DigitalBridge Group (NYSE:DBRG) Price Target Raised to $23.00

DigitalBridge Group (NYSE:DBRG) had its price objective upped by stock analysts at JPMorgan Chase & Co. from $22.00 to $23.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 66.18% from the company’s current price.

A number of other brokerages also recently weighed in on DBRG. B. Riley lowered their price target on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft lowered their price target on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Truist Financial lowered their price target on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $19.00 price target on shares of DigitalBridge Group in a report on Wednesday, July 3rd. Finally, Wells Fargo & Company lowered their price target on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, DigitalBridge Group currently has a consensus rating of “Buy” and an average price target of $19.22.

DigitalBridge Group Trading Down 2.1 %

Shares of NYSE DBRG traded down $0.29 during mid-day trading on Tuesday, reaching $13.84. The company had a trading volume of 895,300 shares, compared to its average volume of 2,245,036. The stock has a market cap of $2.41 billion, a PE ratio of 8.91, a P/E/G ratio of 2.59 and a beta of 1.96. The company has a 50-day moving average price of $13.12 and a two-hundred day moving average price of $14.48. DigitalBridge Group has a 1-year low of $11.07 and a 1-year high of $20.99.

DigitalBridge Group (NYSE:DBRG) last issued its earnings results on Wednesday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). DigitalBridge Group had a return on equity of 4.49% and a net margin of 35.10%. The company had revenue of $390.34 million during the quarter, compared to analyst estimates of $97.05 million. On average, research analysts expect that DigitalBridge Group will post 0.16 EPS for the current year.

Institutional Trading of DigitalBridge Group

A number of institutional investors and hedge funds have recently made changes to their positions in DBRG. Dimensional Fund Advisors LP lifted its position in shares of DigitalBridge Group by 260.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,302,941 shares of the company’s stock worth $22,854,000 after buying an additional 941,662 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of DigitalBridge Group by 555.4% in the fourth quarter. Franklin Resources Inc. now owns 92,896 shares of the company’s stock worth $1,629,000 after buying an additional 78,723 shares during the last quarter. TD Asset Management Inc lifted its position in shares of DigitalBridge Group by 35.3% in the fourth quarter. TD Asset Management Inc now owns 94,268 shares of the company’s stock worth $1,653,000 after buying an additional 24,600 shares during the last quarter. Capstone Investment Advisors LLC acquired a new stake in shares of DigitalBridge Group in the fourth quarter worth about $220,000. Finally, CIBC Private Wealth Group LLC lifted its position in shares of DigitalBridge Group by 5.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 47,763 shares of the company’s stock worth $838,000 after buying an additional 2,645 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

DigitalBridge Group Company 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.