DigitalBridge Group (NYSE:DBRG) Shares Gap Down on Analyst Downgrade

DigitalBridge Group, Inc. (NYSE:DBRG) gapped down prior to trading on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $25.00 to $23.00. The stock had previously closed at $16.44, but opened at $15.20. JPMorgan Chase & Co. currently has an overweight rating on the stock. DigitalBridge Group shares last traded at $14.61, with a volume of 743,105 shares trading hands.

Separately, Truist Financial boosted their price target on shares of DigitalBridge Group from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $21.75.

Hedge Funds Weigh In On DigitalBridge Group

Several institutional investors have recently added to or reduced their stakes in DBRG. Quarry LP purchased a new position in DigitalBridge Group in the fourth quarter valued at approximately $41,000. Harvest Fund Management Co. Ltd bought a new stake in shares of DigitalBridge Group in the third quarter valued at $71,000. CWM LLC lifted its position in shares of DigitalBridge Group by 59.9% during the 4th quarter. CWM LLC now owns 8,371 shares of the company’s stock valued at $147,000 after buying an additional 3,135 shares during the last quarter. Bfsg LLC bought a new position in shares of DigitalBridge Group during the 4th quarter worth $171,000. Finally, New York State Teachers Retirement System purchased a new stake in DigitalBridge Group in the 4th quarter worth about $175,000. Institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Stock Performance

The firm has a market capitalization of $2.28 billion, a P/E ratio of 28.41 and a beta of 1.91. The stock has a 50 day moving average of $18.25 and a 200-day moving average of $17.76.

DigitalBridge Group (NYSE:DBRG) last posted its quarterly earnings results on Tuesday, February 20th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.06. The company had revenue of $350.31 million for the quarter, compared to analyst estimates of $287.41 million. DigitalBridge Group had a net margin of 12.33% and a return on equity of 2.39%. As a group, sell-side analysts expect that DigitalBridge Group, Inc. will post 0.25 EPS for the current year.

DigitalBridge Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Sunday, March 31st were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend was Wednesday, March 27th. DigitalBridge Group’s payout ratio is currently 8.16%.

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.