Fintel reports that on September 28, 2023, JP Morgan upgraded their outlook for DigitalBridge Group Inc – (NYSE:DBRG) from Neutral to Overweight.

Analyst Price Forecast Suggests 43.64% Upside

As of August 31, 2023, the average one-year price target for DigitalBridge Group Inc – is 23.74. The forecasts range from a low of 19.19 to a high of $36.75. The average price target represents an increase of 43.64% from its latest reported closing price of 16.53.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for DigitalBridge Group Inc – is 1,303MM, a decrease of 19.61%. The projected annual non-GAAP EPS is -0.54.

What is the Fund Sentiment?

There are 477 funds or institutions reporting positions in DigitalBridge Group Inc -. This is an increase of 13 owner(s) or 2.80% in the last quarter. Average portfolio weight of all funds dedicated to DBRG is 0.35%, an increase of 18.77%. Total shares owned by institutions increased in the last three months by 3.27% to 169,359K shares. The put/call ratio of DBRG is 0.12, indicating a bullish outlook.

What are Other Shareholders Doing?

Wafra holds 14,435K shares representing 8.88% ownership of the company. No change in the last quarter.

Wolf Hill Capital Management holds 9,976K shares representing 6.13% ownership of the company. In it’s prior filing, the firm reported owning 6,777K shares, representing an increase of 32.06%. The firm increased its portfolio allocation in DBRG by 29.73% over the last quarter.

SMCWX – SMALLCAP WORLD FUND INC holds 8,972K shares representing 5.52% ownership of the company. No change in the last quarter.

Capital International Investors holds 8,972K shares representing 5.52% ownership of the company. No change in the last quarter.

VGSIX – Vanguard Real Estate Index Fund Investor Shares holds 7,022K shares representing 4.32% ownership of the company. In it’s prior filing, the firm reported owning 7,311K shares, representing a decrease of 4.11%. The firm decreased its portfolio allocation in DBRG by 10.61% over the last quarter.

DigitalBridge Group Background Information
(This description is provided by the company.)

DigitalBridge is a leading global digital infrastructure REIT. With a heritage of over 25 years investing in and operating businesses across the digital ecosystem including cell towers, data centers, fiber, small cells, and edge infrastructure, the DigitalBridge team manages a $35 billion portfolio of digital infrastructure assets on behalf of its limited partners and shareholders. Headquartered in Boca Raton, DigitalBridge has key offices in Los Angeles, New York, London, and Singapore.

This article originally appeared on Fintel

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