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

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) reached 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 trading hands. The stock had previously closed at $10.72.

Analyst Ratings Changes

Several equities analysts have recently issued reports on DBRG shares. Raymond James reduced their price target on shares of DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a report on Tuesday, November 5th. Truist Financial decreased 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 report on Wednesday, December 11th. Wells Fargo & Company cut their price target on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. JPMorgan Chase & Co. increased their price objective on DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Finally, Keefe, Bruyette & Woods downgraded DigitalBridge Group from an “outperform” rating to a “market perform” rating and cut their target price for the company from $17.75 to $14.00 in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $17.88.

DigitalBridge Group Stock Up 4.4 %

The business has a 50-day simple moving average of $13.01 and a two-hundred day simple moving average of $13.32. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 15.33, a P/E/G ratio of 13.76 and a beta of 1.89.

DigitalBridge Group Announces Dividend

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 paid a dividend of $0.01 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.04 annualized dividend and a yield of 0.36%. DigitalBridge Group’s dividend payout ratio is currently 5.48%.

Institutional Investors Weigh In On DigitalBridge Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wafra Inc. grew its stake in shares of DigitalBridge Group by 7.1% in the 2nd 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 during the last quarter. State Street Corp grew its position in DigitalBridge Group by 12.0% in the third quarter. State Street Corp now owns 4,427,379 shares of the company’s stock worth $62,603,000 after buying an additional 474,101 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of DigitalBridge Group by 8.3% in the third quarter. Geode Capital Management LLC now owns 4,167,413 shares of the company’s stock valued at $58,895,000 after buying an additional 317,776 shares in the last quarter. New South Capital Management Inc. lifted its position in shares of DigitalBridge Group by 0.3% during the 3rd quarter. New South Capital Management Inc. now owns 3,940,203 shares of the company’s stock valued at $55,675,000 after acquiring an additional 10,441 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of DigitalBridge Group by 27.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,640,632 shares of the company’s stock worth $51,442,000 after acquiring an additional 791,506 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

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.