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

DigitalBridge Group, Inc. (NYSE:DBRG)’s share price hit a new 52-week low during trading on Friday . The company traded as low as $10.50 and last traded at $10.66, with a volume of 245857 shares. The stock had previously closed at $10.90.

Analyst Ratings Changes

Several equities analysts have weighed in on DBRG shares. Wells Fargo & Company cut their target price on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. JPMorgan Chase & Co. increased their target price on DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Keefe, Bruyette & Woods lowered DigitalBridge Group from an “outperform” rating to a “market perform” rating and cut their price target for the company from $17.75 to $14.00 in a report on Wednesday, November 6th. Truist Financial dropped their target price on DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, December 11th. Finally, B. Riley reduced their price target on DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $17.38.

DigitalBridge Group Price Performance

The firm has a market cap of $1.88 billion, a P/E ratio of 14.79, a PEG ratio of 13.76 and a beta of 1.91. The company’s 50-day moving average is $12.09 and its two-hundred day moving average is $13.22.

DigitalBridge Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.01 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.04 annualized dividend and a yield of 0.37%. DigitalBridge Group’s dividend payout ratio is currently 5.48%.

Hedge Funds Weigh In On DigitalBridge Group

Several hedge funds and other institutional investors have recently modified their holdings of DBRG. Meeder Asset Management Inc. acquired a new stake in shares of DigitalBridge Group in the 3rd quarter valued at approximately $34,000. Central Pacific Bank Trust Division bought a new position in shares of DigitalBridge Group in the 3rd quarter valued at $35,000. Blue Trust Inc. boosted its holdings in shares of DigitalBridge Group by 179.2% during the 3rd quarter. Blue Trust Inc. now owns 3,752 shares of the company’s stock valued at $51,000 after acquiring an additional 2,408 shares in the last quarter. nVerses Capital LLC increased its holdings in DigitalBridge Group by 145.5% in the 3rd quarter. nVerses Capital LLC now owns 5,400 shares of the company’s stock worth $76,000 after purchasing an additional 3,200 shares in the last quarter. Finally, Headlands Technologies LLC grew its holdings in shares of DigitalBridge Group by 33,627.3% during the second quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock worth $102,000 after purchasing an additional 7,398 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

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.