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

DigitalBridge Group (NYSE:DBRG) had its target price raised by JPMorgan Chase & Co. from $22.00 to $23.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 66.18% from the company’s previous close.

Several other equities analysts have also recently weighed in on DBRG. Raymond James cut their price objective on DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating for the company in a research report on Thursday, August 8th. Royal Bank of Canada restated an “outperform” rating and set a $19.00 price target on shares of DigitalBridge Group in a research note on Wednesday, July 3rd. 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 research note on Tuesday, August 6th. 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 research note on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods lowered their price target on DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating on the stock in a research note on Tuesday, June 18th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, DigitalBridge Group currently has an average rating of “Buy” and an average target price of $19.22.

DigitalBridge Group Price Performance

Shares of NYSE DBRG traded down $0.29 during trading hours on Tuesday, hitting $13.84. 895,300 shares of the company’s stock were exchanged, compared to its average volume of 2,245,036. DigitalBridge Group has a 1-year low of $11.07 and a 1-year high of $20.99. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 8.91, a PEG ratio of 2.59 and a beta of 1.96. The company’s 50-day moving average price is $13.12 and its 200-day moving average price is $14.48.

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

Institutional Investors Weigh In On DigitalBridge Group

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of DigitalBridge Group by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 23,274,328 shares of the company’s stock worth $448,496,000 after acquiring an additional 256,016 shares in the last quarter. Wafra Inc. boosted its holdings in shares of DigitalBridge Group by 7.1% in the 2nd quarter. Wafra Inc. now owns 15,455,808 shares of the company’s stock worth $211,745,000 after acquiring an additional 1,020,409 shares in the last quarter. New South Capital Management Inc. boosted its holdings in shares of DigitalBridge Group by 40.1% in the 2nd quarter. New South Capital Management Inc. now owns 3,929,762 shares of the company’s stock worth $53,838,000 after acquiring an additional 1,125,549 shares in the last quarter. Frontier Capital Management Co. LLC lifted its holdings in DigitalBridge Group by 10.4% during the 4th quarter. Frontier Capital Management Co. LLC now owns 3,550,341 shares of the company’s stock worth $62,273,000 after buying an additional 334,381 shares in the last quarter. Finally, Legion Partners Asset Management LLC lifted its holdings in DigitalBridge Group by 3.3% during the 2nd quarter. Legion Partners Asset Management LLC now owns 3,453,253 shares of the company’s stock worth $47,310,000 after buying an additional 111,243 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

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.