DigitalBridge Group, Inc. (NYSE:DBRG - Get Free Report) shot up 11.6% on Thursday following a better than expected earnings announcement. The company traded as high as $12.09 and last traded at $12.00. 1,164,298 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 2,147,720 shares. The stock had previously closed at $10.75.
The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.03. DigitalBridge Group had a return on equity of 3.58% and a net margin of 21.42%. The business had revenue of $101.55 million during the quarter, compared to the consensus estimate of $93.01 million.
DigitalBridge Group Announces Dividend
The firm also recently disclosed 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 0.33%. The ex-dividend date of this dividend is Monday, March 31st. DigitalBridge Group's payout ratio is 133.33%.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on DBRG. Citizens Jmp raised DigitalBridge Group to a "strong-buy" rating in a research report on Monday, January 27th. JMP Securities began coverage on DigitalBridge Group in a research report on Monday, January 27th. They set an "outperform" rating and a $16.00 price objective for the company. Wells Fargo & Company cut their price objective on DigitalBridge Group from $18.00 to $16.00 and set an "overweight" rating for the company in a research report on Monday, November 4th. JPMorgan Chase & Co. cut their price objective on DigitalBridge Group from $20.00 to $18.00 and set an "overweight" rating for the company in a research report on Tuesday, January 21st. Finally, Raymond James cut their price objective on DigitalBridge Group from $19.00 to $16.00 and set a "strong-buy" rating for the company in a research report on Tuesday, November 5th. 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 data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $16.67.
Check Out Our Latest Stock Report on DigitalBridge Group
Hedge Funds Weigh In On DigitalBridge Group
Several institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio grew its position in DigitalBridge Group by 26.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 581,594 shares of the company's stock valued at $6,560,000 after acquiring an additional 122,047 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in shares of DigitalBridge Group by 109.9% in the 4th quarter. Sunbelt Securities Inc. now owns 2,796 shares of the company's stock valued at $31,000 after buying an additional 1,464 shares during the period. GTS Securities LLC purchased a new position in shares of DigitalBridge Group in the 4th quarter valued at about $216,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of DigitalBridge Group by 17.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 370,164 shares of the company's stock valued at $4,175,000 after buying an additional 55,607 shares during the period. Finally, Tidal Investments LLC boosted its stake in shares of DigitalBridge Group by 4.6% in the 4th quarter. Tidal Investments LLC now owns 104,629 shares of the company's stock valued at $1,180,000 after buying an additional 4,634 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.
DigitalBridge Group Trading Down 0.5 %
The firm has a 50 day moving average price of $10.99 and a 200-day moving average price of $12.62. The firm has a market cap of $2.12 billion, a PE ratio of 16.68, a PEG ratio of 3.04 and a beta of 1.91.
DigitalBridge Group Company Profile
(
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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.
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