DigitalBridge Group (NYSE:DBRG) Earns Buy Rating from Analysts at Truist Financial

Truist Financial began coverage on shares of DigitalBridge Group (NYSE:DBRG) in a research note released on Tuesday, Marketbeat.com reports. The firm issued a buy rating and a $16.00 price objective on the stock.

A number of other brokerages also recently weighed in on DBRG. Citizens Jmp downgraded shares of DigitalBridge Group from a “market outperform” rating to a “hold” rating and set a $16.00 price target on the stock. in a report on Monday, December 29th. Keefe, Bruyette & Woods raised their price objective on shares of DigitalBridge Group from $13.50 to $16.00 and gave the stock a “market perform” rating in a report on Tuesday, December 30th. Raymond James Financial lowered shares of DigitalBridge Group from a “strong-buy” rating to an “underperform” rating in a research report on Tuesday, January 27th. TD Cowen cut shares of DigitalBridge Group from a “buy” rating to a “hold” rating and set a $16.00 target price on the stock. in a research note on Tuesday, December 30th. Finally, Weiss Ratings upgraded shares of DigitalBridge Group from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, March 2nd. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $16.00.

DigitalBridge Group Price Performance

Shares of NYSE:DBRG opened at $15.44 on Tuesday. The company has a market capitalization of $2.82 billion, a PE ratio of 34.30 and a beta of 1.61. The business has a fifty day moving average price of $15.41 and a two-hundred day moving average price of $13.56. DigitalBridge Group has a 1 year low of $6.41 and a 1 year high of $15.55.

DigitalBridge Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.04 annualized dividend and a yield of 0.3%. DigitalBridge Group’s dividend payout ratio (DPR) is 8.89%.

Institutional Investors Weigh In On DigitalBridge Group

Several institutional investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC raised its position in shares of DigitalBridge Group by 305.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,760 shares of the company’s stock valued at $27,000 after purchasing an additional 1,326 shares during the period. Atlantic Union Bankshares Corp bought a new position in DigitalBridge Group in the 4th quarter worth approximately $31,000. Beaird Harris Wealth Management LLC bought a new position in DigitalBridge Group in the 4th quarter worth approximately $31,000. Quarry LP grew its stake in DigitalBridge Group by 1,467.2% in the 4th quarter. Quarry LP now owns 2,053 shares of the company’s stock valued at $31,000 after buying an additional 1,922 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in DigitalBridge Group in the 4th quarter valued at approximately $43,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

About DigitalBridge Group

DigitalBridge Group, Inc (NYSE: DBRG) is a specialized global investment firm focused exclusively on digital infrastructure. The company originates, acquires, and manages a diversified portfolio of businesses that support the digital economy, including data centers, cell towers, small cells, fiber networks, edge infrastructure and related services. DigitalBridge seeks to generate sustainable, long-term returns for its investors by deploying capital into high-growth sectors driven by increasing data consumption, 5G deployment and cloud adoption.

Through its dedicated investment platforms, DigitalBridge provides equity and debt financing solutions to operators and owners of digital infrastructure assets.