DigitalBridge Group (NYSE:DBRG) Hits New 52-Week Low – Here’s Why

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $10.55 and last traded at $11.19, with a volume of 2412127 shares trading hands. The stock had previously closed at $10.72.

Analyst Ratings Changes

DBRG has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price objective 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. Truist Financial dropped their price target 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. Keefe, Bruyette & Woods cut DigitalBridge Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $17.75 to $14.00 in a research report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their target price on shares of DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Finally, Raymond James reduced their price target on shares of DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a report on Tuesday, November 5th. One investment 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 stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $17.88.

DigitalBridge Group Stock Performance

The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 13.76 and a beta of 1.89. The firm’s 50-day moving average price is $12.81 and its two-hundred day moving average price is $13.30.

DigitalBridge Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Tuesday, December 31st. DigitalBridge Group’s payout ratio is 5.48%.

Hedge Funds Weigh In On DigitalBridge Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. nVerses Capital LLC raised its stake in DigitalBridge Group by 633.3% during the second quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock worth $30,000 after acquiring an additional 1,900 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of DigitalBridge Group during the 3rd quarter worth about $34,000. Central Pacific Bank Trust Division bought a new position in DigitalBridge Group during the 3rd quarter valued at about $35,000. Blue Trust Inc. boosted its position in DigitalBridge Group by 179.2% in the third quarter. Blue Trust Inc. now owns 3,752 shares of the company’s stock valued at $51,000 after buying an additional 2,408 shares in the last quarter. Finally, Headlands Technologies LLC grew its stake in 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 buying an additional 7,398 shares during the last quarter. Institutional investors 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.