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

DigitalBridge Group (NYSE:DBRG) had its price target decreased by research analysts 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 objective indicates a potential upside of 56.90% from the stock’s current price.

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

DigitalBridge Group Price Performance

DBRG stock opened at $11.47 on Tuesday. The firm has a market cap of $2.00 billion, a PE ratio of 15.72, a P/E/G ratio of 3.05 and a beta of 1.91. DigitalBridge Group has a 12 month low of $10.25 and a 12 month high of $20.99. The firm has a 50 day simple moving average of $11.80 and a 200 day simple moving average of $13.08.

Hedge Funds Weigh In On DigitalBridge Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. boosted its position in DigitalBridge Group by 4.1% during the second quarter. Victory Capital Management Inc. now owns 22,165 shares of the company’s stock valued at $304,000 after purchasing an additional 870 shares during the last quarter. Fulton Bank N.A. raised its stake in shares of DigitalBridge Group by 3.2% during the 3rd quarter. Fulton Bank N.A. now owns 28,372 shares of the company’s stock worth $401,000 after purchasing an additional 878 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of DigitalBridge Group during the 3rd quarter valued at about $34,000. Blue Trust Inc. grew its stake in shares of DigitalBridge Group by 179.2% in the 3rd quarter. Blue Trust Inc. now owns 3,752 shares of the company’s stock valued at $51,000 after buying an additional 2,408 shares in the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in DigitalBridge Group in the third quarter worth approximately $35,000. 92.69% of the stock is currently owned by hedge funds and other 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.