Keefe, Bruyette & Woods Cuts DigitalBridge Group (NYSE:DBRG) Price Target to $13.50

DigitalBridge Group (NYSE:DBRG) had its price target cut by Keefe, Bruyette & Woods from $14.00 to $13.50 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a market perform rating on the stock.

Several other research firms also recently issued reports on DBRG. Citizens Jmp raised shares of DigitalBridge Group to a “strong-buy” rating in a report on Monday, January 27th. Wells Fargo & Company increased their price objective on shares of DigitalBridge Group from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Truist Financial dropped their price objective on shares of DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. Raymond James dropped their price objective on shares of DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a research note on Tuesday, November 5th. Finally, JMP Securities assumed coverage on shares of DigitalBridge Group in a research note on Monday, January 27th. They issued an “outperform” rating and a $16.00 price objective for the company. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $16.61.

DigitalBridge Group Stock Up 1.9 %

DBRG stock opened at $11.38 on Wednesday. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 379.17, a P/E/G ratio of 3.46 and a beta of 1.91. DigitalBridge Group has a 12 month low of $10.03 and a 12 month high of $19.49. The firm has a 50 day moving average of $10.98 and a two-hundred day moving average of $12.58.

DigitalBridge Group (NYSE:DBRG) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.03. The business had revenue of $101.55 million during the quarter, compared to the consensus estimate of $93.01 million. DigitalBridge Group had a net margin of 10.98% and a return on equity of 4.29%. On average, research analysts expect that DigitalBridge Group will post 0.17 EPS for the current fiscal year.

DigitalBridge Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 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 0.35%. The ex-dividend date of this dividend is Monday, March 31st. DigitalBridge Group’s dividend payout ratio (DPR) is currently 133.33%.

Institutional Investors Weigh In On DigitalBridge Group

A number of hedge funds have recently made changes to their positions in DBRG. Horizon Kinetics Asset Management LLC increased its position in shares of DigitalBridge Group by 868.9% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 4,483,340 shares of the company’s stock worth $50,572,000 after purchasing an additional 4,020,627 shares in the last quarter. Lazard Asset Management LLC grew its holdings in DigitalBridge Group by 384.5% during the 4th quarter. Lazard Asset Management LLC now owns 3,346,966 shares of the company’s stock worth $37,753,000 after acquiring an additional 2,656,100 shares during the last quarter. Brown Advisory Inc. grew its holdings in DigitalBridge Group by 78.2% during the 4th quarter. Brown Advisory Inc. now owns 3,658,935 shares of the company’s stock worth $41,273,000 after acquiring an additional 1,605,391 shares during the last quarter. Potrero Capital Research LLC bought a new stake in DigitalBridge Group during the 3rd quarter worth about $20,201,000. Finally, Balyasny Asset Management L.P. grew its holdings in DigitalBridge Group by 128.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,302,415 shares of the company’s stock worth $25,971,000 after acquiring an additional 1,294,275 shares during the last quarter. Institutional investors and hedge funds 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.