of DigitalBridge Group in a research note on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $19.22.

DigitalBridge Group Stock Performance

The stock’s 50 day simple moving average is $13.81 and its 200 day simple moving average is $14.09. The firm has a market cap of $2.91 billion, a PE ratio of 10.79, a PEG ratio of 2.63 and a beta of 1.95.

DigitalBridge Group (NYSE:DBRG) last announced its earnings results on Wednesday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). The company had revenue of $390.34 million during the quarter, compared to analysts’ expectations of $97.05 million. DigitalBridge Group had a return on equity of 4.49% and a net margin of 35.10%. As a group, analysts anticipate that DigitalBridge Group, Inc. will post 0.16 earnings per share for the current year.

DigitalBridge Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.01 per share. The ex-dividend date was Monday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.24%. DigitalBridge Group’s dividend payout ratio (DPR) is presently 2.58%.

Institutional Trading of DigitalBridge Group

Hedge funds have recently bought and sold shares of the company. nVerses Capital LLC grew its position in DigitalBridge Group by 633.3% during the second quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock valued at $30,000 after acquiring an additional 1,900 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of DigitalBridge Group in the 3rd quarter valued at $35,000. Blue Trust Inc. grew its holdings in shares of DigitalBridge Group by 179.2% during the 3rd quarter. Blue Trust Inc. now owns 3,752 shares of the company’s stock valued at $51,000 after purchasing an additional 2,408 shares during the last quarter. Headlands Technologies LLC raised its position in DigitalBridge Group by 33,627.3% in the 2nd quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock worth $102,000 after purchasing an additional 7,398 shares during the period. Finally, Xponance Inc. bought a new stake in DigitalBridge Group in the second quarter worth $138,000. Institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Company Profile

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.