DigitalBridge Group (NYSE:DBRG) Hits New 1-Year Low on Analyst Downgrade

DigitalBridge Group, Inc. (NYSE:DBRG) shares reached a new 52-week low during mid-day trading on Tuesday after Keefe, Bruyette & Woods lowered their price target on the stock from $18.50 to $17.75. Keefe, Bruyette & Woods currently has an outperform rating on the stock. DigitalBridge Group traded as low as $12.27 and last traded at $12.31, with a volume of 362970 shares changing hands. The stock had previously closed at $12.50.

Other equities analysts have also recently issued research reports about the company. JPMorgan Chase & Co. dropped their price objective on DigitalBridge Group from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Truist Financial dropped their price objective on DigitalBridge Group from $22.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Five analysts have rated the stock with a buy rating and one has issued 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 price target of $20.96.

Institutional Investors Weigh In On DigitalBridge Group

Several hedge funds have recently made changes to their positions in DBRG. New York State Common Retirement Fund lifted its stake in shares of DigitalBridge Group by 0.3% during the 4th quarter. New York State Common Retirement Fund now owns 151,149 shares of the company’s stock worth $2,651,000 after purchasing an additional 514 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in shares of DigitalBridge Group by 7.2% during the 4th quarter. Teacher Retirement System of Texas now owns 13,399 shares of the company’s stock worth $235,000 after purchasing an additional 905 shares during the last quarter. Fulton Bank N.A. lifted its stake in shares of DigitalBridge Group by 16.8% during the 4th quarter. Fulton Bank N.A. now owns 14,459 shares of the company’s stock worth $254,000 after purchasing an additional 2,083 shares during the last quarter. Harvest Investment Services LLC lifted its stake in shares of DigitalBridge Group by 8.3% during the 4th quarter. Harvest Investment Services LLC now owns 27,084 shares of the company’s stock worth $475,000 after purchasing an additional 2,084 shares during the last quarter. Finally, Swiss National Bank lifted its stake in shares of DigitalBridge Group by 0.7% during the 1st quarter. Swiss National Bank now owns 322,325 shares of the company’s stock worth $6,211,000 after purchasing an additional 2,100 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

DigitalBridge Group Stock Performance

The business has a 50 day moving average of $14.92 and a two-hundred day moving average of $17.17. The stock has a market capitalization of $2.14 billion, a PE ratio of 7.94 and a beta of 1.96.

DigitalBridge Group (NYSE:DBRG) last announced its earnings results on Tuesday, April 30th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). DigitalBridge Group had a net margin of 26.64% and a return on equity of 3.14%. The business had revenue of $74.39 million for the quarter, compared to analyst estimates of $100.76 million. On average, equities analysts expect that DigitalBridge Group, Inc. will post 0.25 EPS for the current fiscal year.

DigitalBridge Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Sunday, June 30th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend is Friday, June 28th. DigitalBridge Group’s dividend payout ratio is currently 2.58%.

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.