DigitalBridge Group (NYSE:DBRG) Reaches New 52-Week Low – Time to Sell?

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $8.77 and last traded at $8.92, with a volume of 607568 shares traded. The stock had previously closed at $9.14.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of DigitalBridge Group from $15.00 to $16.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. 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 target on the stock. Keefe, Bruyette & Woods reduced their price objective on DigitalBridge Group from $14.00 to $13.50 and set a “market perform” rating for the company in a research note on Wednesday, February 26th. B. Riley decreased their target price on DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. 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 issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $16.39.

DigitalBridge Group Stock Down 2.9 %

The stock has a market capitalization of $1.55 billion, a P/E ratio of 295.83, a PEG ratio of 3.46 and a beta of 1.91. The company has a fifty day moving average price of $10.45 and a 200-day moving average price of $12.22.

DigitalBridge Group (NYSE:DBRG) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.03. The business had revenue of $101.55 million during the quarter, compared to analysts’ expectations of $93.01 million. DigitalBridge Group had a return on equity of 4.29% and a net margin of 10.98%. As a group, research analysts expect that DigitalBridge Group, Inc. will post 0.17 earnings per share for the current fiscal year.

DigitalBridge Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Monday, March 31st. DigitalBridge Group’s dividend payout ratio is presently 133.33%.

Hedge Funds Weigh In On DigitalBridge Group

Several institutional investors have recently bought and sold shares of the business. Frontier Capital Management Co. LLC raised its position in shares of DigitalBridge Group by 28.0% during the 4th quarter. Frontier Capital Management Co. LLC now owns 5,575,225 shares of the company’s stock valued at $62,889,000 after buying an additional 1,218,901 shares in the last quarter. Horizon Kinetics Asset Management LLC lifted its stake in shares of DigitalBridge Group by 868.9% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 4,483,340 shares of the company’s stock valued at $50,572,000 after purchasing an additional 4,020,627 shares during the last quarter. State Street Corp boosted its holdings in shares of DigitalBridge Group by 12.0% in the 3rd quarter. State Street Corp now owns 4,427,379 shares of the company’s stock worth $62,603,000 after purchasing an additional 474,101 shares during the period. Geode Capital Management LLC boosted its holdings in shares of DigitalBridge Group by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,167,413 shares of the company’s stock worth $58,895,000 after purchasing an additional 317,776 shares during the period. Finally, New South Capital Management Inc. increased its position in shares of DigitalBridge Group by 2.9% during the 4th quarter. New South Capital Management Inc. now owns 4,055,232 shares of the company’s stock valued at $45,743,000 after purchasing an additional 115,029 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

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.