DigitalBridge Group (NYSE:DBRG) Reaches New 12-Month Low – What’s Next?

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DBRG. JMP Securities assumed coverage on shares of DigitalBridge Group in a research report on Monday, January 27th. They set an “outperform” rating and a $16.00 target price on the stock. Citizens Jmp raised DigitalBridge Group to a “strong-buy” rating in a research note on Monday, January 27th. Truist Financial dropped their price objective on DigitalBridge Group from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday. B. Riley decreased their target price on shares of DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of DigitalBridge Group from $14.00 to $13.50 and set a “market perform” rating on the stock in a research report on Wednesday, February 26th. One analyst has rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $16.39.

DigitalBridge Group Price Performance

The company has a 50-day moving average of $10.50 and a two-hundred day moving average of $12.24. The stock has a market capitalization of $1.54 billion, a PE ratio of 294.17, a P/E/G ratio of 3.46 and a beta of 1.91.

DigitalBridge Group (NYSE:DBRG) last issued its earnings results on Thursday, February 20th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. The firm had revenue of $101.55 million for 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%. On average, research analysts forecast that DigitalBridge Group, Inc. will post 0.17 EPS for the current fiscal year.

DigitalBridge Group Announces Dividend

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

Hedge Funds Weigh In On DigitalBridge Group

Several hedge funds and other institutional investors have recently made changes to their positions in DBRG. Frontier Capital Management Co. LLC increased its stake in 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 worth $62,889,000 after buying an additional 1,218,901 shares during the period. Horizon Kinetics Asset Management LLC boosted its holdings in DigitalBridge Group by 868.9% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 4,483,340 shares of the company’s stock worth $50,572,000 after purchasing an additional 4,020,627 shares during the period. State Street Corp raised its holdings in shares of DigitalBridge Group by 12.0% during the third 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 lifted its position 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 buying an additional 317,776 shares during the last quarter. Finally, New South Capital Management Inc. lifted its position in shares of DigitalBridge Group by 2.9% in the 4th quarter. New South Capital Management Inc. now owns 4,055,232 shares of the company’s stock worth $45,743,000 after buying an additional 115,029 shares during the last quarter. Institutional investors and hedge funds 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.