JPMorgan Chase & Co. Lowers DigitalBridge Group (NYSE:DBRG) Price Target to $23.00

DigitalBridge Group (NYSE:DBRG) had its price target dropped by analysts at JPMorgan Chase & Co. from $25.00 to $23.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 66.18% from the company’s current price.

Separately, Truist Financial boosted their target price on shares of DigitalBridge Group from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $21.75.

DigitalBridge Group Stock Performance

Shares of DBRG stock traded down $2.60 during trading hours on Wednesday, hitting $13.84. 3,583,973 shares of the company were exchanged, compared to its average volume of 2,152,184. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 28.41 and a beta of 1.91. DigitalBridge Group has a one year low of $10.20 and a one year high of $20.99. The business’s 50-day simple moving average is $18.25 and its two-hundred day simple moving average is $17.76.

DigitalBridge Group (NYSE:DBRG) last released its earnings results on Tuesday, February 20th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.06. The company had revenue of $350.31 million for the quarter, compared to the consensus estimate of $287.41 million. DigitalBridge Group had a return on equity of 2.39% and a net margin of 12.33%. As a group, analysts anticipate that DigitalBridge Group will post 0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On DigitalBridge Group

Several hedge funds and other institutional investors have recently modified their holdings of DBRG. Pacer Advisors Inc. bought a new position in shares of DigitalBridge Group in the fourth quarter worth $19,351,000. Vanguard Group Inc. lifted its position in DigitalBridge Group by 0.4% in the third quarter. Vanguard Group Inc. now owns 23,377,984 shares of the company’s stock worth $410,985,000 after purchasing an additional 83,381 shares during the period. Raymond James & Associates boosted its stake in DigitalBridge Group by 311.5% during the 4th quarter. Raymond James & Associates now owns 469,647 shares of the company’s stock valued at $8,238,000 after purchasing an additional 355,524 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of DigitalBridge Group during the 3rd quarter valued at $47,948,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of DigitalBridge Group by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,515,517 shares of the company’s stock worth $26,643,000 after buying an additional 33,936 shares in the last quarter. Institutional investors and hedge funds 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.