JPMorgan Chase & Co. Lowers DigitalBridge Group (NYSE:DBRG) Price Target to $18.00

DigitalBridge Group (NYSE:DBRG) had its price objective trimmed by JPMorgan Chase & Co. from $20.00 to $18.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities research analysts have also recently weighed in on DBRG. B. Riley cut their price objective on shares of DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. 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 report on Monday, November 4th. Keefe, Bruyette & Woods cut shares of DigitalBridge Group from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $17.75 to $14.00 in a research note on Wednesday, November 6th. 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 note on Tuesday, November 5th. Finally, Truist Financial reduced their price target on shares of DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $16.75.

DigitalBridge Group Stock Performance

DigitalBridge Group stock opened at $11.50 on Tuesday. DigitalBridge Group has a fifty-two week low of $10.25 and a fifty-two week high of $20.99. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 3.20 and a beta of 1.91. The stock’s 50 day simple moving average is $11.78 and its two-hundred day simple moving average is $13.07.

Institutional Investors Weigh In On DigitalBridge Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in DBRG. Pacer Advisors Inc. grew its stake in shares of DigitalBridge Group by 26.7% during the 4th quarter. Pacer Advisors Inc. now owns 1,392,199 shares of the company’s stock valued at $15,704,000 after purchasing an additional 293,317 shares during the period. KBC Group NV increased its holdings in DigitalBridge Group by 49.3% during the fourth quarter. KBC Group NV now owns 8,326 shares of the company’s stock valued at $94,000 after buying an additional 2,750 shares during the last quarter. Blue Trust Inc. raised its position in DigitalBridge Group by 164.0% in the fourth quarter. Blue Trust Inc. now owns 9,905 shares of the company’s stock worth $112,000 after acquiring an additional 6,153 shares during the period. Kingswood Wealth Advisors LLC purchased a new position in shares of DigitalBridge Group during the 4th quarter worth $201,000. Finally, Moody National Bank Trust Division grew its position in shares of DigitalBridge Group by 41.9% during the 4th quarter. Moody National Bank Trust Division now owns 46,084 shares of the company’s stock valued at $520,000 after acquiring an additional 13,612 shares during the period. Hedge funds and other institutional investors 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.