DigitalBridge Group (NYSE:DBRG) PT Raised to $22.00 at Truist Financial

DigitalBridge Group (NYSE:DBRG) had its price objective upped by research analysts at Truist Financial from $20.00 to $22.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target would suggest a potential upside of 25.50% from the company’s current price.

DigitalBridge Group Stock Performance

Shares of DigitalBridge Group stock opened at $17.53 on Tuesday. The firm has a market cap of $2.87 billion, a PE ratio of 35.78 and a beta of 1.91. DigitalBridge Group has a 1 year low of $10.20 and a 1 year high of $20.99. The firm’s 50-day simple moving average is $18.75 and its 200-day simple moving average is $17.71.

DigitalBridge Group (NYSE:DBRG) last issued its earnings results on Tuesday, February 20th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.06. The company had revenue of $350.31 million during the quarter, compared to analyst estimates of $287.41 million. DigitalBridge Group had a return on equity of 2.39% and a net margin of 12.33%. On average, equities analysts predict that DigitalBridge Group will post -0.14 earnings per share for the current year.

Institutional Investors Weigh In On DigitalBridge Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its holdings in shares of DigitalBridge Group by 28.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 18,874,133 shares of the company’s stock valued at $92,106,000 after purchasing an additional 4,176,103 shares during the last quarter. State Street Corp boosted its position in DigitalBridge Group by 18.6% during the 1st quarter. State Street Corp now owns 20,337,683 shares of the company’s stock valued at $146,431,000 after purchasing an additional 3,184,920 shares during the period. Wellington Management Group LLP bought a new position in DigitalBridge Group during the 3rd quarter worth $47,948,000. Renaissance Technologies LLC acquired a new stake in DigitalBridge Group in the second quarter worth $11,767,000. Finally, Balyasny Asset Management L.P. acquired a new stake in DigitalBridge Group in the fourth quarter worth $34,127,000. 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.