JMP Securities Begins Coverage on DigitalBridge Group (NYSE:DBRG)

JMP Securities initiated coverage on shares of DigitalBridge Group (NYSE:DBRG) in a research note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $16.00 price target on the stock. JMP Securities’ price target would indicate a potential upside of 37.87% from the stock’s previous close.

Several other research analysts have also recently issued reports on DBRG. Wells Fargo & Company reduced their price objective on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Keefe, Bruyette & Woods cut shares of DigitalBridge Group from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $17.75 to $14.00 in a research note on Wednesday, November 6th. Truist Financial dropped their price objective on shares of DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. B. Riley reduced their target price on shares of DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. lowered their price target on shares of DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, DigitalBridge Group currently has a consensus rating of “Buy” and a consensus target price of $16.67.

DigitalBridge Group Stock Performance

Shares of DBRG stock opened at $11.61 on Monday. DigitalBridge Group has a fifty-two week low of $10.25 and a fifty-two week high of $20.99. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 3.10 and a beta of 1.91. The stock’s 50-day simple moving average is $11.76 and its 200-day simple moving average is $13.05.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Fulton Bank N.A. boosted its holdings in DigitalBridge Group by 3.2% in the 3rd quarter. Fulton Bank N.A. now owns 28,372 shares of the company’s stock worth $401,000 after buying an additional 878 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of DigitalBridge Group in the third quarter valued at approximately $34,000. Blue Trust Inc. boosted its stake in shares of DigitalBridge Group by 179.2% in the third quarter. Blue Trust Inc. now owns 3,752 shares of the company’s stock worth $51,000 after acquiring an additional 2,408 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of DigitalBridge Group during the third quarter worth approximately $35,000. Finally, Ellis Investment Partners LLC raised its stake in DigitalBridge Group by 5.7% in the 3rd quarter. Ellis Investment Partners LLC now owns 46,426 shares of the company’s stock valued at $656,000 after purchasing an additional 2,500 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

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.