Truist Financial Has Lowered Expectations for DigitalBridge Group (NYSE:DBRG) Stock Price

DigitalBridge Group (NYSE:DBRG) had its price target dropped by equities research analysts at Truist Financial from $15.00 to $13.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective suggests a potential upside of 38.08% from the stock’s current price.

Several other research analysts have also weighed in on DBRG. JPMorgan Chase & Co. lowered their price target on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 21st. B. Riley lowered their target price on shares of DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Citizens Jmp upgraded shares of DigitalBridge Group to a “strong-buy” rating in a research note on Monday, January 27th. JMP Securities assumed coverage on shares of DigitalBridge Group in a research note on Monday, January 27th. They set an “outperform” rating and a $16.00 price objective on the stock. Finally, Keefe, Bruyette & Woods cut their target price on shares of DigitalBridge Group from $14.00 to $13.50 and set a “market perform” rating for the company in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $16.39.

DigitalBridge Group Stock Up 2.0 %

Shares of DBRG stock opened at $9.42 on Tuesday. DigitalBridge Group has a 12 month low of $8.95 and a 12 month high of $19.49. The company’s fifty day simple moving average is $10.59 and its 200-day simple moving average is $12.30. The firm has a market cap of $1.64 billion, a PE ratio of 313.83, a P/E/G ratio of 3.46 and a beta of 1.91.

DigitalBridge Group (NYSE:DBRG) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.08 by $0.03. The firm had revenue of $101.55 million for the quarter, compared to analysts’ expectations of $93.01 million. DigitalBridge Group had a net margin of 10.98% and a return on equity of 4.29%. On average, equities analysts predict that DigitalBridge Group will post 0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DigitalBridge Group

A number of hedge funds and other institutional investors have recently modified their holdings of DBRG. Sunbelt Securities Inc. grew its stake in shares of DigitalBridge Group by 109.9% in the fourth quarter. Sunbelt Securities Inc. now owns 2,796 shares of the company’s stock valued at $31,000 after acquiring an additional 1,464 shares in the last quarter. Spire Wealth Management bought a new stake in DigitalBridge Group in the 4th quarter valued at about $37,000. Point72 Hong Kong Ltd bought a new position in shares of DigitalBridge Group during the fourth quarter worth approximately $39,000. Manchester Capital Management LLC increased its holdings in shares of DigitalBridge Group by 172.1% during the fourth quarter. Manchester Capital Management LLC now owns 4,372 shares of the company’s stock worth $49,000 after purchasing an additional 2,765 shares during the period. Finally, Meeder Asset Management Inc. raised its position in shares of DigitalBridge Group by 114.0% in the fourth quarter. Meeder Asset Management Inc. now owns 5,087 shares of the company’s stock valued at $57,000 after buying an additional 2,710 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

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.