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

DigitalBridge Group, Inc. (NYSE:DBRG)’s stock price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $11.06 and last traded at $11.14, with a volume of 242403 shares changing hands. The stock had previously closed at $11.34.

Analyst Upgrades and Downgrades

DBRG has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Wells Fargo & Company cut their price target on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Truist Financial reduced their price target on shares of DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, December 11th. Keefe, Bruyette & Woods lowered shares of DigitalBridge Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $17.75 to $14.00 in a report on Wednesday, November 6th. Finally, Raymond James reduced their target price on shares of DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a research note on Tuesday, November 5th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $17.88.

DigitalBridge Group Stock Performance

The firm’s 50-day simple moving average is $13.66 and its 200 day simple moving average is $13.43. The stock has a market capitalization of $1.94 billion, a P/E ratio of 15.23, a PEG ratio of 13.76 and a beta of 1.89.

DigitalBridge Group Announces Dividend

The business also recently declared 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. This represents a $0.04 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Tuesday, December 31st. DigitalBridge Group’s dividend payout ratio (DPR) is 5.48%.

Institutional Trading of DigitalBridge Group

A number of large investors have recently added to or reduced their stakes in DBRG. Spirit of America Management Corp NY lifted its position in DigitalBridge Group by 2,233.3% during the second quarter. Spirit of America Management Corp NY now owns 35,000 shares of the company’s stock worth $480,000 after acquiring an additional 33,500 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of DigitalBridge Group by 9.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 910,386 shares of the company’s stock worth $12,472,000 after purchasing an additional 79,858 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of DigitalBridge Group by 3.2% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 112,282 shares of the company’s stock worth $1,538,000 after purchasing an additional 3,441 shares during the period. Iridian Asset Management LLC CT raised its stake in DigitalBridge Group by 2.0% in the second quarter. Iridian Asset Management LLC CT now owns 325,096 shares of the company’s stock valued at $4,454,000 after purchasing an additional 6,368 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in DigitalBridge Group by 20.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,094 shares of the company’s stock worth $549,000 after purchasing an additional 6,713 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

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.