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

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

DigitalBridge Group Trading Down 2.7 %

Shares of NYSE:DBRG opened at $17.70 on Tuesday. The company has a fifty day simple moving average of $18.78 and a 200 day simple moving average of $17.71. The firm has a market cap of $2.89 billion, a PE ratio of 36.11 and a beta of 1.91. 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 (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.06. DigitalBridge Group had a net margin of 12.33% and a return on equity of 2.39%. The business had revenue of $350.31 million during the quarter, compared to analyst estimates of $287.41 million. As a group, equities research analysts forecast that DigitalBridge Group will post -0.14 EPS for the current fiscal year.

DigitalBridge Group Dividend Announcement

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

Institutional Trading of DigitalBridge Group

Institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. bought a new stake in DigitalBridge Group during the fourth quarter valued at $19,351,000. Vanguard Group Inc. increased its stake in DigitalBridge Group by 0.4% during the third quarter. Vanguard Group Inc. now owns 23,377,984 shares of the company’s stock valued at $410,985,000 after purchasing an additional 83,381 shares during the last quarter. Wellington Management Group LLP bought a new stake in DigitalBridge Group during the third quarter valued at $47,948,000. Raymond James & Associates increased its stake in DigitalBridge Group by 311.5% during the fourth quarter. Raymond James & Associates now owns 469,647 shares of the company’s stock valued at $8,238,000 after purchasing an additional 355,524 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in DigitalBridge Group by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,515,517 shares of the company’s stock valued at $26,643,000 after purchasing an additional 33,936 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

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.