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

DigitalBridge Group, Inc. (NYSE:DBRG)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $6.41 and last traded at $6.61, with a volume of 1027691 shares. The stock had previously closed at $6.80.

Analysts Set New Price Targets

A number of research firms recently issued reports on DBRG. Keefe, Bruyette & Woods decreased their price target on shares of DigitalBridge Group from $14.00 to $13.50 and set a “market perform” rating on the stock in a research note on Wednesday, February 26th. JMP Securities initiated coverage on shares of DigitalBridge Group in a report on Monday, January 27th. They issued an “outperform” rating and a $16.00 price target for the company. Citizens Jmp upgraded DigitalBridge Group to a “strong-buy” rating in a research report on Monday, January 27th. Wells Fargo & Company upped their price objective on DigitalBridge Group from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Finally, B. Riley dropped their target price on DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, DigitalBridge Group currently has an average rating of “Buy” and a consensus price target of $16.39.

DigitalBridge Group Stock Performance

The company has a market cap of $1.33 billion, a P/E ratio of 254.50, a price-to-earnings-growth ratio of 3.46 and a beta of 1.68. The business’s fifty day moving average is $9.74 and its two-hundred day moving average is $11.75.

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

DigitalBridge Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date is Monday, March 31st. DigitalBridge Group’s dividend payout ratio (DPR) is 133.33%.

Institutional Investors Weigh In On DigitalBridge Group

Several hedge funds have recently modified their holdings of DBRG. Sunbelt Securities Inc. lifted its stake in shares of 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 during the last quarter. Spire Wealth Management bought a new position in DigitalBridge Group in the fourth quarter worth about $37,000. Point72 Hong Kong Ltd purchased a new stake in shares of DigitalBridge Group during the fourth quarter valued at about $39,000. Manchester Capital Management LLC boosted its holdings in shares of 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 in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of DigitalBridge Group by 978.9% in the 1st quarter. GAMMA Investing LLC now owns 4,445 shares of the company’s stock worth $39,000 after buying an additional 4,033 shares during the last quarter. Hedge funds and other 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.