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

DigitalBridge Group, Inc. (NYSE:DBRG - Get Free Report) hit 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 changing hands. The stock had previously closed at $10.72.

Wall Street Analyst Weigh In

Several research analysts have recently commented on DBRG shares. Keefe, Bruyette & Woods lowered DigitalBridge Group from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $17.75 to $14.00 in a research report on Wednesday, November 6th. JPMorgan Chase & Co. raised their target price on DigitalBridge Group from $22.00 to $23.00 and gave the company an "overweight" rating in a report on Tuesday, October 1st. Raymond James dropped 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. Truist Financial reduced their price target on shares of DigitalBridge Group from $17.00 to $15.00 and set a "buy" rating on the stock in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company dropped their price objective on shares of DigitalBridge Group from $18.00 to $16.00 and set an "overweight" rating for the company in a report on Monday, November 4th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $17.88.

DigitalBridge Group Price Performance

The stock's 50 day moving average is $12.91 and its two-hundred day moving average is $13.31. The stock has a market capitalization of $1.96 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 13.76 and a beta of 1.89.

DigitalBridge Group Announces Dividend

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

Institutional Trading of DigitalBridge Group

Institutional investors have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA purchased a new stake in shares of DigitalBridge Group during the 2nd quarter worth approximately $39,033,000. Potrero Capital Research LLC acquired a new position in DigitalBridge Group in the third quarter valued at $20,201,000. New South Capital Management Inc. boosted its stake in DigitalBridge Group by 40.1% in the second quarter. New South Capital Management Inc. now owns 3,929,762 shares of the company's stock valued at $53,838,000 after acquiring an additional 1,125,549 shares in the last quarter. Wafra Inc. increased its position in shares of DigitalBridge Group by 7.1% during the second quarter. Wafra Inc. now owns 15,455,808 shares of the company's stock worth $211,745,000 after purchasing an additional 1,020,409 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of DigitalBridge Group by 54.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,686,145 shares of the company's stock valued at $36,797,000 after purchasing an additional 952,408 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

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.