DigitalBridge Group (NYSE:DBRG) Hits New 12-Month Low – What’s Next?

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on DBRG shares. 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. B. Riley reduced their price objective on shares of DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. JMP Securities assumed coverage on shares of DigitalBridge Group in a research report on Monday, January 27th. They set an “outperform” rating and a $16.00 target price for the company. Citizens Jmp raised DigitalBridge Group to a “strong-buy” rating in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. decreased their price objective on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, January 21st. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $16.39.

DigitalBridge Group Stock Down 13.1 %

The stock has a market capitalization of $1.23 billion, a P/E ratio of 234.50, a price-to-earnings-growth ratio of 3.46 and a beta of 1.68. The company has a fifty day simple moving average of $10.14 and a two-hundred day simple moving average of $12.04.

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

DigitalBridge Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Monday, March 31st. DigitalBridge Group’s dividend payout ratio (DPR) is presently 133.33%.

Institutional Investors Weigh In On DigitalBridge Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sunbelt Securities Inc. increased its holdings in DigitalBridge Group by 109.9% during the 4th quarter. Sunbelt Securities Inc. now owns 2,796 shares of the company’s stock worth $31,000 after purchasing an additional 1,464 shares in the last quarter. Spire Wealth Management acquired a new position in shares of DigitalBridge Group during the fourth quarter worth about $37,000. Point72 Hong Kong Ltd bought a new position in shares of DigitalBridge Group during the fourth quarter worth about $39,000. Manchester Capital Management LLC raised its position in DigitalBridge Group by 172.1% in the 4th quarter. Manchester Capital Management LLC now owns 4,372 shares of the company’s stock valued at $49,000 after buying an additional 2,765 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in DigitalBridge Group by 114.0% in the 4th quarter. Meeder Asset Management Inc. now owns 5,087 shares of the company’s stock valued at $57,000 after acquiring an additional 2,710 shares in 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.