DigitalBridge Group (NYSE:DBRG) Upgraded to “Hold” at Truist Financial

Truist Financial upgraded shares of DigitalBridge Group (NYSE:DBRG) to a hold rating in a report released on Monday morning,Zacks.com reports.

Other equities analysts have also issued reports about the company. TD Cowen lowered DigitalBridge Group from a “buy” rating to a “hold” rating and set a $16.00 price objective on the stock. in a research report on Tuesday, December 30th. Keefe, Bruyette & Woods upped their target price on DigitalBridge Group from $13.50 to $16.00 and gave the stock a “market perform” rating in a research note on Tuesday, December 30th. Raymond James Financial cut shares of DigitalBridge Group from a “strong-buy” rating to an “underperform” rating in a research report on Tuesday, January 27th. Citizens Jmp cut shares of DigitalBridge Group from a “market outperform” rating to a “hold” rating and set a $16.00 price objective for the company. in a research note on Monday, December 29th. Finally, B. Riley Financial cut shares of DigitalBridge Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $20.00 to $16.00 in a research report on Tuesday, December 30th. Eight equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, DigitalBridge Group currently has an average rating of “Reduce” and an average target price of $16.00.

DigitalBridge Group Stock Performance

Shares of NYSE:DBRG opened at $15.43 on Monday. The firm has a market capitalization of $2.82 billion, a PE ratio of 34.28 and a beta of 1.67. DigitalBridge Group has a 52-week low of $6.41 and a 52-week high of $15.55. The firm has a fifty day moving average of $15.40 and a 200 day moving average of $13.53.

DigitalBridge Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Tuesday, March 31st. DigitalBridge Group’s dividend payout ratio is 8.89%.

Institutional Investors Weigh In On DigitalBridge Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC grew its holdings in DigitalBridge Group by 2.5% in the 3rd quarter. CWM LLC now owns 31,239 shares of the company’s stock worth $365,000 after acquiring an additional 755 shares during the last quarter. Stoneridge Investment Partners LLC raised its position in DigitalBridge Group by 7.9% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 14,153 shares of the company’s stock valued at $166,000 after purchasing an additional 1,037 shares during the last quarter. Handelsbanken Fonder AB raised its position in DigitalBridge Group by 3.0% during the 4th quarter. Handelsbanken Fonder AB now owns 37,500 shares of the company’s stock valued at $575,000 after purchasing an additional 1,100 shares during the last quarter. Cetera Investment Advisers lifted its holdings in DigitalBridge Group by 4.4% in the 4th quarter. Cetera Investment Advisers now owns 28,921 shares of the company’s stock worth $444,000 after buying an additional 1,214 shares during the period. Finally, Arizona State Retirement System lifted its holdings in DigitalBridge Group by 2.4% in the 3rd quarter. Arizona State Retirement System now owns 52,115 shares of the company’s stock worth $610,000 after buying an additional 1,244 shares during the period. 92.69% of the stock is currently owned by 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.