Raymond James Has Lowered Expectations for DigitalBridge Group (NYSE:DBRG) Stock Price

DigitalBridge Group (NYSE:DBRG) had its price target decreased by Raymond James from $19.00 to $16.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “strong-buy” rating on the stock. Raymond James’ target price would indicate a potential upside of 29.14% from the stock’s previous close.

A number of other brokerages have also recently weighed in on DBRG. JPMorgan Chase & Co. lifted their price target on shares of DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. B. Riley lowered their price target on shares of DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Truist Financial lowered 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 note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Finally, Wells Fargo & Company lowered their price objective on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday. Seven research 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.com, the stock has a consensus rating of “Buy” and a consensus target price of $18.59.

DigitalBridge Group Trading Down 1.4 %

Shares of DBRG traded down $0.18 during mid-day trading on Tuesday, hitting $12.39. 1,222,025 shares of the company traded hands, compared to its average volume of 2,321,211. DigitalBridge Group has a one year low of $11.07 and a one year high of $20.99. The business has a 50-day moving average of $14.32 and a 200 day moving average of $13.92. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 2.36 and a beta of 1.94.

DigitalBridge Group (NYSE:DBRG) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). DigitalBridge Group had a net margin of 21.42% and a return on equity of 3.59%. The company had revenue of $390.34 million for the quarter, compared to the consensus estimate of $97.05 million. As a group, analysts anticipate that DigitalBridge Group will post 0.16 earnings per share for the current year.

Institutional Trading of DigitalBridge Group

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