DigitalBridge Group (NYSE:DBRG) Issues Earnings Results, Beats Expectations By $0.19 EPS

DigitalBridge Group (NYSE:DBRG) released its quarterly earnings data on Wednesday. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.08 by $0.19, Briefing.com reports. The business had revenue of $47.90 million for the quarter, compared to analysts’ expectations of $101.29 million. DigitalBridge Group’s revenue for the quarter was down 27.6% compared to the same quarter last year. During the same period last year, the company earned ($0.12) earnings per share.

DigitalBridge Group Stock Down 0.1%

NYSE:DBRG opened at $15.38 on Thursday. The business’s 50-day moving average price is $15.10 and its two-hundred day moving average price is $12.83. DigitalBridge Group has a twelve month low of $6.41 and a twelve month high of $15.55. The stock has a market cap of $2.81 billion, a P/E ratio of 256.29 and a beta of 1.70.

Institutional Investors Weigh In On DigitalBridge Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cetera Investment Advisers lifted its position in DigitalBridge Group by 4.4% during the fourth quarter. Cetera Investment Advisers now owns 28,921 shares of the company’s stock valued at $444,000 after purchasing an additional 1,214 shares during the period. Cerity Partners LLC grew its position in DigitalBridge Group by 2.5% in the 4th quarter. Cerity Partners LLC now owns 53,055 shares of the company’s stock worth $814,000 after purchasing an additional 1,274 shares during the period. Envestnet Asset Management Inc. raised its stake in DigitalBridge Group by 12.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 11,746 shares of the company’s stock valued at $122,000 after buying an additional 1,309 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in shares of DigitalBridge Group by 305.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,760 shares of the company’s stock valued at $27,000 after buying an additional 1,326 shares during the period. Finally, Quarry LP boosted its stake in shares of DigitalBridge Group by 1,467.2% in the 4th quarter. Quarry LP now owns 2,053 shares of the company’s stock worth $31,000 after buying an additional 1,922 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. B. Riley Financial cut shares of DigitalBridge Group from a “buy” rating to a “hold” rating and dropped their price target for the company from $20.00 to $16.00 in a research note on Tuesday, December 30th. Zacks Research raised shares of DigitalBridge Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 5th. Royal Bank Of Canada downgraded DigitalBridge Group from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $23.00 to $16.00 in a research report on Tuesday, December 30th. Citizens Jmp cut DigitalBridge Group from a “market outperform” rating to a “hold” rating and set a $16.00 price target for the company. in a research report on Monday, December 29th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of DigitalBridge Group in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $16.00.

DigitalBridge Group Company Profile

DigitalBridge Group, Inc (NYSE: DBRG) is a specialized global investment firm focused exclusively on digital infrastructure. The company originates, acquires, and manages a diversified portfolio of businesses that support the digital economy, including data centers, cell towers, small cells, fiber networks, edge infrastructure and related services. DigitalBridge seeks to generate sustainable, long-term returns for its investors by deploying capital into high-growth sectors driven by increasing data consumption, 5G deployment and cloud adoption.

Through its dedicated investment platforms, DigitalBridge provides equity and debt financing solutions to operators and owners of digital infrastructure assets.