DigitalBridge Group (NYSE:DBRG) Sets New 52-Week Low – Here’s Why

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

Analyst Ratings Changes

DBRG has been the topic of a number of research analyst reports. Raymond James reduced their target price on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a report on Tuesday, November 5th. Keefe, Bruyette & Woods cut DigitalBridge Group from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $17.75 to $14.00 in a research report on Wednesday, November 6th. Wells Fargo & Company lowered their target price on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. JPMorgan Chase & Co. raised their price target on shares of DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Finally, Truist Financial lowered their price target on shares of DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating for the company in a 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 given a strong buy rating to the stock. Based on data from MarketBeat, DigitalBridge Group presently has an average rating of “Buy” and a consensus price target of $17.88.

DigitalBridge Group Stock Performance

The stock has a market cap of $1.94 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 13.76 and a beta of 1.89. The firm’s fifty day simple moving average is $13.66 and its 200-day simple moving average is $13.43.

DigitalBridge Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend is Tuesday, December 31st. DigitalBridge Group’s dividend payout ratio (DPR) is presently 5.48%.

Institutional Trading of DigitalBridge Group

Large investors have recently modified their holdings of the stock. Spirit of America Management Corp NY boosted its stake in DigitalBridge Group by 2,233.3% during the second quarter. Spirit of America Management Corp NY now owns 35,000 shares of the company’s stock worth $480,000 after acquiring an additional 33,500 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of DigitalBridge Group by 9.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 910,386 shares of the company’s stock worth $12,472,000 after purchasing an additional 79,858 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of DigitalBridge Group by 3.2% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 112,282 shares of the company’s stock valued at $1,538,000 after buying an additional 3,441 shares during the period. Iridian Asset Management LLC CT increased its position in DigitalBridge Group by 2.0% in the 2nd quarter. Iridian Asset Management LLC CT now owns 325,096 shares of the company’s stock valued at $4,454,000 after buying an additional 6,368 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in DigitalBridge Group by 20.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,094 shares of the company’s stock valued at $549,000 after buying an additional 6,713 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.