DigitalBridge Group (NYSE:DBRG) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of DigitalBridge Group (NYSE:DBRG – Free Report) to a hold rating in a research report sent to investors on Saturday,Wall Street Zen reports.

Separately, Weiss Ratings cut shares of DigitalBridge Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, August 31st. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, DigitalBridge Group presently has a consensus rating of “Hold” and an average target price of $16.00.

Read Our Latest Stock Analysis on DigitalBridge Group

DigitalBridge Group Stock Performance

DigitalBridge Group stock opened at $15.93 on Friday. DigitalBridge Group has a 1 year low of $8.94 and a 1 year high of $15.98. The firm’s 50-day moving average is $15.87 and its 200-day moving average is $15.67. The company has a market cap of $2.99 billion, a P/E ratio of 10.34 and a beta of 1.47.

DigitalBridge Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Wednesday, September 30th. DigitalBridge Group’s payout ratio is presently 2.60%.

Institutional Investors Weigh In On DigitalBridge Group

Several large investors have recently made changes to their positions in the company. Parallel Advisors LLC boosted its position in shares of DigitalBridge Group by 70.4% during the first quarter. Parallel Advisors LLC now owns 1,891 shares of the company’s stock worth $29,000 after buying an additional 781 shares during the period. Handelsbanken Fonder AB raised its position in shares of DigitalBridge Group by 3.0% during the 4th quarter. Handelsbanken Fonder AB now owns 37,500 shares of the company’s stock worth $575,000 after buying an additional 1,100 shares in the last quarter. Cetera Investment Advisers raised its position in shares of DigitalBridge Group by 4.4% during the 4th quarter. Cetera Investment Advisers now owns 28,921 shares of the company’s stock worth $444,000 after buying an additional 1,214 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of DigitalBridge Group by 2.5% in the 4th quarter. Cerity Partners LLC now owns 53,055 shares of the company’s stock worth $814,000 after acquiring an additional 1,274 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in shares of DigitalBridge Group by 12.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 11,746 shares of the company’s stock worth $122,000 after acquiring an additional 1,309 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

About DigitalBridge Group

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DigitalBridge Group, Inc (NYSE: DBRG) is a specialized global investment firm focused exclusively on digital infrastructure. The company originates, acquires, and manages a diversified portfolio of businesses that support the digital economy, including data centers, cell towers, small cells, fiber networks, edge infrastructure and related services. DigitalBridge seeks to generate sustainable, long-term returns for its investors by deploying capital into high-growth sectors driven by increasing data consumption, 5G deployment and cloud adoption.

Through its dedicated investment platforms, DigitalBridge provides equity and debt financing solutions to operators and owners of digital infrastructure assets.

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