DigitalBridge Group (NYSE:DBRG) Price Target Cut to $19.00 by Analysts at Truist Financial

DigitalBridge Group (NYSE:DBRG - Free Report) had its target price cut by Truist Financial from $22.00 to $19.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Separately, JPMorgan Chase & Co. decreased their price objective on DigitalBridge Group from $25.00 to $23.00 and set an overweight rating on the stock in a report on Wednesday, May 1st. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Buy and an average price target of $21.25.

DigitalBridge Group Stock Performance

Shares of DigitalBridge Group stock traded up $0.17 during trading on Wednesday, reaching $14.28. The company's stock had a trading volume of 2,755,236 shares, compared to its average volume of 2,310,405. The business's fifty day moving average price is $17.50 and its 200-day moving average price is $17.67. DigitalBridge Group has a one year low of $10.39 and a one year high of $20.99. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of 9.21 and a beta of 1.95.

DigitalBridge Group (NYSE:DBRG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 20th. The company reported $0.04 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 analyst estimates of $287.41 million. DigitalBridge Group had a net margin of 26.64% and a return on equity of 3.14%. Sell-side analysts anticipate that DigitalBridge Group will post 0.25 EPS for the current year.

DigitalBridge Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Sunday, June 30th will be paid a $0.01 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.04 dividend on an annualized basis and a yield of 0.28%. DigitalBridge Group's payout ratio is presently 2.58%.

Institutional Investors Weigh In On DigitalBridge Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates raised its position in shares of DigitalBridge Group by 73.7% in the 3rd quarter. Raymond James & Associates now owns 114,123 shares of the company's stock valued at $2,006,000 after acquiring an additional 48,424 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in DigitalBridge Group in the third quarter worth $586,000. Bank of New York Mellon Corp boosted its position in shares of DigitalBridge Group by 5.7% during the third quarter. Bank of New York Mellon Corp now owns 712,822 shares of the company's stock worth $12,531,000 after purchasing an additional 38,170 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of DigitalBridge Group by 21.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,455 shares of the company's stock valued at $623,000 after buying an additional 6,160 shares during the period. Finally, Strs Ohio increased its position in shares of DigitalBridge Group by 2.1% in the 3rd quarter. Strs Ohio now owns 34,200 shares of the company's stock valued at $601,000 after buying an additional 700 shares in 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.