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

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

DigitalBridge Group Price Performance

Shares of NYSE DBRG opened at $17.29 on Tuesday. The company has a 50 day simple moving average of $18.70 and a 200-day simple moving average of $17.71. The company has a market capitalization of $2.83 billion, a P/E ratio of 35.29 and a beta of 1.91. DigitalBridge Group has a 1 year low of $10.20 and a 1 year high of $20.99.

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

DigitalBridge Group Dividend Announcement

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in DBRG. New York State Common Retirement Fund lifted its position in shares of DigitalBridge Group by 0.3% during the fourth quarter. New York State Common Retirement Fund now owns 151,149 shares of the company’s stock worth $2,651,000 after purchasing an additional 514 shares in the last quarter. Stifel Financial Corp boosted its position in DigitalBridge Group by 0.9% in the 4th quarter. Stifel Financial Corp now owns 59,297 shares of the company’s stock valued at $1,040,000 after buying an additional 538 shares during the period. Arizona State Retirement System grew its stake in shares of DigitalBridge Group by 1.5% in the third quarter. Arizona State Retirement System now owns 46,093 shares of the company’s stock worth $810,000 after acquiring an additional 694 shares in the last quarter. Strs Ohio increased its position in shares of DigitalBridge Group by 2.1% during the third quarter. Strs Ohio now owns 34,200 shares of the company’s stock worth $601,000 after acquiring an additional 700 shares during the period. Finally, Independent Advisor Alliance raised its stake in shares of DigitalBridge Group by 4.5% in the third quarter. Independent Advisor Alliance now owns 17,076 shares of the company’s stock valued at $300,000 after acquiring an additional 734 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

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.