Analysts Set DigitalBridge Group, Inc. (NYSE:DBRG) Price Target at $17.88

According to recent reports, analysts have collectively assigned an average rating of "Buy" to DigitalBridge Group, Inc. (NYSE:DBRG). This rating comes from eight different ratings firms that are currently following the company's performance. Among these analysts, one has provided a "hold" rating, while six have designated the stock as a "buy" and one has gone so far as to give it a "strong buy" rating. The average price target set by these analysts for the upcoming 12 months is $17.88.

Several brokerages have recently released updated reports regarding DigitalBridge Group. For instance, on November 6th, Keefe, Bruyette & Woods downgraded the company's stock from an "outperform" rating to a "market perform" rating, reducing their price target from $17.75 to $14.00. Similarly, on October 1st, JPMorgan Chase & Co. raised their target price from $22.00 to $23.00, maintaining an "overweight" rating for the stock. On November 5th, Raymond James adjusted their price objective from $19.00 down to $16.00 while reiterating a "strong buy" rating.

Wells Fargo & Company also lowered their target price from $18.00 to $16.00 and affirmed an "overweight" stance. Lastly, on December 11th, Truist Financial adjusted their price target from $17.00 to $15.00, continuing to support a "buy" rating.

Recent Performance and Trading Data

On the trading front, DigitalBridge Group shares opened at $11.37 recently. The company’s stock has recorded a 12-month low of $10.55 and a high of $20.99. It now has a market capitalization of approximately $1.98 billion, a price-to-earnings (P/E) ratio of 15.58, a price-to-earnings growth (P/E/G) ratio of 13.76, and a beta of 1.91. Additionally, the stock has a fifty-day simple moving average of $12.40 and a two-hundred-day simple moving average of $13.27.

Dividend Details

Furthermore, DigitalBridge Group has announced a quarterly dividend of $0.01 per share, set to be paid on January 15th. This dividend applies to investors who are on record as of December 31st, the same day when the ex-dividend date will occur. This results in an annualized dividend of $0.04, translating to a yield of 0.35%. The company currently has a dividend payout ratio (DPR) of 5.48%.

Institutional Ownership Changes

Recent institutional trading activity reveals several large investors adjusting their positions in DigitalBridge Group. nVerses Capital LLC significantly increased its holdings by 633.3% during the second quarter, resulting in ownership of 2,200 shares worth $30,000 after acquiring an additional 1,900 shares. Meeder Asset Management Inc. and Central Pacific Bank Trust Division also entered new positions valued at approximately $34,000 and $35,000, respectively.

Consequently, Blue Trust Inc. elevated its stake by 179.2%, now holding 3,752 shares valued at $51,000 after acquiring more shares. Finally, Headlands Technologies LLC dramatically increased its ownership by over 33,600%, culminating in 7,420 shares worth $102,000. Currently, institutional investors collectively own approximately 92.69% of DigitalBridge Group's stock.

About DigitalBridge Group

DigitalBridge Group is a recognized infrastructure investment firm that specializes in digital infrastructure assets, providing services primarily to institutional investors. Founded in 1991 and headquartered in Boca Raton, Florida, DigitalBridge primarily focuses on investments in data centers, fiber networks, cell towers, small cells, and edge infrastructure, with additional offices located in Los Angeles and New York.

stocks, investment, analysts