JPMorgan Chase & Co. Issues Pessimistic Forecast for DigitalBridge Group (NYSE:DBRG) Stock Price

DigitalBridge Group (NYSE:DBRG) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $20.00 to $18.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 59.79% from the stock’s current price.

A number of other equities analysts have also weighed in on the stock. B. Riley reduced their target price on shares of DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Truist Financial reduced their price objective on DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Raymond James dropped their target price on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, November 5th. Wells Fargo & Company reduced their price target on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Finally, Keefe, Bruyette & Woods downgraded shares of DigitalBridge Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $17.75 to $14.00 in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $16.75.

DigitalBridge Group Stock Performance

Shares of DBRG opened at $11.27 on Tuesday. The firm’s 50 day moving average price is $11.83 and its two-hundred day moving average price is $13.10. DigitalBridge Group has a twelve month low of $10.25 and a twelve month high of $20.99. The firm has a market cap of $1.96 billion, a P/E ratio of 15.43, a PEG ratio of 3.05 and a beta of 1.91.

Hedge Funds Weigh In On DigitalBridge Group

A number of institutional investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its holdings in DigitalBridge Group by 28.1% during the second quarter. Commonwealth Equity Services LLC now owns 20,760 shares of the company’s stock worth $284,000 after purchasing an additional 4,560 shares during the period. Victory Capital Management Inc. lifted its position in shares of DigitalBridge Group by 4.1% in the second quarter. Victory Capital Management Inc. now owns 22,165 shares of the company’s stock valued at $304,000 after buying an additional 870 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of DigitalBridge Group by 65.9% during the 2nd quarter. American Century Companies Inc. now owns 79,368 shares of the company’s stock worth $1,087,000 after acquiring an additional 31,530 shares during the period. Federated Hermes Inc. increased its holdings in shares of DigitalBridge Group by 944.8% during the 2nd quarter. Federated Hermes Inc. now owns 10,166 shares of the company’s stock worth $139,000 after acquiring an additional 9,193 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in DigitalBridge Group by 54.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,686,145 shares of the company’s stock valued at $36,797,000 after acquiring an additional 952,408 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

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.