DigitalBridge Group (NYSE:DBRG) Stock Rating Reaffirmed by Royal Bank of Canada

DigitalBridge Group (NYSE:DBRG)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank of Canada in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $19.00 price objective on the stock. Royal Bank of Canada’s target price suggests a potential upside of 41.79% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Keefe, Bruyette & Woods reduced their price target on shares of DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating for the company in a research report on Tuesday, June 18th. JPMorgan Chase & Co. decreased their price target on shares of DigitalBridge Group from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Truist Financial reduced their price objective on DigitalBridge Group from $22.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $17.00 target price (down from $21.00) on shares of DigitalBridge Group in a research note on Tuesday, June 18th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, DigitalBridge Group presently has an average rating of “Buy” and a consensus target price of $19.96.

DigitalBridge Group Stock Performance

NYSE:DBRG traded up $0.19 on Wednesday, hitting $13.40. The stock had a trading volume of 27,194 shares, compared to its average volume of 2,235,374. DigitalBridge Group has a 1 year low of $12.12 and a 1 year high of $20.99. The firm’s fifty day simple moving average is $13.84 and its two-hundred day simple moving average is $16.87. The stock has a market cap of $2.33 billion, a P/E ratio of 8.54, a price-to-earnings-growth ratio of 1.51 and a beta of 2.00.

DigitalBridge Group (NYSE:DBRG) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). DigitalBridge Group had a net margin of 26.64% and a return on equity of 3.14%. The business had revenue of $74.39 million for the quarter, compared to analysts’ expectations of $100.76 million. Equities research analysts predict that DigitalBridge Group will post 0.25 EPS for the current year.

Institutional Investors Weigh In On DigitalBridge Group

Several hedge funds and other institutional investors have recently modified their holdings of DBRG. Quarry LP bought a new stake in DigitalBridge Group during the fourth quarter valued at $41,000. CWM LLC grew its holdings in shares of DigitalBridge Group by 59.9% during the fourth quarter. CWM LLC now owns 8,371 shares of the company’s stock worth $147,000 after purchasing an additional 3,135 shares in the last quarter. Bfsg LLC bought a new position in shares of DigitalBridge Group in the fourth quarter worth approximately $171,000. New York State Teachers Retirement System purchased a new stake in DigitalBridge Group in the fourth quarter valued at approximately $175,000. Finally, Kingswood Wealth Advisors LLC bought a new position in shares of DigitalBridge Group in the 1st quarter worth $216,000. 92.69% of the stock is currently owned by institutional investors.

About DigitalBridge Group

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.