DigitalBridge Group (NYSE:DBRG) Price Target Raised to $23.00 at JPMorgan Chase & Co.

by · The Cerbat Gem

DigitalBridge Group (NYSE:DBRG – Free Report) had its price objective upped by JPMorgan Chase & Co. from $22.00 to $23.00 in a research report sent to investors on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other research analysts have also recently issued reports on DBRG. Royal Bank of Canada reaffirmed an outperform rating and issued a $19.00 price target on shares of DigitalBridge Group in a report on Wednesday, July 3rd. Truist Financial reduced their target price on shares of DigitalBridge Group from $19.00 to $17.00 and set a buy rating on the stock in a research report on Wednesday, August 21st. Keefe, Bruyette & Woods lowered their price target on shares of DigitalBridge Group from $18.50 to $17.75 and set an outperform rating for the company in a report on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft reduced their price objective on DigitalBridge Group from $17.00 to $16.00 and set a buy rating on the stock in a report on Thursday, August 15th. Finally, Wells Fargo & Company dropped their target price on DigitalBridge Group from $20.00 to $18.00 and set an overweight rating for the company in a research report on Tuesday, August 6th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, DigitalBridge Group has a consensus rating of Buy and an average target price of $19.22.

View Our Latest Research Report on DBRG

DigitalBridge Group Price Performance

Shares of DBRG stock opened at $15.05 on Tuesday. DigitalBridge Group has a one year low of $11.07 and a one year high of $20.99. The stock has a fifty day moving average price of $13.14 and a 200 day moving average price of $14.45. The stock has a market cap of $2.61 billion, a P/E ratio of 9.71, a price-to-earnings-growth ratio of 2.59 and a beta of 1.95.

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

DigitalBridge Group Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date is Monday, September 30th. DigitalBridge Group’s payout ratio is 2.58%.

Hedge Funds Weigh In On DigitalBridge Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC boosted 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 bought a new stake in shares of DigitalBridge Group during the 3rd quarter valued at about $35,000. Quarry LP acquired a new stake in DigitalBridge Group during the fourth quarter worth approximately $41,000. Headlands Technologies LLC grew its stake in DigitalBridge Group by 33,627.3% during the second 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 approximately $138,000. 92.69% of the stock is owned by institutional investors and hedge funds.

About DigitalBridge Group

(Get Free Report)

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.

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