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DigitalBridge Stock (NYSE: DBRG) Target Lowered to $24 At B. Riley

Analyst Team trader
Updated 9 Jul 2024

DigitalBridge Group stock (NYSE: DBRG), off the back of 26.55% losses so far through 2024 have received a price target drop from B Riley. The real estate services firm specializing in digital infrastructure assets, trades on the New York Stock Exchange (NYSE) under the ticker symbol DBRG.

DigitalBridge's stock trades considerably closer to 52 week lows than highs, with the current price of $13.11 against the range of $12.12 to $20.99.

B. Riley maintains a Buy rating on the DigitalBridge shares, suggesting that despite the reduced forward distributable earnings per share estimates, a robust price recovery could be on the horizon for DigitalBridge. The firm's new price target has been set at $24, down from the previous $27, offering a silver lining for investors as the firm points to the current share weakness as an appealing entry point.

DigitalBridge Group, Inc., headquartered in Boca Raton, Florida, operates mainly within the Real Estate sector. The firm's business revolves around investing in data centers, cell towers, fiber networks, small cells, and edge infrastructure, making it a significant player in the realm of digital infrastructure.

Financial and Institutional Insights

The company currently has a market capitalization of approximately $2.28 billion. and carries a trailing P/E ratio of 6.2. Its financial health is underscored by a modest dividend rate of $0.04 with a yield of 0.31% and a conservative payout ratio of 1.91%.

In terms of institutional confidence, a striking 95.98% of DigitalBridge stock is held by institutions, and insider stake stands at 3.779%. With an average price target of $20.22 and a consensus rating of “buy” according to the eight analysts offering their opinions, the company's shares hold potential, as reflected in B. Riley's assessment.

The broad context of the Real Estate Services industry, especially the digital infrastructure segment, is integral to understanding DigitalBridge's market positioning. The company's foundation in this sector enables it to leverage trends in data expansion and connectivity requirements, which are central to the growing demand for digital infrastructure globally.

In conclusion, B. Riley's recalibration of DigitalBridge Group, Inc.'s price target represents continued faith in the company's growth potential, despite the lower earnings projection. The firm's Buy rating suggests that for investors focusing on the long-term digital infrastructure trend, DigitalBridge offers solid upside potential at its current price point, but as always, your own due diligence would be needed for any personal decision.

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The AskTraders Analyst Team features experts in technical and fundamental analysis, as well as traders specializing in stocks, forex, and cryptocurrency.