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

DigitalBridge Group (NYSE:DBRG) had its price objective boosted by Truist Financial from $20.00 to $22.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

DigitalBridge Group Price Performance

Shares of DBRG stock opened at $17.29 on Tuesday. The business 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. The firm has a market cap of $2.83 billion, a P/E ratio of 35.29 and a beta of 1.91.

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 the consensus estimate of ($0.02) by $0.06. DigitalBridge Group had a return on equity of 2.39% and a net margin of 12.33%. The firm had revenue of $350.31 million during the quarter, compared to analyst estimates of $287.41 million. As a group, research analysts expect that DigitalBridge Group will post 0.25 EPS for the current fiscal year.

DigitalBridge Group Dividend Announcement

The company also recently declared 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. This represents a $0.04 annualized dividend and a yield of 0.23%. The ex-dividend date was Wednesday, March 27th. DigitalBridge Group’s dividend payout ratio (DPR) is currently 8.16%.

Institutional Investors Weigh In On DigitalBridge Group

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in DigitalBridge Group by 2.3% during the first quarter. Vanguard Group Inc. now owns 74,983,124 shares of the company’s stock worth $539,879,000 after purchasing an additional 1,666,885 shares during the last quarter. State Street Corp lifted its stake in shares of DigitalBridge Group by 18.6% in the 1st quarter. State Street Corp now owns 20,337,683 shares of the company’s stock valued at $146,431,000 after acquiring an additional 3,184,920 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of DigitalBridge Group by 28.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 18,874,133 shares of the company’s stock valued at $92,106,000 after acquiring an additional 4,176,103 shares during the last quarter. BlackRock Inc. lifted its stake in shares of DigitalBridge Group by 5.9% in the 2nd quarter. BlackRock Inc. now owns 11,325,685 shares of the company’s stock valued at $166,601,000 after acquiring an additional 634,029 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of DigitalBridge Group by 3.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,838,900 shares of the company’s stock valued at $49,241,000 after acquiring an additional 222,585 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.