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

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 research note issued on Tuesday, Marketbeat.com reports.

A number of other research analysts also recently commented on the stock. TD Cowen downgraded shares of DigitalBridge Group from a “buy” rating to a “hold” rating and set a $16.00 price objective on the stock. in a research report on Tuesday, December 30th. Citizens Jmp lowered shares of DigitalBridge Group from a “market outperform” rating to a “hold” rating and set a $16.00 target price for the company. in a research note on Monday, December 29th. B. Riley cut shares of DigitalBridge Group from a “buy” rating to a “hold” rating and lowered their price target for the company from $20.00 to $16.00 in a report on Tuesday, December 30th. Royal Bank Of Canada lowered DigitalBridge Group from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $23.00 to $16.00 in a report on Tuesday, December 30th. Finally, Zacks Research upgraded DigitalBridge Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 5th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, DigitalBridge Group currently has an average rating of “Hold” and a consensus target price of $16.00.

DigitalBridge Group Trading Up 0.0%

Shares of DBRG stock opened at $15.39 on Tuesday. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of 256.46 and a beta of 1.69. DigitalBridge Group has a 1-year low of $6.41 and a 1-year high of $15.55. The stock’s fifty day simple moving average is $13.61 and its 200-day simple moving average is $12.18.

DigitalBridge Group (NYSE:DBRG) last announced its quarterly earnings data 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 analysts’ expectations of $96.45 million. During the same period in the prior year, the company posted ($0.01) earnings per share. The firm’s revenue was up 21.6% on a year-over-year basis. On average, sell-side analysts predict that DigitalBridge Group will post 0.17 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in DigitalBridge Group by 28.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 65,745 shares of the company’s stock worth $1,009,000 after purchasing an additional 14,490 shares during the last quarter. CWM LLC raised its position in shares of DigitalBridge Group by 6.1% in the fourth quarter. CWM LLC now owns 33,149 shares of the company’s stock valued at $509,000 after purchasing an additional 1,910 shares during the period. Choreo LLC lifted its stake in shares of DigitalBridge Group by 9.7% in the fourth quarter. Choreo LLC now owns 34,157 shares of the company’s stock worth $522,000 after buying an additional 3,024 shares during the last quarter. Madrona Financial Services LLC acquired a new stake in shares of DigitalBridge Group in the fourth quarter worth $261,000. Finally, Washburn Capital Management Inc. bought a new stake in shares of DigitalBridge Group during the 4th quarter worth $319,000. Institutional investors and hedge funds 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.