Truist Financial Cuts DigitalBridge Group (NYSE:DBRG) Price Target to $13.00

DigitalBridge Group (NYSE:DBRG) had its price objective decreased by Truist Financial from $15.00 to $13.00 in a report published on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other brokerages have also recently weighed in on DBRG. B. Riley dropped their price target on shares of DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. cut their target price on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 21st. Citizens Jmp upgraded DigitalBridge Group to a “strong-buy” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods cut their price objective on DigitalBridge Group from $14.00 to $13.50 and set a “market perform” rating on the stock in a report on Wednesday, February 26th. Finally, Wells Fargo & Company raised their target price on DigitalBridge Group from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Monday, February 24th. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, DigitalBridge Group currently has a consensus rating of “Buy” and an average price target of $16.39.

DigitalBridge Group Stock Performance

DBRG opened at $9.27 on Tuesday. The stock has a market capitalization of $1.62 billion, a PE ratio of 309.00, a P/E/G ratio of 3.46 and a beta of 1.91. DigitalBridge Group has a one year low of $8.95 and a one year high of $19.49. The business’s 50 day moving average price is $10.57 and its 200 day moving average price is $12.28.

DigitalBridge Group (NYSE:DBRG) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.08 by $0.03. The business had revenue of $101.55 million for the quarter, compared to analyst estimates of $93.01 million. DigitalBridge Group had a return on equity of 4.29% and a net margin of 10.98%. As a group, equities research analysts forecast that DigitalBridge Group will post 0.17 earnings per share for the current fiscal year.

DigitalBridge Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, March 31st. DigitalBridge Group’s payout ratio is presently 133.33%.

Institutional Trading of DigitalBridge Group

Large investors have recently made changes to their positions in the company. Sunbelt Securities Inc. grew its holdings in DigitalBridge Group by 109.9% during the 4th quarter. Sunbelt Securities Inc. now owns 2,796 shares of the company’s stock worth $31,000 after acquiring an additional 1,464 shares in the last quarter. Spire Wealth Management acquired a new position in shares of DigitalBridge Group during the fourth quarter worth $37,000. Point72 Hong Kong Ltd purchased a new position in DigitalBridge Group in the fourth quarter valued at $39,000. Manchester Capital Management LLC raised its stake in DigitalBridge Group by 172.1% in the fourth quarter. Manchester Capital Management LLC now owns 4,372 shares of the company’s stock valued at $49,000 after buying an additional 2,765 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in DigitalBridge Group by 114.0% during the 4th quarter. Meeder Asset Management Inc. now owns 5,087 shares of the company’s stock worth $57,000 after buying an additional 2,710 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

About DigitalBridge Group

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.