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

DigitalBridge Group (NYSE:DBRG) had its price objective raised by equities researchers at Truist Financial from $20.00 to $22.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price points to a potential upside of 21.01% from the stock’s current price.

DigitalBridge Group Stock Down 1.8 %

Shares of NYSE:DBRG opened at $18.18 on Tuesday. The company has a market cap of $2.97 billion, a P/E ratio of 37.10 and a beta of 1.91. DigitalBridge Group has a 52 week low of $10.20 and a 52 week high of $20.99. The business has a fifty day simple moving average of $18.81 and a 200-day simple moving average of $17.71.

DigitalBridge Group (NYSE:DBRG) last issued its quarterly earnings data on Tuesday, February 20th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 2.39% and a net margin of 12.33%. Sell-side analysts expect that DigitalBridge Group will post -0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DigitalBridge Group

A number of institutional investors and hedge funds have recently modified their holdings of DBRG. New York State Common Retirement Fund raised its stake in DigitalBridge Group by 0.3% during the 4th quarter. New York State Common Retirement Fund now owns 151,149 shares of the company’s stock valued at $2,651,000 after purchasing an additional 514 shares during the period. Stifel Financial Corp raised its stake in DigitalBridge Group by 0.9% during the 4th quarter. Stifel Financial Corp now owns 59,297 shares of the company’s stock valued at $1,040,000 after purchasing an additional 538 shares during the period. Arizona State Retirement System raised its stake in DigitalBridge Group by 1.5% during the 3rd quarter. Arizona State Retirement System now owns 46,093 shares of the company’s stock valued at $810,000 after purchasing an additional 694 shares during the period. Strs Ohio raised its stake in DigitalBridge Group by 2.1% during the 3rd quarter. Strs Ohio now owns 34,200 shares of the company’s stock valued at $601,000 after purchasing an additional 700 shares during the period. Finally, Independent Advisor Alliance raised its stake in DigitalBridge Group by 4.5% during the 3rd quarter. Independent Advisor Alliance now owns 17,076 shares of the company’s stock valued at $300,000 after purchasing an additional 734 shares during the period. Institutional investors and hedge funds 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.