DigitalBridge Group (NYSE:DBRG) Reaches New 12-Month Low – What’s Next?

DigitalBridge Group, Inc. (NYSE:DBRG)’s stock price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $8.77 and last traded at $8.92, with a volume of 607568 shares trading hands. The stock had previously closed at $9.14.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. Keefe, Bruyette & Woods decreased their price target on shares of DigitalBridge Group from $14.00 to $13.50 and set a “market perform” rating on the stock in a research note on Wednesday, February 26th. Citizens Jmp upgraded DigitalBridge Group to a “strong-buy” rating in a research note on Monday, January 27th. B. Riley decreased their target price on DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, Wells Fargo & Company boosted their price target on DigitalBridge Group from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $16.39.

DigitalBridge Group Price Performance

The business’s 50 day simple moving average is $10.50 and its 200 day simple moving average is $12.24. The company has a market capitalization of $1.54 billion, a PE ratio of 294.17, a P/E/G ratio of 3.46 and a beta of 1.91.

DigitalBridge Group (NYSE:DBRG) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. The company had revenue of $101.55 million for the quarter, compared to analysts’ expectations of $93.01 million. DigitalBridge Group had a return on equity of 4.29% and a net margin of 10.98%. As a group, analysts anticipate that DigitalBridge Group, Inc. will post 0.17 EPS for the current year.

DigitalBridge Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.04 dividend on an annualized basis and a yield of 0.45%. DigitalBridge Group’s dividend payout ratio (DPR) is presently 133.33%.

Institutional Trading of DigitalBridge Group

Large investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in DigitalBridge Group by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,167,413 shares of the company’s stock worth $58,895,000 after acquiring an additional 317,776 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in DigitalBridge Group by 101.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 314,557 shares of the company’s stock valued at $4,445,000 after buying an additional 158,790 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in DigitalBridge Group by 482.6% in the third quarter. Rockefeller Capital Management L.P. now owns 144,772 shares of the company’s stock valued at $2,046,000 after buying an additional 119,922 shares in the last quarter. Holocene Advisors LP purchased a new stake in DigitalBridge Group during the 3rd quarter worth about $3,466,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of DigitalBridge Group by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,030,657 shares of the company’s stock valued at $34,186,000 after acquiring an additional 99,891 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

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.