Truist Financial Lowers DigitalBridge Group (NYSE:DBRG) Price Target to $13.00

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

Several other equities analysts have also recently issued reports on DBRG. Citizens Jmp upgraded DigitalBridge Group to a “strong-buy” rating in a report on Monday, January 27th. JMP Securities assumed coverage on DigitalBridge Group in a research note on Monday, January 27th. They issued an “outperform” rating and a $16.00 price target on the stock. B. Riley decreased their price objective on DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Wells Fargo & Company upped their price objective on DigitalBridge Group from $15.00 to $16.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Finally, Keefe, Bruyette & Woods reduced their target price on DigitalBridge Group from $14.00 to $13.50 and set a “market perform” rating on the stock in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $16.39.

DigitalBridge Group Stock Performance

Shares of DBRG stock opened at $9.42 on Tuesday. DigitalBridge Group has a 52 week low of $8.95 and a 52 week high of $19.49. The stock has a market capitalization of $1.64 billion, a PE ratio of 313.83, a PEG ratio of 3.46 and a beta of 1.91. The stock’s fifty day moving average is $10.59 and its 200-day moving average is $12.30.

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

Institutional Trading of DigitalBridge Group

A number of large investors have recently bought and sold shares of DBRG. Sunbelt Securities Inc. lifted its stake in 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 buying 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 $37,000. Point72 Hong Kong Ltd bought a new stake in DigitalBridge Group in the 4th quarter valued at $39,000. Manchester Capital Management LLC boosted its stake in DigitalBridge Group by 172.1% in the 4th 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. increased its holdings in DigitalBridge Group by 114.0% during the 4th quarter. Meeder Asset Management Inc. now owns 5,087 shares of the company’s stock worth $57,000 after purchasing an additional 2,710 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

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.