Shares of DigitalBridge Group, Inc. (NYSE:DBRG – Get Free Report) reached a new 52-week low on Thursday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $17.00 to $16.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. DigitalBridge Group traded as low as $12.09 and last traded at $12.20, with a volume of 963544 shares. The stock had previously closed at $12.23.
A number of other research firms have also recently commented on DBRG. Raymond James cut their target price on DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. reduced their price objective on DigitalBridge Group from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Truist Financial lowered their target price on shares of DigitalBridge Group from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $19.00 price target on shares of DigitalBridge Group in a research report on Wednesday, July 3rd. Finally, Wells Fargo & Company lowered their price objective on shares of DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, DigitalBridge Group has an average rating of “Buy” and an average price target of $19.47.
Institutional Trading of DigitalBridge Group
Several hedge funds have recently made changes to their positions in the company. Massachusetts Financial Services Co. MA acquired a new position in shares of DigitalBridge Group during the second quarter worth about $39,033,000. Norges Bank acquired a new position in DigitalBridge Group during the 4th quarter worth approximately $31,651,000. New South Capital Management Inc. raised its stake in shares of DigitalBridge Group by 40.1% during the 2nd quarter. New South Capital Management Inc. now owns 3,929,762 shares of the company’s stock worth $53,838,000 after buying an additional 1,125,549 shares in the last quarter. Wafra Inc. lifted its holdings in shares of DigitalBridge Group by 7.1% in the 2nd quarter. Wafra Inc. now owns 15,455,808 shares of the company’s stock valued at $211,745,000 after buying an additional 1,020,409 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of DigitalBridge Group by 54.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,686,145 shares of the company’s stock valued at $36,797,000 after buying an additional 952,408 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.
DigitalBridge Group Stock Down 0.2 %
The stock has a fifty day moving average of $13.26 and a two-hundred day moving average of $15.88. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 7.87, a price-to-earnings-growth ratio of 1.38 and a beta of 2.00.
DigitalBridge Group Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.33%. DigitalBridge Group’s dividend payout ratio (DPR) is presently 2.58%.
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.