B. Riley Trims DigitalBridge Group (NYSE:DBRG) Target Price to $24.00

DigitalBridge Group (NYSE:DBRG) had its price target dropped by research analysts at B. Riley from $27.00 to $24.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s price target points to a potential upside of 78.84% from the stock’s current price.

A number of other analysts also recently issued reports on DBRG. Royal Bank of Canada restated an “outperform” rating and issued a $19.00 price target on shares of DigitalBridge Group in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. lowered their price target on DigitalBridge Group from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Keefe, Bruyette & Woods lowered their price target 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. Truist Financial lowered their price target on DigitalBridge Group from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $17.00 price target (down from $21.00) on shares of DigitalBridge Group in a research report on Tuesday, June 18th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $20.54.

DigitalBridge Group Stock Performance

NYSE DBRG opened at $13.42 on Tuesday. The company has a market capitalization of $2.33 billion, a P/E ratio of 8.66, a P/E/G ratio of 1.45 and a beta of 2.00. DigitalBridge Group has a one year low of $12.12 and a one year high of $20.99. The stock has a 50 day moving average price of $13.47 and a 200-day moving average price of $16.72.

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

Hedge Funds Weigh In On DigitalBridge Group

Institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP purchased a new stake in DigitalBridge Group in the third quarter worth about $47,948,000. Norges Bank bought a new stake in shares of DigitalBridge Group in the 4th quarter valued at about $31,651,000. Pacer Advisors Inc. purchased a new stake in shares of DigitalBridge Group in the 4th quarter worth approximately $19,351,000. Dimensional Fund Advisors LP lifted its position in shares of 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 period. Finally, Lazard Asset Management LLC bought a new position in shares of DigitalBridge Group during the first quarter valued at approximately $9,661,000. Hedge funds and other 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.