DigitalBridge Group (NYSE:DBRG) Rating Lowered to Strong Sell at Zacks Research

Key Points

• DigitalBridge Group has been downgraded by Zacks Research from a "hold" rating to a "strong sell," reflecting a significant shift in analyst sentiment.
• Despite this downgrade, other analysts have varied opinions; for instance, Keefe, Bruyette & Woods set a target price of $11.00 with a "market perform" rating while Truist Financial upgraded their price target to $16.00 with a "buy" rating.
• DigitalBridge Group's shares have experienced a notable increase of 15.5%, indicating potential investor interest despite the negative rating changes from some analysts.

DigitalBridge Group (NYSE:DBRG - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report issued on Monday,Zacks.com reports.

A number of other research firms have also recently issued reports on DBRG. Keefe, Bruyette & Woods increased their target price on DigitalBridge Group from $10.50 to $11.00 and gave the stock a "market perform" rating in a research note on Tuesday, August 12th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of DigitalBridge Group in a research report on Wednesday, October 8th. Wall Street Zen raised DigitalBridge Group from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Finally, Truist Financial upped their price target on DigitalBridge Group from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $16.14.

DigitalBridge Group Stock Up 15.5%

Shares of NYSE DBRG opened at $13.45 on Monday. The firm's 50-day simple moving average is $11.54 and its 200 day simple moving average is $10.42. The company has a market cap of $2.45 billion, a price-to-earnings ratio of -336.35 and a beta of 1.66. DigitalBridge Group has a 12-month low of $6.41 and a 12-month high of $17.33.

DigitalBridge Group (NYSE:DBRG - Get Free Report) last announced its quarterly earnings data on Thursday, March 21st. The company reported ($0.07) earnings per share for the quarter. The firm had revenue of $232.83 million for the quarter. DigitalBridge Group had a return on equity of 4.14% and a net margin of 18.57%. On average, equities analysts expect that DigitalBridge Group will post 0.17 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its position in DigitalBridge Group by 4.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 26,468 shares of the company's stock worth $274,000 after buying an additional 1,031 shares during the period. Cetera Trust Company N.A increased its position in shares of DigitalBridge Group by 6.2% in the second quarter. Cetera Trust Company N.A now owns 21,075 shares of the company's stock worth $218,000 after purchasing an additional 1,225 shares during the period. Envestnet Asset Management Inc. increased its position in shares of DigitalBridge Group by 12.5% in the second quarter. Envestnet Asset Management Inc. now owns 11,746 shares of the company's stock worth $122,000 after purchasing an additional 1,309 shares during the period. Tidal Investments LLC increased its position in shares of DigitalBridge Group by 1.8% in the second quarter. Tidal Investments LLC now owns 114,559 shares of the company's stock worth $1,186,000 after purchasing an additional 1,986 shares during the period. Finally, Spirit of America Management Corp NY increased its position in shares of DigitalBridge Group by 4.5% in the second quarter. Spirit of America Management Corp NY now owns 46,000 shares of the company's stock worth $476,000 after purchasing an additional 2,000 shares during the period. Institutional investors own 92.69% of the company's stock.

DigitalBridge Group Company Profile

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.

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