DigitalBridge Group (NYSE:DBRG) Shares Down 3.5% – Time to Sell?

DigitalBridge Group, Inc. (NYSE:DBRG) fell 3.5% during mid-day trading on Tuesday . The company traded as low as $11.26 and last traded at $11.18. 1,030,803 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 2,552,503 shares. The stock had previously closed at $11.59.

Analyst Ratings Changes

A number of analysts recently weighed in on DBRG shares. Citizens Jmp raised shares of DigitalBridge Group to a “strong-buy” rating in a research note on Monday, January 27th. JMP Securities reaffirmed a “market outperform” rating and issued a $16.00 price target on shares of DigitalBridge Group in a research report on Friday. Wells Fargo & Company boosted their price objective on shares of DigitalBridge Group from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Truist Financial cut their price target on DigitalBridge Group from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. Finally, Keefe, Bruyette & Woods cut their target price on DigitalBridge Group from $13.50 to $10.50 and set a “market perform” rating on the stock in a research note on Tuesday, May 6th. One 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $16.06.

DigitalBridge Group Stock Performance

The company has a 50 day moving average of $8.72 and a two-hundred day moving average of $10.50. The stock has a market cap of $1.97 billion, a PE ratio of 375.33, a price-to-earnings-growth ratio of 3.46 and a beta of 1.58.

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

DigitalBridge Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.36%. DigitalBridge Group’s dividend payout ratio is presently 13.33%.

Institutional Investors Weigh In On DigitalBridge Group

A number of hedge funds have recently added to or reduced their stakes in DBRG. Lazard Asset Management LLC boosted its stake in DigitalBridge Group by 384.5% in the fourth quarter. Lazard Asset Management LLC now owns 3,346,966 shares of the company’s stock valued at $37,753,000 after acquiring an additional 2,656,100 shares in the last quarter. Northern Trust Corp increased its stake in shares of DigitalBridge Group by 1.8% during the 4th quarter. Northern Trust Corp now owns 1,522,539 shares of the company’s stock worth $17,174,000 after purchasing an additional 26,930 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in DigitalBridge Group by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,030,657 shares of the company’s stock valued at $34,186,000 after purchasing an additional 99,891 shares in the last quarter. Barclays PLC grew its stake in DigitalBridge Group by 364.3% in the 3rd quarter. Barclays PLC now owns 268,326 shares of the company’s stock worth $3,792,000 after acquiring an additional 210,533 shares during the period. Finally, Horizon Kinetics Asset Management LLC increased its stake 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 valued at $50,572,000 after purchasing an additional 4,020,627 shares during the last quarter. 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.