DigitalBridge Group (NYSE:DBRG) Given New $13.00 Price Target at Truist Financial

DigitalBridge Group (NYSE:DBRG) had its price target cut by equities research analysts at Truist Financial from $15.00 to $13.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target suggests a potential upside of 38.81% from the stock’s current price.

Several other research analysts have also commented on DBRG. B. Riley dropped their price objective on shares of DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods dropped their price target 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. JMP Securities assumed coverage on shares of DigitalBridge Group in a research note on Monday, January 27th. They issued an “outperform” rating and a $16.00 price objective for the company. Citizens Jmp raised DigitalBridge Group to a “strong-buy” rating in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. dropped their price objective on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, DigitalBridge Group presently has an average rating of “Buy” and an average price target of $16.39.

DigitalBridge Group Trading Up 1.1 %

Shares of NYSE:DBRG opened at $9.37 on Tuesday. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 312.17, a PEG ratio of 3.46 and a beta of 1.91. DigitalBridge Group has a 12 month low of $8.95 and a 12 month high of $19.49. The company has a 50-day moving average price of $10.54 and a 200 day moving average price of $12.26.

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

Institutional Investors Weigh In On DigitalBridge Group

Several hedge funds have recently made changes to their positions in the company. Covestor Ltd raised its holdings in shares of DigitalBridge Group by 9.8% in the fourth quarter. Covestor Ltd now owns 11,752 shares of the company’s stock valued at $133,000 after acquiring an additional 1,049 shares in the last quarter. Summit Investment Advisors Inc. increased its position in DigitalBridge Group by 6.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 16,631 shares of the company’s stock valued at $188,000 after purchasing an additional 1,056 shares during the period. Xponance Inc. raised its holdings in shares of DigitalBridge Group by 12.7% in the 4th quarter. Xponance Inc. now owns 11,725 shares of the company’s stock valued at $132,000 after purchasing an additional 1,321 shares in the last quarter. Sunbelt Securities Inc. lifted its position in shares of DigitalBridge Group by 109.9% in the 4th quarter. Sunbelt Securities Inc. now owns 2,796 shares of the company’s stock worth $31,000 after purchasing an additional 1,464 shares during the period. Finally, Stoneridge Investment Partners LLC boosted its stake in shares of DigitalBridge Group by 22.5% during the fourth quarter. Stoneridge Investment Partners LLC now owns 13,116 shares of the company’s stock valued at $148,000 after purchasing an additional 2,408 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other 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.