DigitalBridge Group (NYSE:DBRG) Sets New 1-Year Low – What’s Next?

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) hit a new 52-week low during trading on Friday . The company traded as low as $8.77 and last traded at $8.92, with a volume of 607568 shares traded. The stock had previously closed at $9.14.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. JMP Securities assumed coverage on DigitalBridge Group in a research note on Monday, January 27th. They issued an “outperform” rating and a $16.00 price objective on the stock. Citizens Jmp raised shares of DigitalBridge Group to a “strong-buy” rating in a research note on Monday, January 27th. Truist Financial cut their target price on shares of DigitalBridge Group from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. Keefe, Bruyette & Woods lowered their price target on shares of DigitalBridge Group from $14.00 to $13.50 and set a “market perform” rating for the company in a research report on Wednesday, February 26th. Finally, B. Riley cut their price objective on shares of DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $16.39.

DigitalBridge Group Trading Down 2.9 %

The company has a market cap of $1.55 billion, a PE ratio of 295.83, a P/E/G ratio of 3.46 and a beta of 1.91. The firm’s 50-day simple moving average is $10.45 and its two-hundred day simple moving average is $12.22.

DigitalBridge Group (NYSE:DBRG) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.03. The business had revenue of $101.55 million during the quarter, compared to analysts’ expectations of $93.01 million. DigitalBridge Group had a return on equity of 4.29% and a net margin of 10.98%. As a group, analysts predict that DigitalBridge Group, Inc. will post 0.17 EPS for the current year.

DigitalBridge Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, March 31st. DigitalBridge Group’s dividend payout ratio (DPR) is 133.33%.

Institutional Trading of DigitalBridge Group

A number of hedge funds have recently added to or reduced their stakes in DBRG. Sunbelt Securities Inc. raised its position in shares of DigitalBridge Group by 109.9% in the fourth quarter. Sunbelt Securities Inc. now owns 2,796 shares of the company’s stock worth $31,000 after acquiring an additional 1,464 shares during the period. Spire Wealth Management acquired a new position in DigitalBridge Group in the 4th quarter worth about $37,000. Point72 Hong Kong Ltd purchased a new position in DigitalBridge Group during the fourth quarter worth approximately $39,000. Manchester Capital Management LLC grew its holdings in DigitalBridge Group by 172.1% in the fourth quarter. Manchester Capital Management LLC now owns 4,372 shares of the company’s stock valued at $49,000 after purchasing an additional 2,765 shares during the period. Finally, Meeder Asset Management Inc. increased its position in shares of DigitalBridge Group by 114.0% in the fourth quarter. Meeder Asset Management Inc. now owns 5,087 shares of the company’s stock valued at $57,000 after buying an additional 2,710 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

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.