DigitalBridge Group (NYSE:DBRG) Given New $19.00 Price Target at Raymond James

DigitalBridge Group (NYSE:DBRG) had its price objective decreased by Raymond James from $22.00 to $19.00 in a report issued on Thursday, Benzinga reports. Raymond James currently has a strong-buy rating on the stock.

DBRG has been the topic of a number of other research reports. Truist Financial lowered their target price on DigitalBridge Group from $22.00 to $19.00 and set a buy rating on the stock in a research report on Wednesday, May 15th. Keefe, Bruyette & Woods cut their price target on DigitalBridge Group from $18.50 to $17.75 and set an outperform rating for the company in a research note on Tuesday, June 18th. Wells Fargo & Company cut their price target on DigitalBridge Group from $20.00 to $18.00 and set an overweight rating for the company in a research note on Tuesday. B. Riley cut their target price on DigitalBridge Group from $27.00 to $24.00 and set a buy rating for the company in a research note on Tuesday, July 9th. Finally, JPMorgan Chase & Co. cut their target price on DigitalBridge Group from $25.00 to $23.00 and set an overweight rating for the company in a research note on Wednesday, May 1st. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Buy and an average target price of $19.59.

DigitalBridge Group Trading Down 3.4 %

Shares of NYSE:DBRG traded down $0.44 during midday trading on Thursday, hitting $12.58. The company had a trading volume of 2,847,227 shares, compared to its average volume of 2,153,190. The firm has a fifty day simple moving average of $13.35 and a 200 day simple moving average of $16.07. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 8.12, a PEG ratio of 1.38 and a beta of 2.00. DigitalBridge Group has a 12 month low of $12.12 and a 12 month high of $20.99.

DigitalBridge Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.01 per share. The ex-dividend date is Monday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.32%. DigitalBridge Group’s payout ratio is currently 2.58%.

Institutional Investors Weigh In On DigitalBridge Group

Large investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA bought a new position in DigitalBridge Group in the 2nd quarter valued at $39,033,000. Norges Bank bought a new stake in shares of DigitalBridge Group during the 4th quarter worth $31,651,000. New South Capital Management Inc. lifted its holdings in shares of DigitalBridge Group by 40.1% during the 2nd quarter. New South Capital Management Inc. now owns 3,929,762 shares of the company’s stock worth $53,838,000 after acquiring an additional 1,125,549 shares during the last quarter. Wafra Inc. lifted its holdings in shares of DigitalBridge Group by 7.1% during the 2nd quarter. Wafra Inc. now owns 15,455,808 shares of the company’s stock worth $211,745,000 after acquiring an additional 1,020,409 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of DigitalBridge Group by 54.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,686,145 shares of the company’s stock worth $36,797,000 after acquiring an additional 952,408 shares during the last quarter. Hedge funds and other 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.