DigitalBridge Group (NYSE:DBRG) Shares Down 3.5% – Here’s Why

DigitalBridge Group, Inc. (NYSE:DBRG) fell 3.5% on Tuesday . The company traded as low as $11.26 and last traded at $11.18. 1,030,803 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 2,552,503 shares. The stock had previously closed at $11.59.

Wall Street Analysts Forecast Growth

DBRG has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut their price target on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. Wells Fargo & Company upped their target price on shares of DigitalBridge Group from $15.00 to $16.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Truist Financial cut their price target on DigitalBridge Group from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. Keefe, Bruyette & Woods decreased their price objective on DigitalBridge Group from $13.50 to $10.50 and set a “market perform” rating for the company in a report on Tuesday, May 6th. Finally, Citizens Jmp raised DigitalBridge Group to a “strong-buy” rating in a research note on Monday, January 27th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, DigitalBridge Group has a consensus rating of “Buy” and an average target price of $16.06.

DigitalBridge Group Stock Performance

The company has a market cap of $1.97 billion, a P/E ratio of 375.33, a P/E/G ratio of 3.46 and a beta of 1.58. The firm has a 50 day moving average price of $8.72 and a 200-day moving average price of $10.50.

DigitalBridge Group (NYSE:DBRG) last released its earnings results on Thursday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. DigitalBridge Group had a return on equity of 4.29% and a net margin of 10.98%. The firm had revenue of $101.55 million for the quarter, compared to analyst estimates of $93.01 million. On average, sell-side analysts forecast that DigitalBridge Group, Inc. will post 0.17 EPS for the current fiscal year.

DigitalBridge Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.36%. DigitalBridge Group’s dividend payout ratio (DPR) is currently 13.33%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DBRG. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of DigitalBridge Group by 5.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 392,094 shares of the company’s stock valued at $3,458,000 after purchasing an additional 21,930 shares in the last quarter. Clearline Capital LP grew its stake in shares of DigitalBridge Group by 189.8% during the 1st quarter. Clearline Capital LP now owns 2,286,782 shares of the company’s stock worth $20,169,000 after acquiring an additional 1,497,664 shares in the last quarter. Caxton Associates LLP acquired a new stake in DigitalBridge Group in the 1st quarter valued at $347,000. Goldman Sachs Group Inc. boosted its position in DigitalBridge Group by 45.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,225,993 shares of the company’s stock valued at $19,633,000 after purchasing an additional 693,613 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in DigitalBridge Group by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,556 shares of the company’s stock worth $834,000 after acquiring an additional 4,122 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

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.