Truist Financial Cuts DigitalBridge Group (NYSE:DBRG) Price Target to $15.00

DigitalBridge Group (NYSE:DBRG) had its target price cut by Truist Financial from $17.00 to $15.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also recently weighed in on DBRG. JPMorgan Chase & Co. lifted their target price on DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Keefe, Bruyette & Woods cut DigitalBridge Group from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $17.75 to $14.00 in a report on Wednesday, November 6th. Raymond James cut their price target on shares of DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft decreased 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 note on Thursday, August 15th. Finally, Wells Fargo & Company cut their target price on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, DigitalBridge Group has a consensus rating of “Buy” and an average target price of $17.88.

DigitalBridge Group Stock Down 1.0 %

Shares of DBRG opened at $12.25 on Wednesday. DigitalBridge Group has a fifty-two week low of $11.07 and a fifty-two week high of $20.99. The company’s fifty day moving average is $13.84 and its two-hundred day moving average is $13.46. The firm has a market cap of $2.13 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 14.21 and a beta of 1.89.

DigitalBridge Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.01 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.33%. DigitalBridge Group’s payout ratio is currently 5.48%.

Institutional Investors Weigh In On DigitalBridge Group

A number of large investors have recently added to or reduced their stakes in DBRG. nVerses Capital LLC lifted its holdings in DigitalBridge Group by 633.3% in the 2nd quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock worth $30,000 after buying an additional 1,900 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of DigitalBridge Group during the third quarter worth about $34,000. Central Pacific Bank Trust Division acquired a new position in shares of DigitalBridge Group in the third quarter worth about $35,000. Blue Trust Inc. lifted its stake in shares of DigitalBridge Group by 179.2% in the third quarter. Blue Trust Inc. now owns 3,752 shares of the company’s stock worth $51,000 after acquiring an additional 2,408 shares in the last quarter. Finally, Headlands Technologies LLC boosted its holdings in DigitalBridge Group by 33,627.3% in the second quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock valued at $102,000 after purchasing an additional 7,398 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

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.