DigitalBridge Group (NYSE:DBRG) Sets New 12-Month Low – Here’s What Happened

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

Analysts Set New Price Targets

Several research firms have issued reports on DBRG. 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 report on Monday, November 4th. JPMorgan Chase & Co. boosted their target price on DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. B. Riley decreased their price target on DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods lowered DigitalBridge Group from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $17.75 to $14.00 in a research note on Wednesday, November 6th. Finally, Truist Financial decreased 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 report on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $17.38.

DigitalBridge Group Stock Down 2.7 %

The stock’s 50 day moving average price is $12.03 and its two-hundred day moving average price is $13.20. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 14.53, 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. Investors of record on Tuesday, December 31st will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Tuesday, December 31st. DigitalBridge Group’s dividend payout ratio is currently 5.48%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DBRG. Commonwealth Equity Services LLC increased its stake in shares of DigitalBridge Group by 28.1% in the 2nd 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. Victory Capital Management Inc. increased its position in shares of DigitalBridge Group by 4.1% in the second quarter. Victory Capital Management Inc. now owns 22,165 shares of the company’s stock valued at $304,000 after buying an additional 870 shares in the last quarter. Arizona State Retirement System lifted its position in shares of DigitalBridge Group by 1.9% during 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 in the last quarter. Headlands Technologies LLC grew its stake in DigitalBridge Group by 33,627.3% in the 2nd quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock valued at $102,000 after acquiring an additional 7,398 shares during the period. Finally, American Century Companies Inc. increased its holdings in DigitalBridge Group by 65.9% in the 2nd quarter. American Century Companies Inc. now owns 79,368 shares of the company’s stock worth $1,087,000 after acquiring an additional 31,530 shares in the last quarter. Hedge funds and other institutional investors 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.