DigitalBridge Group (NYSE:DBRG) Hits New 12-Month Low – Here’s Why

DigitalBridge Group, Inc. (NYSE:DBRG) reached a new 52-week low on Friday . The company traded as low as $10.50 and last traded at $10.66, with a volume of 245857 shares changing hands. The stock had previously closed at $10.90.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Raymond James dropped their target price on shares of DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a report on Tuesday, November 5th. Wells Fargo & Company decreased their price target on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Keefe, Bruyette & Woods downgraded DigitalBridge Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $17.75 to $14.00 in a research note on Wednesday, November 6th. Finally, B. Riley decreased their target price on DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $17.38.

DigitalBridge Group Trading Down 0.9 %

The business has a 50-day moving average of $12.09 and a 200 day moving average of $13.22. The firm has a market capitalization of $1.88 billion, a P/E ratio of 14.79, a price-to-earnings-growth ratio of 13.76 and a beta of 1.91.

DigitalBridge Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Tuesday, December 31st. DigitalBridge Group’s payout ratio is 5.48%.

Institutional Investors Weigh In On DigitalBridge Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC lifted its holdings in shares of DigitalBridge Group by 28.1% in the second quarter. Commonwealth Equity Services LLC now owns 20,760 shares of the company’s stock valued at $284,000 after purchasing an additional 4,560 shares in the last quarter. TD Asset Management Inc lifted its stake in DigitalBridge Group by 54.0% during the 2nd quarter. TD Asset Management Inc now owns 262,468 shares of the company’s stock valued at $3,596,000 after acquiring an additional 92,000 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of DigitalBridge Group by 4.1% in the 2nd quarter. Victory Capital Management Inc. now owns 22,165 shares of the company’s stock worth $304,000 after acquiring an additional 870 shares in the last quarter. Arizona State Retirement System increased its stake in DigitalBridge Group by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 45,735 shares of the company’s stock valued at $627,000 after buying an additional 872 shares during the last quarter. Finally, Headlands Technologies LLC lifted its position in shares of DigitalBridge Group by 33,627.3% during the 2nd quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock worth $102,000 after buying an additional 7,398 shares in the last quarter. Institutional investors and hedge funds 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.