DigitalBridge Group (NYSE:DBRG) Upgraded by Wall Street Zen to Hold Rating

DigitalBridge Group (NYSE:DBRG) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Several other equities research analysts have also commented on DBRG. Keefe, Bruyette & Woods reduced their price target on shares of DigitalBridge Group from $13.50 to $10.50 and set a “market perform” rating for the company in a report on Tuesday, May 6th. Truist Financial boosted their price objective on shares of DigitalBridge Group from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, June 3rd. Finally, JMP Securities reiterated a “market outperform” rating and set a $16.00 price objective on shares of DigitalBridge Group in a research note on Friday, May 16th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $15.94.

DigitalBridge Group Price Performance

DigitalBridge Group stock opened at $10.49 on Friday. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of -262.25, a price-to-earnings-growth ratio of 1.18 and a beta of 1.77. DigitalBridge Group has a 1 year low of $6.41 and a 1 year high of $17.33. The firm has a 50-day moving average of $10.61 and a two-hundred day moving average of $10.03.

Institutional Trading of DigitalBridge Group

Several institutional investors have recently modified their holdings of DBRG. Wells Fargo & Company MN grew its position in shares of DigitalBridge Group by 6.0% in the fourth quarter. Wells Fargo & Company MN now owns 536,965 shares of the company’s stock valued at $6,057,000 after purchasing an additional 30,206 shares during the period. Envestnet Asset Management Inc. grew its position in shares of DigitalBridge Group by 273.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 42,188 shares of the company’s stock valued at $476,000 after purchasing an additional 30,877 shares during the period. Federated Hermes Inc. grew its position in shares of DigitalBridge Group by 198.0% in the fourth quarter. Federated Hermes Inc. now owns 23,841 shares of the company’s stock valued at $269,000 after purchasing an additional 15,841 shares during the period. Cerity Partners LLC lifted its stake in shares of DigitalBridge Group by 133.3% in the fourth quarter. Cerity Partners LLC now owns 46,813 shares of the company’s stock worth $548,000 after buying an additional 26,745 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in shares of DigitalBridge Group by 0.5% in the fourth quarter. Invesco Ltd. now owns 3,313,725 shares of the company’s stock worth $37,379,000 after buying an additional 14,997 shares in the last quarter. 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.