DigitalBridge Group (NYSE:DBRG) Reaches New 1-Year Low – Here’s What Happened

DigitalBridge Group, Inc. (NYSE:DBRG)’s share price hit a new 52-week low on Thursday . The company traded as low as $11.06 and last traded at $11.14, with a volume of 242403 shares. The stock had previously closed at $11.34.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on DBRG shares. JPMorgan Chase & Co. lifted their price objective on DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Raymond James dropped their price objective on shares of DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods downgraded shares of DigitalBridge Group from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $17.75 to $14.00 in a report on Wednesday, November 6th. Wells Fargo & Company cut their price target on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, Truist Financial lowered their price objective on shares of DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, DigitalBridge Group currently has a consensus rating of “Buy” and a consensus target price of $17.88.

DigitalBridge Group Price Performance

The company has a market cap of $1.92 billion, a PE ratio of 15.14, a P/E/G ratio of 13.76 and a beta of 1.89. The company has a 50-day moving average price of $13.49 and a two-hundred day moving average price of $13.40.

DigitalBridge Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date is Tuesday, December 31st. DigitalBridge Group’s dividend payout ratio is presently 5.48%.

Institutional Investors Weigh In On DigitalBridge Group

Large investors have recently added to or reduced their stakes in the company. nVerses Capital LLC boosted its position in DigitalBridge Group by 633.3% in the 2nd quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock valued at $30,000 after buying an additional 1,900 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of DigitalBridge Group in the third quarter worth about $34,000. Central Pacific Bank Trust Division purchased a new position in DigitalBridge Group in the third quarter valued at about $35,000. Blue Trust Inc. grew its stake in DigitalBridge Group by 179.2% during the 3rd quarter. Blue Trust Inc. now owns 3,752 shares of the company’s stock valued at $51,000 after purchasing an additional 2,408 shares in the last quarter. Finally, Headlands Technologies LLC increased its holdings in 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 purchasing an additional 7,398 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

About DigitalBridge Group

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.