DigitalBridge Group (NYSE:DBRG) Sets New 52-Week Low - Here's What Happened

DigitalBridge Group, Inc. (NYSE:DBRG - Get Free Report)'s share price hit a new 52-week low on Tuesday . The stock traded as low as $10.04 and last traded at $10.20, with a volume of 258870 shares. The stock had previously closed at $10.18.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. B. Riley decreased their target price on shares of DigitalBridge Group from $24.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Truist Financial reduced 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. JMP Securities started coverage on DigitalBridge Group in a research note on Monday, January 27th. They set an "outperform" rating and a $16.00 price objective on the stock. Raymond James cut their target price on DigitalBridge Group from $19.00 to $16.00 and set a "strong-buy" rating for the company in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. reduced their target price on DigitalBridge Group from $20.00 to $18.00 and set an "overweight" rating on the stock in a report 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 company's stock. Based on data from MarketBeat, DigitalBridge Group presently has a consensus rating of "Buy" and an average target price of $16.67.

DigitalBridge Group Stock Performance

The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 16.68, a P/E/G ratio of 3.04 and a beta of 1.91. The stock has a fifty day simple moving average of $10.99 and a two-hundred day simple moving average of $12.62.

DigitalBridge Group (NYSE:DBRG - Get Free Report) 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 3.58% and a net margin of 21.42%. The business had revenue of $101.55 million for the quarter, compared to analyst estimates of $93.01 million. Equities analysts expect that DigitalBridge Group, Inc. will post 0.04 earnings per share for the current fiscal year.

DigitalBridge Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Monday, March 31st. DigitalBridge Group's dividend payout ratio (DPR) is presently 133.33%.

Hedge Funds Weigh In On DigitalBridge Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. grew its stake in shares of DigitalBridge Group by 109.9% during the fourth quarter. Sunbelt Securities Inc. now owns 2,796 shares of the company's stock worth $31,000 after buying an additional 1,464 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of DigitalBridge Group during the 3rd quarter valued at $34,000. Spire Wealth Management bought a new stake in DigitalBridge Group during the 4th quarter worth $37,000. Point72 Hong Kong Ltd acquired a new position in DigitalBridge Group in the 4th quarter worth about $39,000. Finally, Manchester Capital Management LLC raised its position in DigitalBridge Group by 172.1% in the fourth quarter. Manchester Capital Management LLC now owns 4,372 shares of the company's stock valued at $49,000 after purchasing an additional 2,765 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.