DigitalBridge Group (NYSE:DBRG) Given New $20.00 Price Target at B. Riley

DigitalBridge Group (NYSE:DBRG) had its price objective cut by investment analysts at B. Riley from $24.00 to $20.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley’s price objective indicates a potential upside of 75.90% from the company’s current price.

Other analysts have also issued reports about the company. Raymond James reduced their target price on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a report on Tuesday, November 5th. Truist Financial reduced their price objective on DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Keefe, Bruyette & Woods lowered DigitalBridge Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $17.75 to $14.00 in a research note on Wednesday, November 6th. Wells Fargo & Company reduced their price objective on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. raised their price objective on DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $17.38.

DigitalBridge Group Price Performance

DBRG stock opened at $11.37 on Tuesday. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 13.76 and a beta of 1.91. DigitalBridge Group has a fifty-two week low of $10.55 and a fifty-two week high of $20.99. The business’s fifty day moving average price is $12.40 and its two-hundred day moving average price is $13.27.

Institutional Investors Weigh In On DigitalBridge Group

A number of hedge funds have recently added to or reduced their stakes in DBRG. Massachusetts Financial Services Co. MA acquired a new stake in DigitalBridge Group in the second quarter valued at approximately $39,033,000. Potrero Capital Research LLC acquired a new stake in DigitalBridge Group in the third quarter valued at approximately $20,201,000. Dimensional Fund Advisors LP grew its stake in DigitalBridge Group by 54.9% in the second 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. Point72 Asset Management L.P. grew its stake in DigitalBridge Group by 125.4% in the second quarter. Point72 Asset Management L.P. now owns 1,629,197 shares of the company’s stock valued at $22,320,000 after acquiring an additional 906,297 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of DigitalBridge Group during the third quarter valued at approximately $9,757,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

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.