Truist Financial Raises DigitalBridge Group (NYSE:DBRG) Price Target to $22.00

DigitalBridge Group (NYSE:DBRG) had its target price boosted by Truist Financial from $20.00 to $22.00 in a research note issued to investors on Tuesday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

DigitalBridge Group Stock Performance

DigitalBridge Group stock opened at $17.29 on Tuesday. The company has a market capitalization of $2.83 billion, a PE ratio of 35.29 and a beta of 1.91. The stock has a 50-day moving average price of $18.64 and a two-hundred day moving average price of $17.71. DigitalBridge Group has a 12 month low of $10.20 and a 12 month high of $20.99.

DigitalBridge Group (NYSE:DBRG) last issued its quarterly earnings results on Tuesday, February 20th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.06. The company had revenue of $350.31 million during the quarter, compared to analysts’ expectations of $287.41 million. DigitalBridge Group had a return on equity of 2.39% and a net margin of 12.33%. As a group, analysts predict that DigitalBridge Group will post 0.25 earnings per share for the current fiscal year.

DigitalBridge Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Sunday, March 31st were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.04 annualized dividend and a dividend yield of 0.23%. DigitalBridge Group’s payout ratio is 8.16%.

Institutional Investors Weigh In On DigitalBridge Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its stake in shares of DigitalBridge Group by 8.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 180,038 shares of the company’s stock valued at $3,469,000 after buying an additional 14,390 shares during the period. Kingswood Wealth Advisors LLC acquired a new stake in DigitalBridge Group during the first quarter worth approximately $216,000. Fulton Bank N.A. grew its stake in DigitalBridge Group by 30.2% during the first quarter. Fulton Bank N.A. now owns 18,831 shares of the company’s stock worth $363,000 after purchasing an additional 4,372 shares during the period. Los Angeles Capital Management LLC grew its stake in DigitalBridge Group by 56.0% during the first quarter. Los Angeles Capital Management LLC now owns 106,408 shares of the company’s stock worth $2,050,000 after purchasing an additional 38,213 shares during the period. Finally, Wellington Management Group LLP grew its stake in DigitalBridge Group by 5.3% during the fourth quarter. Wellington Management Group LLP now owns 2,872,338 shares of the company’s stock worth $50,381,000 after purchasing an additional 144,945 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

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.