Truist Financial Has Lowered Expectations for DigitalBridge Group (NYSE:DBRG) Stock Price

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

A number of other brokerages also recently commented on DBRG. JPMorgan Chase & Co. dropped their price objective on shares of 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 raised shares of DigitalBridge Group to a “strong-buy” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods dropped their target price 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. Wells Fargo & Company boosted their price target on shares of DigitalBridge Group from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Finally, JMP Securities began coverage on shares of DigitalBridge Group in a research report on Monday, January 27th. They issued an “outperform” rating and a $16.00 price objective for the company. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, DigitalBridge Group currently has an average rating of “Buy” and a consensus target price of $16.39.

DigitalBridge Group Price Performance

Shares of DBRG opened at $9.14 on Tuesday. DigitalBridge Group has a 1-year low of $8.95 and a 1-year high of $19.49. The firm has a 50-day simple moving average of $10.50 and a two-hundred day simple moving average of $12.24. The stock has a market cap of $1.59 billion, a PE ratio of 304.50, a P/E/G ratio of 3.46 and a beta of 1.91.

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

DigitalBridge Group Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in DigitalBridge Group by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,167,413 shares of the company’s stock valued at $58,895,000 after buying an additional 317,776 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of DigitalBridge Group by 101.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 314,557 shares of the company’s stock worth $4,445,000 after acquiring an additional 158,790 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of DigitalBridge Group by 482.6% in the third quarter. Rockefeller Capital Management L.P. now owns 144,772 shares of the company’s stock valued at $2,046,000 after acquiring an additional 119,922 shares in the last quarter. Holocene Advisors LP acquired a new stake in shares of DigitalBridge Group during the third quarter valued at $3,466,000. Finally, Charles Schwab Investment Management Inc. increased its position in DigitalBridge Group by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,030,657 shares of the company’s stock worth $34,186,000 after purchasing an additional 99,891 shares in the last quarter. Hedge funds and other institutional investors 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.