DigitalBridge Group (NYSE:DBRG) Reaches New 1-Year Low - Here's Why

Shares of DigitalBridge Group, Inc. (NYSE:DBRG - Get Free Report) hit a new 52-week low on Wednesday . The stock traded as low as $10.60 and last traded at $10.91, with a volume of 1478836 shares trading hands. The stock had previously closed at $10.79.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on DigitalBridge Group from $22.00 to $23.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 1st. Keefe, Bruyette & Woods lowered shares of 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 report on Wednesday, November 6th. Wells Fargo & Company reduced their price objective 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 lowered their target price on shares of DigitalBridge Group from $17.00 to $15.00 and set a "buy" rating for the company in a research note on Wednesday, December 11th. Finally, Raymond James dropped their target price on shares of DigitalBridge Group from $19.00 to $16.00 and set a "strong-buy" rating on the stock in a report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, DigitalBridge Group currently has an average rating of "Buy" and a consensus target price of $17.88.

DigitalBridge Group Price Performance

The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 13.76 and a beta of 1.89. The business's fifty day simple moving average is $13.22 and its 200 day simple moving average is $13.35.

DigitalBridge Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend is Tuesday, December 31st. DigitalBridge Group's payout ratio is 5.48%.

Hedge Funds Weigh In On DigitalBridge Group

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

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.