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

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

DBRG has been the topic of several other research reports. JMP Securities initiated coverage on DigitalBridge Group in a report on Monday, January 27th. They set an “outperform” rating and a $16.00 price target on the stock. Wells Fargo & Company increased their target price on shares of DigitalBridge Group from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Citizens Jmp upgraded shares of DigitalBridge Group to a “strong-buy” rating in a report on Monday, January 27th. JPMorgan Chase & Co. cut their price target on shares of DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, January 21st. Finally, B. Riley decreased their target price on DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, DigitalBridge Group has a consensus rating of “Buy” and a consensus target price of $16.39.

DigitalBridge Group Stock Down 2.9 %

Shares of NYSE:DBRG opened at $9.14 on Tuesday. The firm has a fifty day simple moving average of $10.50 and a two-hundred day simple moving average of $12.24. DigitalBridge Group has a 52 week low of $8.95 and a 52 week high of $19.49. The stock has a market capitalization of $1.59 billion, a P/E ratio of 304.50, a PEG ratio of 3.46 and a beta of 1.91.

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

DigitalBridge Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.01 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.44%. DigitalBridge Group’s dividend payout ratio is presently 133.33%.

Institutional Trading of DigitalBridge Group

Several hedge funds have recently modified their holdings of the company. Sunbelt Securities Inc. boosted its stake in DigitalBridge Group by 109.9% in the 4th quarter. Sunbelt Securities Inc. now owns 2,796 shares of the company’s stock worth $31,000 after purchasing an additional 1,464 shares in the last quarter. Spire Wealth Management acquired a new stake in shares of DigitalBridge Group during the 4th quarter valued at about $37,000. Point72 Hong Kong Ltd purchased a new stake in shares of DigitalBridge Group in the fourth quarter valued at approximately $39,000. Manchester Capital Management LLC lifted its holdings in DigitalBridge Group by 172.1% during the fourth quarter. Manchester Capital Management LLC now owns 4,372 shares of the company’s stock valued at $49,000 after purchasing an additional 2,765 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its stake 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 in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

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.