DigitalBridge Group (NYSE:DBRG) Given New $16.00 Price Target at Wells Fargo & Company

DigitalBridge Group (NYSE:DBRG) had its price objective trimmed by Wells Fargo & Company from $18.00 to $16.00 in a research report sent to investors on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other brokerages have also recently issued reports on DBRG. Raymond James dropped their target price on shares of DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. raised their price objective on DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. B. Riley decreased their target price on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft cut their price target on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Finally, Truist Financial decreased their price objective on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. One investment 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, the stock currently has a consensus rating of “Buy” and an average price target of $18.13.

DigitalBridge Group Stock Down 1.6 %

NYSE:DBRG opened at $12.56 on Monday. DigitalBridge Group has a twelve month low of $11.07 and a twelve month high of $20.99. The firm has a market capitalization of $2.19 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 stock’s 50 day moving average price is $14.33 and its two-hundred day moving average price is $13.87.

DigitalBridge Group (NYSE:DBRG) last issued its 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). The firm had revenue of $390.34 million for the quarter, compared to analyst estimates of $97.05 million. DigitalBridge Group had a return on equity of 3.58% and a net margin of 21.42%. As a group, analysts anticipate that DigitalBridge Group will post 0.16 earnings per share for the current year.

DigitalBridge Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 yield of 0.32%. The ex-dividend date is Tuesday, December 31st. DigitalBridge Group’s dividend payout ratio is 5.48%.

Institutional Trading of DigitalBridge Group

A number of institutional investors have recently bought and sold shares of DBRG. Vanguard Group Inc. boosted its stake in shares of DigitalBridge Group by 1.1% in the first quarter. Vanguard Group Inc. now owns 23,274,328 shares of the company’s stock valued at $448,496,000 after buying an additional 256,016 shares during the period. Wafra Inc. raised its holdings in DigitalBridge Group by 7.1% in the 2nd quarter. Wafra Inc. now owns 15,455,808 shares of the company’s stock valued at $211,745,000 after acquiring an additional 1,020,409 shares in the last quarter. New South Capital Management Inc. lifted its position in shares of DigitalBridge Group by 0.3% during the 3rd quarter. New South Capital Management Inc. now owns 3,940,203 shares of the company’s stock valued at $55,675,000 after acquiring an additional 10,441 shares during the period. Legion Partners Asset Management LLC grew its holdings in shares of DigitalBridge Group by 3.3% during the 2nd quarter. Legion Partners Asset Management LLC now owns 3,453,253 shares of the company’s stock worth $47,310,000 after purchasing an additional 111,243 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of DigitalBridge Group in the second quarter worth $39,033,000. Institutional investors own 92.69% of the company’s stock.

About DigitalBridge Group

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.