DigitalBridge Group (NYSE:DBRG) Sets New 12-Month Low – Here’s What Happened

DigitalBridge Group, Inc. (NYSE:DBRG) shares reached a new 52-week low during trading on Friday . The stock traded as low as $10.50 and last traded at $10.66, with a volume of 245857 shares. The stock had previously closed at $10.90.

Analysts Set New Price Targets

Several equities research analysts have weighed in on DBRG shares. Truist Financial cut their price target on DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, December 11th. Raymond James cut 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 research note on Tuesday, November 5th. B. Riley reduced their price objective on shares of DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Keefe, Bruyette & Woods downgraded shares of DigitalBridge Group from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $17.75 to $14.00 in a research note on Wednesday, November 6th. Finally, 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 research note on Monday, November 4th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $17.38.

DigitalBridge Group Trading Down 2.7 %

The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 13.76 and a beta of 1.91. The company’s 50 day moving average is $12.03 and its 200 day moving average is $13.20.

DigitalBridge Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Tuesday, December 31st. DigitalBridge Group’s dividend payout ratio (DPR) is currently 5.48%.

Institutional Trading of DigitalBridge Group

A number of large investors have recently made changes to their positions in the company. Fulton Bank N.A. increased its position in DigitalBridge Group by 17.9% during the fourth quarter. Fulton Bank N.A. now owns 33,442 shares of the company’s stock worth $377,000 after buying an additional 5,070 shares during the period. Nordea Investment Management AB increased its holdings in shares of DigitalBridge Group by 6.1% in the 4th quarter. Nordea Investment Management AB now owns 273,609 shares of the company’s stock valued at $3,114,000 after acquiring an additional 15,830 shares during the period. Franklin Resources Inc. raised its position in DigitalBridge Group by 33.6% in the 3rd quarter. Franklin Resources Inc. now owns 180,369 shares of the company’s stock valued at $2,792,000 after purchasing an additional 45,333 shares during the last quarter. Tidal Investments LLC boosted its stake in DigitalBridge Group by 22.8% during the 3rd quarter. Tidal Investments LLC now owns 99,995 shares of the company’s stock worth $1,413,000 after purchasing an additional 18,536 shares during the period. Finally, Sanctuary Advisors LLC boosted its stake in DigitalBridge Group by 10.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 219,342 shares of the company’s stock worth $3,099,000 after purchasing an additional 20,486 shares during the period. 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.