DigitalBridge Group (NYSE:DBRG) Reaches New 1-Year Low – Here’s What Happened

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DBRG. Raymond James reduced their price objective on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a research note on Tuesday, November 5th. Truist Financial reduced their price target 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. JPMorgan Chase & Co. raised their price objective on shares of DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Keefe, Bruyette & Woods downgraded DigitalBridge Group from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $17.75 to $14.00 in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company cut their price objective on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $17.88.

DigitalBridge Group Price Performance

The company has a market capitalization of $1.92 billion, a PE ratio of 15.14, a P/E/G ratio of 13.76 and a beta of 1.89. The stock has a 50-day simple moving average of $13.49 and a 200 day simple moving average of $13.40.

DigitalBridge Group Dividend Announcement

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

Institutional Trading of DigitalBridge Group

Several large investors have recently modified their holdings of the business. Franklin Resources Inc. lifted its position in shares of DigitalBridge Group by 33.6% in the third quarter. Franklin Resources Inc. now owns 180,369 shares of the company’s stock valued at $2,792,000 after acquiring an additional 45,333 shares in the last quarter. Tidal Investments LLC raised its stake in DigitalBridge Group by 22.8% in the 3rd quarter. Tidal Investments LLC now owns 99,995 shares of the company’s stock valued at $1,413,000 after purchasing an additional 18,536 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in DigitalBridge Group by 10.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 219,342 shares of the company’s stock valued at $3,099,000 after purchasing an additional 20,486 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of 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 purchasing an additional 317,776 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of DigitalBridge Group by 364.3% during the 3rd quarter. Barclays PLC now owns 268,326 shares of the company’s stock worth $3,792,000 after purchasing an additional 210,533 shares during the last quarter. 92.69% of the stock is currently 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.