DigitalBridge Group (NYSE:DBRG) Hits New 1-Year Low on Analyst Downgrade

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) hit a new 52-week low during trading on Tuesday after Keefe, Bruyette & Woods lowered their price target on the stock from $18.50 to $17.75. Keefe, Bruyette & Woods currently has an outperform rating on the stock. DigitalBridge Group traded as low as $12.27 and last traded at $12.31, with a volume of 362970 shares trading hands. The stock had previously closed at $12.50.

A number of other brokerages have also recently commented on DBRG. JPMorgan Chase & Co. cut their price target on shares of DigitalBridge Group from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Truist Financial dropped their price objective on shares of DigitalBridge Group from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $20.96.

Hedge Funds Weigh In On DigitalBridge Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP acquired a new stake in DigitalBridge Group in the fourth quarter valued at approximately $41,000. CWM LLC boosted its position in DigitalBridge Group by 59.9% in the fourth quarter. CWM LLC now owns 8,371 shares of the company’s stock valued at $147,000 after buying an additional 3,135 shares in the last quarter. Bfsg LLC acquired a new stake in DigitalBridge Group in the fourth quarter valued at approximately $171,000. New York State Teachers Retirement System acquired a new stake in DigitalBridge Group in the fourth quarter valued at approximately $175,000. Finally, Kingswood Wealth Advisors LLC acquired a new stake in DigitalBridge Group in the first quarter valued at approximately $216,000. Institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Price Performance

The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 8.06 and a beta of 1.96. The business’s 50-day simple moving average is $14.92 and its two-hundred day simple moving average is $17.17.

DigitalBridge Group (NYSE:DBRG) last announced its earnings results on Tuesday, April 30th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). DigitalBridge Group had a return on equity of 3.14% and a net margin of 26.64%. The firm had revenue of $74.39 million for the quarter, compared to the consensus estimate of $100.76 million. Equities research analysts forecast that DigitalBridge Group, Inc. will post 0.25 earnings per share for the current year.

DigitalBridge Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Sunday, June 30th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Friday, June 28th. DigitalBridge Group’s dividend payout ratio is presently 2.58%.

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.