DigitalBridge Group (NYSE:DBRG) Trading Down 9.7% – Time to Sell?
by Danessa Lincoln · The Markets DailyShares of DigitalBridge Group, Inc. (NYSE:DBRG – Get Free Report) dropped 9.7% on Friday . The stock traded as low as $14.12 and last traded at $13.76. Approximately 2,194,296 shares changed hands during mid-day trading, a decline of 29% from the average daily volume of 3,077,552 shares. The stock had previously closed at $15.24.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on DBRG shares. TD Cowen increased their price objective on DigitalBridge Group from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Truist Financial raised their target price on shares of DigitalBridge Group from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. B. Riley raised DigitalBridge Group to a “strong-buy” rating in a research report on Thursday, October 30th. Wall Street Zen raised shares of DigitalBridge Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of DigitalBridge Group in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, DigitalBridge Group has a consensus rating of “Moderate Buy” and an average price target of $17.69.
Get Our Latest Stock Report on DBRG
DigitalBridge Group Price Performance
The stock has a market cap of $2.66 billion, a PE ratio of 242.26 and a beta of 1.77. The stock has a 50-day moving average price of $11.48 and a two-hundred day moving average price of $11.19.
DigitalBridge Group (NYSE:DBRG – Get Free Report) last announced its earnings results on Thursday, March 21st. The company reported ($0.07) EPS for the quarter. The company had revenue of $232.83 million during the quarter. DigitalBridge Group had a return on equity of 4.78% and a net margin of 18.57%. Equities research analysts expect that DigitalBridge Group, Inc. will post 0.17 earnings per share for the current year.
DigitalBridge Group Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Wednesday, December 31st will be paid a $0.01 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. DigitalBridge Group’s dividend payout ratio (DPR) is 66.67%.
Hedge Funds Weigh In On DigitalBridge Group
Several large investors have recently made changes to their positions in the company. US Bancorp DE increased its holdings in shares of DigitalBridge Group by 187.3% during the 1st quarter. US Bancorp DE now owns 6,265 shares of the company’s stock worth $55,000 after buying an additional 4,084 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in DigitalBridge Group during the 3rd quarter worth $84,000. NCM Capital Management LLC acquired a new stake in shares of DigitalBridge Group during the first quarter worth about $92,000. Captrust Financial Advisors purchased a new stake in DigitalBridge Group in the second quarter valued at approximately $109,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in DigitalBridge Group during the 2nd quarter worth $113,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.
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.
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