DigitalBridge Group (NYSE:DBRG) PT Lowered to $24.00

DigitalBridge Group (NYSE:DBRG) had its target price lowered by stock analysts at Raymond James from $25.00 to $24.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “strong-buy” rating on the stock. Raymond James’ price target suggests a potential upside of 48.33% from the company’s current price.

A number of other brokerages have also recently commented on DBRG. Royal Bank of Canada upped their price target on shares of DigitalBridge Group from $14.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, August 14th. JPMorgan Chase & Co. raised shares of DigitalBridge Group from a “neutral” rating to an “overweight” rating and upped their price target for the company from $19.00 to $25.00 in a research report on Thursday, September 28th. Deutsche Bank Aktiengesellschaft upped their price target on shares of DigitalBridge Group from $18.00 to $19.00 in a research report on Friday, July 14th. Truist Financial cut their price target on shares of DigitalBridge Group from $35.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, September 20th. Finally, TheStreet raised shares of DigitalBridge Group from a “d” rating to a “c-” rating in a research report on Wednesday. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $22.45.

DigitalBridge Group Stock Down 0.2 %

Shares of DigitalBridge Group stock opened at $16.18 on Thursday. DigitalBridge Group has a twelve month low of $9.99 and a twelve month high of $18.43. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of -77.04 and a beta of 2.06. The company’s fifty day moving average is $16.67 and its 200 day moving average is $14.90.

DigitalBridge Group (NYSE:DBRG) last issued its quarterly earnings data on Friday, August 4th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01). DigitalBridge Group had a return on equity of 1.27% and a net margin of 4.50%. The business had revenue of $424.93 million during the quarter, compared to the consensus estimate of $315.48 million. As a group, equities analysts anticipate that DigitalBridge Group will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On DigitalBridge Group

A number of institutional investors and hedge funds have recently made changes to their positions in DBRG. Bank of New York Mellon Corp increased its stake in DigitalBridge Group by 2.1% in the 1st quarter. Bank of New York Mellon Corp now owns 2,715,106 shares of the company’s stock valued at $19,549,000 after buying an additional 54,549 shares during the last quarter. HighTower Advisors LLC increased its stake in DigitalBridge Group by 11.5% in the 1st quarter. HighTower Advisors LLC now owns 224,121 shares of the company’s stock valued at $1,615,000 after buying an additional 23,121 shares during the last quarter. MetLife Investment Management LLC increased its stake in DigitalBridge Group by 48.6% in the 1st quarter. MetLife Investment Management LLC now owns 247,226 shares of the company’s stock valued at $1,780,000 after buying an additional 80,880 shares during the last quarter. Panagora Asset Management Inc. purchased a new stake in DigitalBridge Group in the 1st quarter valued at about $415,000. Finally, Dimensional Fund Advisors LP purchased a new stake in DigitalBridge Group in the 1st quarter valued at about $770,000. Institutional investors and hedge funds own 90.43% of the company’s stock.

About DigitalBridge Group

DigitalBridge (NYSE: DBRG) is a leading global digital infrastructure firm. With a heritage of over 25 years investing in and operating businesses across the digital ecosystem including cell towers, data centers, fiber, small cells, and edge infrastructure, the DigitalBridge team manages a $69 billion portfolio of digital infrastructure assets on behalf of its limited partners and shareholders.