Raymond James Has Lowered Expectations for DigitalBridge Group (NYSE:DBRG) Stock Price

by · The Markets Daily

DigitalBridge Group (NYSE:DBRG – Free Report) had its price target trimmed by Raymond James from $19.00 to $16.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a strong-buy rating on the stock.

A number of other research firms also recently issued reports on DBRG. Wells Fargo & Company cut their price objective on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday. Deutsche Bank Aktiengesellschaft cut their target price on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. JPMorgan Chase & Co. upped their price target on shares of DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Truist Financial lowered their price target on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Finally, B. Riley dropped their target price on shares of DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, DigitalBridge Group presently has a consensus rating of “Buy” and an average price target of $18.13.

Get Our Latest Stock Report on DigitalBridge Group

DigitalBridge Group Trading Down 1.8 %

Shares of DigitalBridge Group stock traded down $0.22 during trading on Tuesday, hitting $12.34. 218,511 shares of the stock were exchanged, compared to its average volume of 2,326,720. DigitalBridge Group has a 1-year low of $11.07 and a 1-year high of $20.99. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 2.21 and a beta of 1.94. The company has a fifty day moving average price of $14.33 and a 200-day moving average price of $13.87.

DigitalBridge Group (NYSE:DBRG – Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). DigitalBridge Group had a return on equity of 3.58% and a net margin of 21.42%. The firm had revenue of $390.34 million for the quarter, compared to analyst estimates of $97.05 million. Equities research analysts forecast that DigitalBridge Group will post 0.16 EPS for the current fiscal year.

DigitalBridge Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date is Tuesday, December 31st. DigitalBridge Group’s payout ratio is 5.48%.

Hedge Funds Weigh In On DigitalBridge Group

A number of hedge funds have recently bought and sold shares of DBRG. Massachusetts Financial Services Co. MA purchased a new stake in shares of DigitalBridge Group during the 2nd quarter worth approximately $39,033,000. New South Capital Management Inc. grew its position in shares of DigitalBridge Group by 40.1% during the 2nd quarter. New South Capital Management Inc. now owns 3,929,762 shares of the company’s stock valued at $53,838,000 after purchasing an additional 1,125,549 shares in the last quarter. Wafra Inc. grew its stake in DigitalBridge Group by 7.1% in the 2nd quarter. Wafra Inc. now owns 15,455,808 shares of the company’s stock worth $211,745,000 after buying an additional 1,020,409 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of DigitalBridge Group by 54.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,686,145 shares of the company’s stock valued at $36,797,000 after purchasing an additional 952,408 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its position in DigitalBridge Group by 125.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,629,197 shares of the company’s stock worth $22,320,000 after purchasing an additional 906,297 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

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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