Truist Financial Initiates Coverage on DigitalBridge Group (NYSE:DBRG)

Stock analysts at Truist Financial started coverage on shares of DigitalBridge Group (NYSE:DBRG) in a research note issued on Tuesday, MarketBeat reports. The firm set a “buy” rating and a $16.00 price target on the stock. Truist Financial’s price objective would suggest a potential upside of 3.59% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. Weiss Ratings upgraded DigitalBridge Group from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, March 2nd. Royal Bank Of Canada lowered shares of DigitalBridge Group from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $23.00 to $16.00 in a research note on Tuesday, December 30th. Raymond James Financial downgraded shares of DigitalBridge Group from a “strong-buy” rating to an “underperform” rating in a report on Tuesday, January 27th. Citizens Jmp lowered shares of DigitalBridge Group from a “market outperform” rating to a “hold” rating and set a $16.00 price target on the stock. in a research report on Monday, December 29th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of DigitalBridge Group from $13.50 to $16.00 and gave the stock a “market perform” rating in a report on Tuesday, December 30th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, DigitalBridge Group currently has an average rating of “Hold” and a consensus price target of $16.00.

DigitalBridge Group Stock Up 0.2%

Shares of NYSE:DBRG opened at $15.45 on Tuesday. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of 34.32 and a beta of 1.61. DigitalBridge Group has a 12-month low of $6.41 and a 12-month high of $15.55. The business’s 50 day moving average is $15.41 and its 200 day moving average is $13.54.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DBRG. CWM LLC raised its stake in shares of DigitalBridge Group by 2.5% during the 3rd quarter. CWM LLC now owns 31,239 shares of the company’s stock worth $365,000 after purchasing an additional 755 shares during the period. Stoneridge Investment Partners LLC boosted its holdings in shares of DigitalBridge Group by 7.9% in the 3rd quarter. Stoneridge Investment Partners LLC now owns 14,153 shares of the company’s stock worth $166,000 after buying an additional 1,037 shares during the last quarter. Handelsbanken Fonder AB grew its position in DigitalBridge Group by 3.0% during the fourth quarter. Handelsbanken Fonder AB now owns 37,500 shares of the company’s stock valued at $575,000 after buying an additional 1,100 shares during the period. Cetera Investment Advisers grew its position in DigitalBridge Group by 4.4% during the fourth quarter. Cetera Investment Advisers now owns 28,921 shares of the company’s stock valued at $444,000 after buying an additional 1,214 shares during the period. Finally, Arizona State Retirement System increased its holdings in DigitalBridge Group by 2.4% during the third quarter. Arizona State Retirement System now owns 52,115 shares of the company’s stock worth $610,000 after buying an additional 1,244 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

About DigitalBridge Group

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.