DigitalBridge Group (NYSE:DBRG) Stock Rating Lowered by Raymond James Financial

DigitalBridge Group (NYSE:DBRG) was downgraded by research analysts at Raymond James Financial from a “strong-buy” rating to an “underperform” rating in a research note issued on Tuesday,Finviz reports.

A number of other analysts have also recently weighed in on DBRG. Weiss Ratings restated a “sell (d+)” rating on shares of DigitalBridge Group in a research note on Wednesday, January 21st. B. Riley downgraded shares of DigitalBridge Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $20.00 to $16.00 in a report on Tuesday, December 30th. Keefe, Bruyette & Woods boosted their target price on shares of DigitalBridge Group from $13.50 to $16.00 and gave the stock a “market perform” rating in a research report on Tuesday, December 30th. Royal Bank Of Canada downgraded DigitalBridge Group from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $23.00 to $16.00 in a research report on Tuesday, December 30th. Finally, TD Cowen lowered DigitalBridge Group from a “buy” rating to a “hold” rating and set a $16.00 price objective on the stock. in a research note on Tuesday, December 30th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.00.

DigitalBridge Group Stock Performance

DBRG opened at $15.41 on Tuesday. The company has a market cap of $2.81 billion, a PE ratio of 256.79 and a beta of 1.69. The stock has a 50-day moving average of $13.37 and a 200-day moving average of $12.12. DigitalBridge Group has a 52-week low of $6.41 and a 52-week high of $15.55.

DigitalBridge Group (NYSE:DBRG) last posted its earnings results on Thursday, October 30th. The company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. The company had revenue of $3.82 million during the quarter, compared to analyst estimates of $96.45 million. The firm’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.01) earnings per share. On average, research analysts predict that DigitalBridge Group will post 0.17 earnings per share for the current year.

Institutional Investors Weigh In On DigitalBridge Group

Hedge funds have recently made changes to their positions in the stock. CWM LLC grew its position in DigitalBridge Group by 2.5% during the third quarter. CWM LLC now owns 31,239 shares of the company’s stock worth $365,000 after buying an additional 755 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of DigitalBridge Group by 4.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 26,468 shares of the company’s stock worth $274,000 after acquiring an additional 1,031 shares during the period. Stoneridge Investment Partners LLC grew its holdings in shares of DigitalBridge Group by 7.9% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 14,153 shares of the company’s stock worth $166,000 after purchasing an additional 1,037 shares in the last quarter. Cetera Trust Company N.A increased its position in shares of DigitalBridge Group by 6.2% during the second quarter. Cetera Trust Company N.A now owns 21,075 shares of the company’s stock valued at $218,000 after purchasing an additional 1,225 shares during the period. Finally, Arizona State Retirement System increased its position in shares of DigitalBridge Group by 2.4% during the third quarter. Arizona State Retirement System now owns 52,115 shares of the company’s stock valued at $610,000 after purchasing an additional 1,244 shares during the period. Institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Company Profile

DigitalBridge Group, Inc (NYSE: DBRG) is a specialized global investment firm focused exclusively on digital infrastructure. The company originates, acquires, and manages a diversified portfolio of businesses that support the digital economy, including data centers, cell towers, small cells, fiber networks, edge infrastructure and related services. DigitalBridge seeks to generate sustainable, long-term returns for its investors by deploying capital into high-growth sectors driven by increasing data consumption, 5G deployment and cloud adoption.

Through its dedicated investment platforms, DigitalBridge provides equity and debt financing solutions to operators and owners of digital infrastructure assets.