DigitalBridge Group (NYSE:DBRG) Given New $22.00 Price Target at Truist Financial

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

DigitalBridge Group Stock Performance

DBRG stock opened at $17.70 on Tuesday. DigitalBridge Group has a one year low of $10.20 and a one year high of $20.99. The stock has a market capitalization of $2.89 billion, a PE ratio of 36.11 and a beta of 1.91. The company has a fifty day moving average of $18.78 and a 200-day moving average of $17.71.

DigitalBridge Group (NYSE:DBRG) last announced its quarterly earnings results on Tuesday, February 20th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. The business had revenue of $350.31 million during the quarter, compared to the consensus estimate of $287.41 million. DigitalBridge Group had a net margin of 12.33% and a return on equity of 2.39%. Equities analysts forecast that DigitalBridge Group will post -0.14 earnings per share for the current fiscal year.

DigitalBridge Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Sunday, March 31st were issued a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.23%. DigitalBridge Group’s dividend payout ratio is presently 8.16%.

Hedge Funds Weigh In On DigitalBridge Group

Large investors have recently made changes to their positions in the stock. Pacer Advisors Inc. purchased a new position in shares of DigitalBridge Group in the 4th quarter valued at about $19,351,000. Vanguard Group Inc. increased its holdings in DigitalBridge Group by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 23,377,984 shares of the company’s stock valued at $410,985,000 after acquiring an additional 83,381 shares in the last quarter. Wellington Management Group LLP purchased a new position in DigitalBridge Group during the 3rd quarter valued at about $47,948,000. Raymond James & Associates increased its holdings in DigitalBridge Group by 311.5% during the 4th quarter. Raymond James & Associates now owns 469,647 shares of the company’s stock valued at $8,238,000 after acquiring an additional 355,524 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in DigitalBridge Group by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,515,517 shares of the company’s stock valued at $26,643,000 after acquiring an additional 33,936 shares in the last quarter. Hedge funds and other 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.