DigitalBridge Group (NYSE:DBRG) Reaches New 52-Week Low – What’s Next?

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $6.41 and last traded at $6.61, with a volume of 1027691 shares. The stock had previously closed at $6.80.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DBRG. Truist Financial decreased their price objective on DigitalBridge Group from $15.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, March 25th. Wells Fargo & Company increased their price target on DigitalBridge Group from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. JPMorgan Chase & Co. dropped 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. JMP Securities initiated coverage on shares of DigitalBridge Group in a research report on Monday, January 27th. They issued an “outperform” rating and a $16.00 price objective for the company. Finally, B. Riley lowered their target price on shares of DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $16.39.

DigitalBridge Group Stock Performance

The company has a market cap of $1.33 billion, a price-to-earnings ratio of 254.50, a P/E/G ratio of 3.46 and a beta of 1.68. The company’s fifty day moving average is $9.74 and its two-hundred day moving average is $11.75.

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

DigitalBridge Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.52%. DigitalBridge Group’s payout ratio is currently 133.33%.

Institutional Trading of DigitalBridge Group

A number of hedge funds have recently modified their holdings of the stock. Fulton Bank N.A. lifted its holdings in DigitalBridge Group by 5.2% in the first quarter. Fulton Bank N.A. now owns 35,194 shares of the company’s stock valued at $310,000 after acquiring an additional 1,752 shares during the period. Lind Value II ApS purchased a new position in shares of DigitalBridge Group during the 1st quarter valued at approximately $17,479,000. GAMMA Investing LLC lifted its stake in shares of DigitalBridge Group by 978.9% in the 1st quarter. GAMMA Investing LLC now owns 4,445 shares of the company’s stock valued at $39,000 after purchasing an additional 4,033 shares during the period. Moody National Bank Trust Division boosted its holdings in DigitalBridge Group by 23.7% during the first quarter. Moody National Bank Trust Division now owns 56,984 shares of the company’s stock worth $503,000 after buying an additional 10,900 shares in the last quarter. Finally, Central Pacific Bank Trust Division grew its position in DigitalBridge Group by 160.0% during the first quarter. Central Pacific Bank Trust Division now owns 6,500 shares of the company’s stock valued at $57,000 after buying an additional 4,000 shares during the period. Hedge funds and other 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.