DigitalBridge Group (NYSE:DBRG) PT Lowered to $23.00 at JPMorgan Chase & Co.

DigitalBridge Group (NYSE:DBRG) had its price target reduced by JPMorgan Chase & Co. from $25.00 to $23.00 in a research note published on Wednesday, Benzinga reports. They currently have an overweight rating on the stock.

Separately, Truist Financial lifted their target price on shares of DigitalBridge Group from $20.00 to $22.00 and gave the stock a buy rating in a research report on Tuesday, April 16th. Four equities 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 data from MarketBeat, the stock presently has a consensus rating of Buy and an average target price of $21.75.

DigitalBridge Group Stock Down 14.2 %

Shares of NYSE:DBRG opened at $14.11 on Wednesday. The stock has a market cap of $2.31 billion, a PE ratio of 9.10 and a beta of 1.95. The company’s fifty day moving average is $18.25 and its 200 day moving average is $17.76. DigitalBridge Group has a 52 week low of $10.20 and a 52 week high of $20.99.

DigitalBridge Group (NYSE:DBRG) last issued its earnings results on Tuesday, February 20th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.06. The company had revenue of $350.31 million for the quarter, compared to analysts’ expectations of $287.41 million. DigitalBridge Group had a net margin of 26.64% and a return on equity of 2.91%. Sell-side analysts anticipate that DigitalBridge Group will post 0.25 EPS for the current year.

DigitalBridge Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Sunday, March 31st were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend was Wednesday, March 27th. DigitalBridge Group’s payout ratio is 2.58%.

Hedge Funds Weigh In On DigitalBridge Group

A number of hedge funds have recently modified their holdings of the company. New York State Common Retirement Fund increased its position in shares of DigitalBridge Group by 0.3% in the fourth quarter. New York State Common Retirement Fund now owns 151,149 shares of the company’s stock valued at $2,651,000 after acquiring an additional 514 shares during the period. Arizona State Retirement System raised its stake in DigitalBridge Group by 1.5% in the third quarter. Arizona State Retirement System now owns 46,093 shares of the company’s stock worth $810,000 after buying an additional 694 shares in the last quarter. Strs Ohio raised its stake in DigitalBridge Group by 2.1% in the third quarter. Strs Ohio now owns 34,200 shares of the company’s stock worth $601,000 after buying an additional 700 shares in the last quarter. Independent Advisor Alliance raised its stake in DigitalBridge Group by 4.5% in the third quarter. Independent Advisor Alliance now owns 17,076 shares of the company’s stock worth $300,000 after buying an additional 734 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in DigitalBridge Group by 7.2% in 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 in the last quarter. Hedge funds and other 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.