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

DigitalBridge Group (NYSE:DBRG) had its price target decreased by Truist Financial from $17.00 to $15.00 in a report released on Wednesday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other research analysts also recently commented on the company. JPMorgan Chase & Co. increased their target price on DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft reduced their price objective on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Wells Fargo & Company lowered their target price on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Keefe, Bruyette & Woods downgraded shares of DigitalBridge Group from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $17.75 to $14.00 in a research report on Wednesday, November 6th. Finally, Raymond James lowered their price objective on shares of DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $17.88.

DigitalBridge Group Stock Performance

Shares of DBRG stock opened at $12.25 on Wednesday. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 14.21 and a beta of 1.89. DigitalBridge Group has a one year low of $11.07 and a one year high of $20.99. The company’s 50-day simple moving average is $13.84 and its 200-day simple moving average is $13.46.

DigitalBridge Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.33%. DigitalBridge Group’s dividend payout ratio (DPR) is presently 5.48%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA bought a new stake in shares of DigitalBridge Group during the second quarter valued at approximately $39,033,000. Potrero Capital Research LLC acquired a new stake in DigitalBridge Group in the 3rd quarter valued at approximately $20,201,000. New South Capital Management Inc. raised its stake in DigitalBridge Group by 40.1% during the 2nd quarter. New South Capital Management Inc. now owns 3,929,762 shares of the company’s stock valued at $53,838,000 after acquiring an additional 1,125,549 shares in the last quarter. Wafra Inc. boosted its position in DigitalBridge Group by 7.1% during the 2nd quarter. Wafra Inc. now owns 15,455,808 shares of the company’s stock worth $211,745,000 after acquiring an additional 1,020,409 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of DigitalBridge Group by 54.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,686,145 shares of the company’s stock worth $36,797,000 after purchasing an additional 952,408 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

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.