DigitalBridge Group, Inc. (NYSE:DBRG – Get Free Report) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 15,620,000 shares, an increase of 7.1% from the October 15th total of 14,580,000 shares. Based on an average daily trading volume, of 1,740,000 shares, the short-interest ratio is currently 9.0 days. Approximately 9.7% of the shares of the company are sold short.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on DBRG. TheStreet raised DigitalBridge Group from a “d” rating to a “c-” rating in a research note on Wednesday, November 1st. JPMorgan Chase & Co. raised DigitalBridge Group from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $19.00 to $25.00 in a research note on Thursday, September 28th. Raymond James dropped their price objective on DigitalBridge Group from $25.00 to $24.00 and set a “strong-buy” rating for the company in a research note on Thursday, November 2nd. Royal Bank of Canada raised their price objective on DigitalBridge Group from $14.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday, August 14th. Finally, Truist Financial dropped their price objective on DigitalBridge Group from $35.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, September 20th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $21.94.
Institutional Investors Weigh In On DigitalBridge Group
DigitalBridge Group Price Performance
Shares of DBRG stock traded up $0.33 during mid-day trading on Friday, hitting $16.70. 1,038,933 shares of the company’s stock were exchanged, compared to its average volume of 1,909,846. DigitalBridge Group has a fifty-two week low of $9.99 and a fifty-two week high of $18.43. The stock has a 50-day simple moving average of $16.44 and a two-hundred day simple moving average of $15.18.
DigitalBridge Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Sunday, December 31st will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.24%. The ex-dividend date is Thursday, December 28th. DigitalBridge Group’s dividend payout ratio (DPR) is -19.05%.
DigitalBridge Group Company Profile
DigitalBridge (NYSE: DBRG) is a leading global digital infrastructure firm. With a heritage of over 25 years investing in and operating businesses across the digital ecosystem including cell towers, data centers, fiber, small cells, and edge infrastructure, the DigitalBridge team manages a $69 billion portfolio of digital infrastructure assets on behalf of its limited partners and shareholders.
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