DigitalBridge Group (NYSE:DBRG) Cut to “Market Perform” at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods cut shares of DigitalBridge Group (NYSE:DBRG) from an outperform rating to a market perform rating in a research report sent to investors on Wednesday, Marketbeat Ratings reports. The firm currently has $14.00 price target on the stock, down from their prior price target of $17.75.

Several other equities analysts have also recently weighed in on the stock. B. Riley lowered their price objective on shares of DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Wells Fargo & Company dropped their price target on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Truist Financial decreased their price objective on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. Raymond James dropped their target price on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. raised their price target on shares of DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $18.13.

DigitalBridge Group Price Performance

Shares of NYSE DBRG opened at $12.37 on Wednesday. The company has a market cap of $2.15 billion, a PE ratio of 16.92, a price-to-earnings-growth ratio of 2.24 and a beta of 1.94. DigitalBridge Group has a 12 month low of $11.07 and a 12 month high of $20.99. The company has a 50-day simple moving average of $14.33 and a 200-day simple moving average of $13.83.

DigitalBridge Group (NYSE:DBRG) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). The company had revenue of $390.34 million for the quarter, compared to the consensus estimate of $97.05 million. DigitalBridge Group had a return on equity of 3.58% and a net margin of 21.42%. On average, analysts anticipate that DigitalBridge Group will post 0.16 EPS for the current year.

DigitalBridge Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.04 dividend on an annualized basis and a yield of 0.32%. DigitalBridge Group’s dividend payout ratio is currently 5.48%.

Institutional Trading of DigitalBridge Group

Institutional investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC bought a new position in shares of DigitalBridge Group during the 3rd quarter valued at $581,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in DigitalBridge Group by 24.9% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,364,524 shares of the company’s stock valued at $19,281,000 after buying an additional 271,853 shares in the last quarter. Segall Bryant & Hamill LLC raised its holdings in DigitalBridge Group by 16.2% during the third quarter. Segall Bryant & Hamill LLC now owns 882,511 shares of the company’s stock valued at $12,470,000 after buying an additional 123,083 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of DigitalBridge Group in the third quarter worth about $34,000. Finally, Quest Partners LLC boosted its stake in shares of DigitalBridge Group by 321.0% during the 3rd quarter. Quest Partners LLC now owns 9,309 shares of the company’s stock worth $132,000 after acquiring an additional 7,098 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

DigitalBridge Group Company Profile

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.