DigitalBridge Group (NYSE:DBRG) Downgraded to Underperform Rating by Raymond James Financial

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

A number of other equities analysts have also recently issued reports on DBRG. Royal Bank Of Canada cut DigitalBridge Group from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $23.00 to $16.00 in a report on Tuesday, December 30th. Zacks Research raised DigitalBridge Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 5th. TD Cowen lowered DigitalBridge Group from a “buy” rating to a “hold” rating and set a $16.00 price objective for the company. in a research note on Tuesday, December 30th. Keefe, Bruyette & Woods lifted their price objective on DigitalBridge Group from $13.50 to $16.00 and gave the company a “market perform” rating in a report on Tuesday, December 30th. Finally, B. Riley downgraded shares of DigitalBridge Group from a “buy” rating to a “hold” rating and reduced their target price for the company from $20.00 to $16.00 in a research note on Tuesday, December 30th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $16.00.

DigitalBridge Group Stock Performance

NYSE:DBRG opened at $15.41 on Tuesday. The company 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. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of 256.79 and a beta of 1.69.

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

Institutional Trading of DigitalBridge Group

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of DigitalBridge Group by 0.9% in the third quarter. Vanguard Group Inc. now owns 17,235,457 shares of the company’s stock valued at $201,655,000 after buying an additional 158,479 shares during the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of DigitalBridge Group by 29.8% in the second quarter. Frontier Capital Management Co. LLC now owns 5,669,342 shares of the company’s stock worth $58,678,000 after acquiring an additional 1,302,150 shares during the last quarter. Portolan Capital Management LLC raised its stake in shares of DigitalBridge Group by 77.4% in the third quarter. Portolan Capital Management LLC now owns 5,468,226 shares of the company’s stock worth $63,978,000 after acquiring an additional 2,386,066 shares during the last quarter. Invesco Ltd. lifted its position in shares of DigitalBridge Group by 5.5% during the third quarter. Invesco Ltd. now owns 4,049,310 shares of the company’s stock worth $47,377,000 after purchasing an additional 212,361 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of DigitalBridge Group by 5.5% during the second quarter. Geode Capital Management LLC now owns 3,908,311 shares of the company’s stock valued at $40,456,000 after purchasing an additional 204,770 shares during the last quarter. 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.