Brokerages Set DigitalBridge Group, Inc. (NYSE:DBRG) PT at $16.00

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) have received a consensus rating of “Hold” from the nine analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $16.00.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of DigitalBridge Group in a research note on Friday, May 29th.

Institutional Investors Weigh In On DigitalBridge Group

A number of hedge funds have recently modified their holdings of the company. Parallel Advisors LLC lifted its holdings in shares of DigitalBridge Group by 70.4% in the 1st quarter. Parallel Advisors LLC now owns 1,891 shares of the company’s stock valued at $29,000 after purchasing an additional 781 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of DigitalBridge Group by 3.0% during the fourth quarter. Handelsbanken Fonder AB now owns 37,500 shares of the company’s stock worth $575,000 after purchasing an additional 1,100 shares during the period. Cetera Investment Advisers increased its stake in DigitalBridge Group by 4.4% in the 4th quarter. Cetera Investment Advisers now owns 28,921 shares of the company’s stock valued at $444,000 after buying an additional 1,214 shares during the period. Cerity Partners LLC raised its position in DigitalBridge Group by 2.5% during the 4th quarter. Cerity Partners LLC now owns 53,055 shares of the company’s stock worth $814,000 after buying an additional 1,274 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in DigitalBridge Group by 12.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 11,746 shares of the company’s stock worth $122,000 after buying an additional 1,309 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Price Performance

DBRG stock opened at $15.95 on Friday. DigitalBridge Group has a 1 year low of $8.94 and a 1 year high of $15.95. The firm has a market capitalization of $2.91 billion, a PE ratio of 10.35 and a beta of 1.47. The business has a 50 day simple moving average of $15.77 and a 200-day simple moving average of $15.59.

DigitalBridge Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Wednesday, September 30th. DigitalBridge Group’s payout ratio is currently 2.60%.

DigitalBridge Group Company Profile

DigitalBridge Group, Inc (NYSE: DBRG) is a specialized global investment firm focused exclusively on digital infrastructure. The company originates, acquires, and manages a diversified portfolio of businesses that support the digital economy, including data centers, cell towers, small cells, fiber networks, edge infrastructure and related services. DigitalBridge seeks to generate sustainable, long-term returns for its investors by deploying capital into high-growth sectors driven by increasing data consumption, 5G deployment and cloud adoption.

Through its dedicated investment platforms, DigitalBridge provides equity and debt financing solutions to operators and owners of digital infrastructure assets.