DigitalBridge Group (NYSE:DBRG) Reaches New 52-Week Low – Here’s What Happened

DigitalBridge Group, Inc. (NYSE:DBRG)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $8.26 and last traded at $8.38, with a volume of 1846283 shares. The stock had previously closed at $9.19.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DBRG shares. Keefe, Bruyette & Woods cut their target price on DigitalBridge Group from $14.00 to $13.50 and set a “market perform” rating on the stock in a research report on Wednesday, February 26th. B. Riley reduced their price objective 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. Wells Fargo & Company lifted their target price on DigitalBridge Group from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. JMP Securities started coverage on shares of DigitalBridge Group in a report on Monday, January 27th. They issued an “outperform” rating and a $16.00 price target on the stock. Finally, Citizens Jmp upgraded shares of DigitalBridge Group to a “strong-buy” rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $16.39.

DigitalBridge Group Stock Performance

The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 270.23, a PEG ratio of 3.46 and a beta of 1.91. The business’s 50 day moving average price is $10.30 and its 200 day moving average price is $12.12.

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

DigitalBridge Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.01 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.04 annualized dividend and a dividend yield of 0.49%. DigitalBridge Group’s dividend payout ratio is presently 133.33%.

Institutional Trading of DigitalBridge Group

Institutional investors have recently bought and sold shares of the business. Central Pacific Bank Trust Division raised its stake in shares of DigitalBridge Group by 160.0% during the 1st quarter. Central Pacific Bank Trust Division now owns 6,500 shares of the company’s stock worth $57,000 after buying an additional 4,000 shares during the period. Public Employees Retirement System of Ohio raised its position in DigitalBridge Group by 26.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 581,594 shares of the company’s stock worth $6,560,000 after acquiring an additional 122,047 shares during the period. Sunbelt Securities Inc. lifted its holdings in DigitalBridge Group by 109.9% during the fourth quarter. Sunbelt Securities Inc. now owns 2,796 shares of the company’s stock valued at $31,000 after purchasing an additional 1,464 shares in the last quarter. GTS Securities LLC acquired a new stake in shares of DigitalBridge Group in the fourth quarter valued at about $216,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of DigitalBridge Group by 17.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 370,164 shares of the company’s stock worth $4,175,000 after purchasing an additional 55,607 shares in 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.