Truist Financial Corp Makes New $476,000 Investment in DigitalBridge Group, Inc. (NYSE:DBRG)

Truist Financial Corp acquired a new stake in DigitalBridge Group, Inc. (NYSE:DBRG) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 34,730 shares of the company’s stock, valued at approximately $476,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of DBRG. Massachusetts Financial Services Co. MA purchased a new position in shares of DigitalBridge Group in the second quarter valued at $39,033,000. New South Capital Management Inc. increased its holdings in shares of DigitalBridge Group by 40.1% in the 2nd quarter. New South Capital Management Inc. now owns 3,929,762 shares of the company’s stock worth $53,838,000 after acquiring an additional 1,125,549 shares during the period. Wafra Inc. increased its holdings in shares of DigitalBridge Group by 7.1% in the 2nd quarter. Wafra Inc. now owns 15,455,808 shares of the company’s stock worth $211,745,000 after acquiring an additional 1,020,409 shares during the period. Dimensional Fund Advisors LP grew its position in DigitalBridge Group by 54.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,686,145 shares of the company’s stock valued at $36,797,000 after buying an additional 952,408 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in DigitalBridge Group by 125.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,629,197 shares of the company’s stock valued at $22,320,000 after buying an additional 906,297 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

DBRG has been the subject of several research reports. B. Riley reduced their price objective on shares of DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Truist Financial cut their price objective on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Raymond James cut their price objective on shares of DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating on the stock in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. raised their price objective on shares of DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Seven 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 MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $19.22.

DigitalBridge Group Stock Performance

Shares of NYSE DBRG opened at $15.60 on Thursday. DigitalBridge Group, Inc. has a 52 week low of $11.07 and a 52 week high of $20.99. The stock has a market capitalization of $2.71 billion, a P/E ratio of 10.06, a PEG ratio of 2.63 and a beta of 1.95. The stock’s fifty day moving average is $13.45 and its 200 day moving average is $14.19.

DigitalBridge Group (NYSE:DBRG) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). The firm had revenue of $390.34 million for the quarter, compared to the consensus estimate of $97.05 million. DigitalBridge Group had a return on equity of 4.49% and a net margin of 35.10%. Equities research analysts forecast that DigitalBridge Group, Inc. will post 0.16 earnings per share for the current year.

DigitalBridge Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.26%. The ex-dividend date was Monday, September 30th. DigitalBridge Group’s dividend payout ratio (DPR) is presently 2.58%.

DigitalBridge Group Profile

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.