DigitalBridge Group (NYSE:DBRG) Sets New 52-Week Low – Should You Sell?

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

Wall Street Analyst Weigh In

DBRG has been the topic of several research analyst reports. Truist Financial reduced their price objective on DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Raymond James lowered their price objective on shares of 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. Keefe, Bruyette & Woods cut shares of DigitalBridge Group from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $17.75 to $14.00 in a report on Wednesday, November 6th. Wells Fargo & Company lowered their target price on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. boosted their price objective on DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, DigitalBridge Group presently has an average rating of “Buy” and an average target price of $17.88.

DigitalBridge Group Stock Up 1.1 %

The firm has a market capitalization of $1.90 billion, a P/E ratio of 14.95, a PEG ratio of 13.76 and a beta of 1.89. The business’s 50 day moving average is $13.31 and its two-hundred day moving average is $13.37.

DigitalBridge Group Dividend Announcement

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

Institutional Investors Weigh In On DigitalBridge Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in shares of DigitalBridge Group by 9.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 910,386 shares of the company’s stock valued at $12,472,000 after purchasing an additional 79,858 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in DigitalBridge Group by 3.2% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 112,282 shares of the company’s stock valued at $1,538,000 after purchasing an additional 3,441 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of DigitalBridge Group by 20.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 40,094 shares of the company’s stock valued at $549,000 after acquiring an additional 6,713 shares during the last quarter. Peregrine Capital Management LLC boosted its position in shares of DigitalBridge Group by 22.6% in the 2nd quarter. Peregrine Capital Management LLC now owns 493,074 shares of the company’s stock valued at $6,755,000 after purchasing an additional 90,875 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of DigitalBridge Group by 47.5% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,092,671 shares of the company’s stock valued at $14,969,000 after purchasing an additional 351,965 shares during the period. Institutional investors own 92.69% of the company’s stock.

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.