DigitalBridge Group (NYSE:DBRG) Price Target Lowered to $19.00 at Truist Financial (2024)

Posted by Defense World Staff on May 19th, 2024

DigitalBridge Group (NYSE:DBRG – Free Report) had its target price lowered by Truist Financial from $22.00 to $19.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Separately, JPMorgan Chase & Co. reduced their price target on DigitalBridge Group from $25.00 to $23.00 and set an overweight rating on the stock in a research report on Wednesday, May 1st. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Buy and a consensus target price of $21.25.

View Our Latest Analysis on DBRG

DigitalBridge Group Trading Down 2.3 %

Shares of DigitalBridge Group stock opened at $13.85 on Wednesday. The firm has a market capitalization of $2.41 billion, a PE ratio of 8.94 and a beta of 1.95. The business’s 50-day moving average price is $17.25 and its 200-day moving average price is $17.62. DigitalBridge Group has a 12 month low of $10.66 and a 12 month high of $20.99.

DigitalBridge Group (NYSE:DBRG – Get Free Report) last announced its quarterly earnings data on Tuesday, February 20th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.06. DigitalBridge Group had a return on equity of 3.14% and a net margin of 26.64%. The firm had revenue of $350.31 million for the quarter, compared to analyst estimates of $287.41 million. As a group, analysts predict that DigitalBridge Group will post 0.25 earnings per share for the current fiscal year.

DigitalBridge Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Sunday, June 30th will be given a $0.01 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.29%. DigitalBridge Group’s dividend payout ratio is currently 2.58%.

Institutional Investors Weigh In On DigitalBridge Group

A number of large investors have recently made changes to their positions in DBRG. Comerica Bank lifted its stake in shares of DigitalBridge Group by 2,778.9% in the 1st quarter. Comerica Bank now owns 154,279 shares of the company’s stock valued at $2,973,000 after purchasing an additional 148,920 shares during the period. Tidal Investments LLC lifted its position in DigitalBridge Group by 377.2% during the 1st quarter. Tidal Investments LLC now owns 58,692 shares of the company’s stock valued at $1,131,000 after acquiring an additional 46,392 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in DigitalBridge Group by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 99,153 shares of the company’s stock worth $1,911,000 after acquiring an additional 5,907 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in DigitalBridge Group in the first quarter worth about $9,661,000. Finally, 1832 Asset Management L.P. grew its holdings in DigitalBridge Group by 4.8% in the first quarter. 1832 Asset Management L.P. now owns 1,047,747 shares of the company’s stock worth $20,190,000 after purchasing an additional 47,747 shares during the period. 92.69% of the stock is currently owned by institutional investors.

DigitalBridge Group Company Profile

(Get Free Report)

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.

Receive News & Ratings for DigitalBridge Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DigitalBridge Group and related companies with MarketBeat.com's FREE daily email newsletter.

You might be interested in:

Organigram PT Lowered to C$4.35

Sangamo Therapeutics’ “Buy” Rating Reaffirmed at HC Wainwright

Palo Alto Networks Rating Reiterated by Morgan Stanley

Alphabet Earns “Overweight” Rating from Morgan Stanley

HC Wainwright Reiterates Buy Rating for Celldex Therapeutics

HC Wainwright Reiterates “Buy” Rating for Daré Bioscience

DigitalBridge Group (NYSE:DBRG) Price Target Lowered to $19.00 at Truist Financial (2024)

FAQs

What is the price target for Truist Financial? ›

Based on analyst ratings, Truist Financial's 12-month average price target is $43.12. What is TFC's upside potential, based on the analysts' average price target? Truist Financial has 7.32% upside potential, based on the analysts' average price target.

View Details ›

Is Digital Bridge a good stock to buy? ›

The highest analyst price target is $20.00 ,the lowest forecast is $18.50. The average price target represents 38.13% Increase from the current price of $14.03. DigitalBridge Group's analyst rating consensus is a Strong Buy.

Learn More Now ›

Is Truist Financial a good bank? ›

Who is Truist best for? Truist is best for customers looking to open a checking account where Truist branches are primarily found. But if you're looking for a high-yield savings account, it's best to look elsewhere, as these Truist accounts will do little to help grow your savings.

Know More ›

Is Truist financially strong? ›

In addition to on balance sheet liquidity, the Company has access to available liquidity of approximately $178 billion as of June 30, 2023. Truist's capitalization remains sound and the Company has strong levels of capital generation. Truist reported a CET1 ratio of 9.6% at June 30, 2023.

Read The Full Story ›

Is DigitalBridge a REIT? ›

Under Ganzi, the REIT changed its name to DigitalBridge and sold off $80 billion worth of hotels, medical offices, and warehouses, replacing them with interests in fiber networks, cell towers, and data centers.

Is DigitalBridge a private equity firm? ›

Founded in 2013, DigitalBridge Group is a private equity investment firm based in Boca Raton, Florida. The firm owns, operates, and invests across the full spectrum of digital infrastructure.

Does Truist have good interest rates? ›

What is the interest rate on a Truist savings account? Truist savings account interest rates can fluctuate, but a typical rate is 0.01%. That rate applies to all balance tiers and is comparable to what you might find at other big banks but lower than what you might find at an online bank.