DigitalBridge Group (NYSE:DBRG) Cut to “Market Perform” at Keefe, Bruyette & Woods

DigitalBridge Group (NYSE:DBRG) was downgraded by stock analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research report issued on Wednesday, FinViz reports. They currently have a $14.00 price objective on the stock, down from their previous price objective of $17.75. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 11.11% from the stock’s previous close.

Other analysts also recently issued research reports about the company. JPMorgan Chase & Co. boosted their target price on DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Truist Financial cut their price objective on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. B. Riley decreased their target price on shares of DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Wells Fargo & Company cut their price target on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Raymond James decreased their price objective on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a report on Tuesday. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $18.13.

DigitalBridge Group Stock Performance

NYSE DBRG opened at $12.60 on Wednesday. DigitalBridge Group has a 52-week low of $11.07 and a 52-week high of $20.99. The company has a fifty day moving average of $14.32 and a 200-day moving average of $13.92. The company has a market capitalization of $2.19 billion, a P/E ratio of 17.26, a P/E/G ratio of 2.36 and a beta of 1.94.

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

Institutional Trading of DigitalBridge Group

Large investors have recently modified their holdings of the business. Victory Capital Management Inc. grew its position in shares of DigitalBridge Group by 4.1% in the 2nd quarter. Victory Capital Management Inc. now owns 22,165 shares of the company’s stock worth $304,000 after buying an additional 870 shares during the last quarter. Arizona State Retirement System boosted its holdings in DigitalBridge Group by 1.9% in the second quarter. Arizona State Retirement System now owns 45,735 shares of the company’s stock valued at $627,000 after acquiring an additional 872 shares in the last quarter. Fulton Bank N.A. boosted its holdings in DigitalBridge Group by 3.2% in the third quarter. Fulton Bank N.A. now owns 28,372 shares of the company’s stock valued at $401,000 after acquiring an additional 878 shares in the last quarter. King Luther Capital Management Corp boosted its holdings in DigitalBridge Group by 1.3% in the second quarter. King Luther Capital Management Corp now owns 71,038 shares of the company’s stock valued at $973,000 after acquiring an additional 942 shares in the last quarter. Finally, nVerses Capital LLC increased its position in DigitalBridge Group by 633.3% during the 2nd quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock valued at $30,000 after purchasing an additional 1,900 shares during the period. 92.69% of the stock is owned by institutional investors.

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.