DigitalBridge Group (NYSE:DBRG) Now Covered by Truist Financial

Truist Financial initiated coverage on shares of DigitalBridge Group (NYSE:DBRG) in a research report released on Tuesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $16.00 price target on the stock.

A number of other brokerages have also commented on DBRG. Royal Bank Of Canada lowered shares of DigitalBridge Group from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $23.00 to $16.00 in a report on Tuesday, December 30th. Keefe, Bruyette & Woods raised their target price on DigitalBridge Group from $13.50 to $16.00 and gave the company a “market perform” rating in a research note on Tuesday, December 30th. Weiss Ratings raised DigitalBridge Group from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, March 2nd. B. Riley Financial cut DigitalBridge Group from a “buy” rating to a “hold” rating and cut their price target for the stock from $20.00 to $16.00 in a research note on Tuesday, December 30th. Finally, TD Cowen downgraded DigitalBridge Group from a “buy” rating to a “hold” rating and set a $16.00 price target for the company. in a report on Tuesday, December 30th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, DigitalBridge Group currently has an average rating of “Hold” and an average price target of $16.00.

DigitalBridge Group Trading Up 0.2%

NYSE DBRG opened at $15.43 on Tuesday. The stock has a market cap of $2.82 billion, a P/E ratio of 34.28 and a beta of 1.67. The company’s fifty day simple moving average is $15.40 and its 200-day simple moving average is $13.53. DigitalBridge Group has a 52 week low of $6.41 and a 52 week high of $15.55.

DigitalBridge Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Tuesday, March 31st. DigitalBridge Group’s dividend payout ratio is 8.89%.

Institutional Investors Weigh In On DigitalBridge Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pentwater Capital Management LP bought a new position in shares of DigitalBridge Group during the fourth quarter worth about $176,410,000. KRYGER CAPITAL Ltd bought a new stake in DigitalBridge Group in the fourth quarter valued at about $75,234,000. Soros Fund Management LLC acquired a new stake in DigitalBridge Group during the fourth quarter valued at approximately $36,816,000. Portolan Capital Management LLC lifted its holdings in DigitalBridge Group by 77.4% during the 3rd quarter. Portolan Capital Management LLC now owns 5,468,226 shares of the company’s stock worth $63,978,000 after buying an additional 2,386,066 shares during the last quarter. Finally, Toronto Dominion Bank acquired a new position in shares of DigitalBridge Group in the 4th quarter worth approximately $36,326,000. Institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Company Profile

DigitalBridge Group, Inc (NYSE: DBRG) is a specialized global investment firm focused exclusively on digital infrastructure. The company originates, acquires, and manages a diversified portfolio of businesses that support the digital economy, including data centers, cell towers, small cells, fiber networks, edge infrastructure and related services. DigitalBridge seeks to generate sustainable, long-term returns for its investors by deploying capital into high-growth sectors driven by increasing data consumption, 5G deployment and cloud adoption.

Through its dedicated investment platforms, DigitalBridge provides equity and debt financing solutions to operators and owners of digital infrastructure assets.