DigitalBridge Group (NYSE:DBRG) Rating Reiterated by Royal Bank of Canada

DigitalBridge Group (NYSE:DBRG)‘s stock had its “outperform” rating reissued by analysts at Royal Bank of Canada in a research report issued on Wednesday, Benzinga reports. They presently have a $19.00 target price on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 42.11% from the stock’s previous close.

A number of other research analysts have also recently commented on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $17.00 price target (down previously from $21.00) on shares of DigitalBridge Group in a research note on Tuesday, June 18th. Keefe, Bruyette & Woods cut their target price on DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating for the company in a research report on Tuesday, June 18th. JPMorgan Chase & Co. lowered their price target on DigitalBridge Group from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Finally, Truist Financial cut their price objective on DigitalBridge Group from $22.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, DigitalBridge Group currently has an average rating of “Buy” and an average price target of $19.96.

DigitalBridge Group Trading Up 1.2 %

DBRG opened at $13.37 on Wednesday. The stock’s 50 day simple moving average is $13.69 and its 200-day simple moving average is $16.82. The stock has a market cap of $2.32 billion, a PE ratio of 8.63, a P/E/G ratio of 1.46 and a beta of 2.00. DigitalBridge Group has a 1 year low of $12.12 and a 1 year high of $20.99.

DigitalBridge Group (NYSE:DBRG) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). DigitalBridge Group had a return on equity of 3.14% and a net margin of 26.64%. The business had revenue of $74.39 million for the quarter, compared to analyst estimates of $100.76 million. Equities analysts forecast that DigitalBridge Group will post 0.25 earnings per share for the current fiscal year.

Institutional Trading of DigitalBridge Group

A number of hedge funds and other institutional investors have recently made changes to their positions in DBRG. Wellington Management Group LLP acquired a new position in DigitalBridge Group during the 3rd quarter worth about $47,948,000. Norges Bank bought a new stake in shares of DigitalBridge Group during the fourth quarter valued at approximately $31,651,000. Pacer Advisors Inc. acquired a new stake in shares of DigitalBridge Group in the fourth quarter valued at approximately $19,351,000. Dimensional Fund Advisors LP raised its position in DigitalBridge Group by 260.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,302,941 shares of the company’s stock worth $22,854,000 after purchasing an additional 941,662 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in DigitalBridge Group during the 1st quarter worth $9,661,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

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.