DigitalBridge Group (NYSE:DBRG) Hits New 1-Year Low on Analyst Downgrade

DigitalBridge Group, Inc. (NYSE:DBRG)’s share price reached a new 52-week low on Tuesday after Keefe, Bruyette & Woods lowered their price target on the stock from $18.50 to $17.75. Keefe, Bruyette & Woods currently has an outperform rating on the stock. DigitalBridge Group traded as low as $12.27 and last traded at $12.31, with a volume of 362970 shares changing hands. The stock had previously closed at $12.50.

Several other brokerages have also recently issued reports on DBRG. Truist Financial dropped their price target on DigitalBridge Group from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. JPMorgan Chase & Co. dropped their target price on DigitalBridge Group from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $20.96.

Institutional Investors Weigh In On DigitalBridge Group

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in DigitalBridge Group by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 23,377,984 shares of the company’s stock valued at $410,985,000 after buying an additional 83,381 shares in the last quarter. Frontier Capital Management Co. LLC lifted its stake in shares of DigitalBridge Group by 10.4% during the 4th quarter. Frontier Capital Management Co. LLC now owns 3,550,341 shares of the company’s stock worth $62,273,000 after purchasing an additional 334,381 shares during the period. Wellington Management Group LLP lifted its stake in shares of DigitalBridge Group by 5.3% during the 4th quarter. Wellington Management Group LLP now owns 2,872,338 shares of the company’s stock worth $50,381,000 after purchasing an additional 144,945 shares during the period. Invesco Ltd. increased its holdings in shares of DigitalBridge Group by 12.6% during the 3rd quarter. Invesco Ltd. now owns 2,066,017 shares of the company’s stock worth $36,321,000 after buying an additional 231,265 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of DigitalBridge Group during the 4th quarter worth $31,651,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Stock Performance

The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 8.06 and a beta of 1.96. The business has a fifty day moving average price of $14.92 and a 200 day moving average price of $17.17.

DigitalBridge Group (NYSE:DBRG) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). DigitalBridge Group had a net margin of 26.64% and a return on equity of 3.14%. The company had revenue of $74.39 million during the quarter, compared to analyst estimates of $100.76 million. On average, analysts expect that DigitalBridge Group, Inc. will post 0.25 earnings per share for the current year.

DigitalBridge Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Sunday, June 30th will be paid a dividend of $0.01 per share. The ex-dividend date is Friday, June 28th. This represents a $0.04 annualized dividend and a dividend yield of 0.32%. DigitalBridge Group’s dividend payout ratio is presently 2.58%.

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.