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

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

DigitalBridge Group Trading Down 1.4 %

Shares of DBRG opened at $17.29 on Tuesday. DigitalBridge Group has a 52 week low of $10.20 and a 52 week high of $20.99. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 35.29 and a beta of 1.91. The stock has a 50 day moving average of $18.70 and a 200-day moving average of $17.71.

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

DigitalBridge Group Dividend Announcement

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

Institutional Trading of DigitalBridge Group

Several hedge funds have recently bought and sold shares of DBRG. Nomura Asset Management Co. Ltd. grew its position in DigitalBridge Group by 76.9% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 2,300 shares of the company’s stock worth $28,000 after purchasing an additional 1,000 shares during the last quarter. Quarry LP bought a new stake in DigitalBridge Group during the 1st quarter valued at $32,000. Dark Forest Capital Management LP boosted its position in DigitalBridge Group by 161.1% during the 1st quarter. Dark Forest Capital Management LP now owns 2,781 shares of the company’s stock worth $33,000 after acquiring an additional 1,716 shares during the period. Sunbelt Securities Inc. bought a new position in shares of DigitalBridge Group in the first quarter worth $34,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of DigitalBridge Group during the fourth quarter valued at $45,000. 92.69% of the stock is currently owned by institutional investors.

DigitalBridge Group Company Profile

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.