DigitalBridge Group (NYSE:DBRG) Cut to Underperform at Raymond James Financial

Raymond James Financial lowered shares of DigitalBridge Group (NYSE:DBRG) from a strong-buy rating to an underperform rating in a research report sent to investors on Tuesday, MarketBeat Ratings reports.

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

DigitalBridge Group Stock Performance

DigitalBridge Group stock opened at $15.45 on Tuesday. The firm’s 50-day moving average is $13.74 and its 200-day moving average is $12.20. DigitalBridge Group has a 1 year low of $6.41 and a 1 year high of $15.55. The company has a market cap of $2.82 billion, a P/E ratio of 257.46 and a beta of 1.69.

DigitalBridge Group (NYSE:DBRG) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.09. The business had revenue of $3.82 million for the quarter, compared to the consensus estimate of $96.45 million. During the same period in the prior year, the company earned ($0.01) EPS. DigitalBridge Group’s quarterly revenue was up 21.6% on a year-over-year basis. As a group, sell-side analysts predict that DigitalBridge Group will post 0.17 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DBRG. Norges Bank acquired a new stake in DigitalBridge Group in the second quarter worth approximately $1,868,000. Azora Capital LP bought a new stake in shares of DigitalBridge Group in the 2nd quarter worth $23,579,000. Sarasin & Partners LLP acquired a new stake in shares of DigitalBridge Group in the third quarter valued at $1,886,000. Nordea Investment Management AB lifted its holdings in shares of DigitalBridge Group by 24.1% in the third quarter. Nordea Investment Management AB now owns 332,414 shares of the company’s stock valued at $3,849,000 after buying an additional 64,474 shares during the period. Finally, DAVENPORT & Co LLC boosted its stake in DigitalBridge Group by 15.4% during the third quarter. DAVENPORT & Co LLC now owns 1,500,110 shares of the company’s stock valued at $17,701,000 after buying an additional 200,110 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

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.