DigitalBridge Group (NYSE:DBRG) Stock Price Down 5% on Analyst Downgrade

Shares of DigitalBridge Group, Inc. (NYSE:DBRG - Get Free Report) fell 5% during mid-day trading on Monday after Wells Fargo & Company lowered their price target on the stock from $18.00 to $16.00. Wells Fargo & Company currently has an overweight rating on the stock. DigitalBridge Group traded as low as $12.69 and last traded at $12.74. 1,649,231 shares were traded during trading, a decline of 29% from the average session volume of 2,312,324 shares. The stock had previously closed at $13.41.

A number of other analysts also recently weighed in on DBRG. Raymond James decreased their price target on DigitalBridge Group from $22.00 to $19.00 and set a "strong-buy" rating for the company in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of DigitalBridge Group from $17.00 to $16.00 and set a "buy" rating for the company in a research report on Thursday, August 15th. Truist Financial reduced their price target on shares of DigitalBridge Group from $19.00 to $17.00 and set a "buy" rating for the company in a report on Wednesday, August 21st. JPMorgan Chase & Co. upped their price objective 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. Finally, B. Riley dropped their price target 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. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, DigitalBridge Group presently has an average rating of "Buy" and a consensus target price of $18.97.

Institutional Trading of DigitalBridge Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Massachusetts Financial Services Co. MA bought a new position in DigitalBridge Group in the second quarter valued at $39,033,000. New South Capital Management Inc. increased its position 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 valued at $53,838,000 after purchasing an additional 1,125,549 shares during the last quarter. Wafra Inc. raised 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 valued at $211,745,000 after buying an additional 1,020,409 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in DigitalBridge Group by 54.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,686,145 shares of the company's stock worth $36,797,000 after buying an additional 952,408 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its stake in DigitalBridge Group by 125.4% in the second quarter. Point72 Asset Management L.P. now owns 1,629,197 shares of the company's stock worth $22,320,000 after buying an additional 906,297 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

DigitalBridge Group Stock Down 6.3 %

The firm has a market capitalization of $2.19 billion, a P/E ratio of 17.22, a PEG ratio of 2.76 and a beta of 1.94. The business's 50-day simple moving average is $14.32 and its 200 day simple moving average is $13.92.

DigitalBridge Group (NYSE:DBRG - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.06). DigitalBridge Group had a return on equity of 4.49% and a net margin of 35.10%. The business had revenue of $390.34 million during the quarter, compared to analysts' expectations of $97.05 million. Sell-side analysts predict that DigitalBridge Group, Inc. will post 0.16 earnings per share for the current year.

DigitalBridge Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date was Monday, September 30th. DigitalBridge Group's dividend payout ratio (DPR) is presently 5.48%.

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.