DigitalBridge Group (NYSE:DBRG) Sets New 12-Month Low – Time to Sell?

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 $10.60 and last traded at $10.91, with a volume of 1478836 shares traded. The stock had previously closed at $10.79.

Wall Street Analyst Weigh In

DBRG has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price target on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. JPMorgan Chase & Co. boosted their price target on shares of DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Truist Financial lowered their price objective on shares of DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Keefe, Bruyette & Woods downgraded DigitalBridge Group from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $17.75 to $14.00 in a research report on Wednesday, November 6th. Finally, Raymond James lowered their price target on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $17.88.

DigitalBridge Group Stock Down 0.5 %

The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 14.86, a price-to-earnings-growth ratio of 13.76 and a beta of 1.89. The business has a 50-day moving average price of $13.12 and a 200-day moving average price of $13.33.

DigitalBridge Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend is Tuesday, December 31st. DigitalBridge Group’s dividend payout ratio is presently 5.48%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in DigitalBridge Group by 4.1% in the 2nd quarter. Victory Capital Management Inc. now owns 22,165 shares of the company’s stock worth $304,000 after purchasing an additional 870 shares during the period. Arizona State Retirement System lifted its holdings in shares of DigitalBridge Group by 1.9% in the second quarter. Arizona State Retirement System now owns 45,735 shares of the company’s stock valued at $627,000 after purchasing an additional 872 shares in the last quarter. Fulton Bank N.A. lifted its holdings in shares of DigitalBridge Group by 3.2% in the third quarter. Fulton Bank N.A. now owns 28,372 shares of the company’s stock valued at $401,000 after purchasing an additional 878 shares in the last quarter. King Luther Capital Management Corp grew its holdings in shares of DigitalBridge Group by 1.3% during the second quarter. King Luther Capital Management Corp now owns 71,038 shares of the company’s stock valued at $973,000 after buying an additional 942 shares in the last quarter. Finally, nVerses Capital LLC raised its position in DigitalBridge Group by 633.3% during the second quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock valued at $30,000 after buying an additional 1,900 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

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.