Analysts Lower Price Target for DigitalBridge Group

On January 8th, 2025, B. Riley announced a decrease in the price target for DigitalBridge Group (NYSE:DBRG). The new target price has been set at $20.00, down from a previous target of $24.00. Despite the reduction, B. Riley continues to maintain a buy rating on the stock.

DigitalBridge Group has faced scrutiny from various analysts, with several research reports making adjustments to their ratings and price targets. Keefe, Bruyette & Woods recently downgraded DigitalBridge Group's shares from an “outperform” rating to “market perform,” slashing their price target from $17.75 to $14.00 as of November 6th. Equally, Wells Fargo & Company has lowered their target on DigitalBridge shares from $18.00 to $16.00 while assigning an “overweight” rating in a research note dated November 4th.

Further impacting the company's stock, Truist Financial decreased their price target from $17.00 to $15.00, giving it a “buy” rating on December 11th. Raymond James also revised their price objective from $19.00 to $16.00, maintaining a “strong-buy” rating in their report from November 5th. In contrast, JPMorgan Chase & Co. raised their target price from $22.00 to $23.00 on October 1st, offering an “overweight” rating.

Overall, market sentiment appears mixed, with one analyst issuing a hold rating, six analysts providing buy ratings, and one granting a strong buy status to the stock. According to MarketBeat, DigitalBridge Group currently carries an average rating of “Buy” and an average price target of $17.38.

DigitalBridge Group's Stock Performance

The shares of DigitalBridge Group (NYSE:DBRG) opened at $10.96 on Tuesday. The company is navigating through a market cap of $1.91 billion, a PE ratio of 15.01, and a beta of 1.91. Over the past year, the stock has seen a low of $10.55 and a high of $20.99, with current moving averages of $12.29 over the last 50 days and $13.26 for the 200-day mark.

Dividend Information

Recently, DigitalBridge Group declared a quarterly dividend to its investors, scheduled for January 15th. Shareholders who are on record as of December 31st will receive a dividend payout of $0.01 per share. This translates to an annualized dividend of $0.04, presenting a modest yield of 0.36%. The company’s payout ratio stands at 5.48%.

Institutional Holdings

Several institutional investors have been active in adjusting their holdings in DigitalBridge Group. For instance, Nordea Investment Management AB raised its stake by 6.1% during the fourth quarter, acquiring an additional 15,830 shares to bring its total to 273,609 shares valued at around $3.11 million. Franklin Resources also boosted its position by 33.6% in the third quarter, acquiring 45,333 shares for a total of 180,369 shares worth approximately $2.79 million.

Additionally, Tidal Investments LLC increased its holdings by 22.8% during the third quarter, while Sanctuary Advisors LLC raised its stake by 10.3%. Geode Capital Management also saw a boost in holdings by 8.3%, culminating in a strong institutional backdrop where 92.69% of DigitalBridge Group's shares are held by institutional and hedge fund investors.

About DigitalBridge Group

DigitalBridge is an investment firm concentrating on digital infrastructure assets and offers services primarily to institutional investors. Originating in 1991, the company focuses its investments on various sectors, including data centers, cell towers, fiber networks, small cells, and edge infrastructure. It is headquartered in Boca Raton, Florida, with additional offices in Los Angeles and New York.

DigitalBridge, Stock, Investment