DigitalBridge Group, Inc. (NYSE:DBRG) Sees Large Drop in Short Interest

DigitalBridge Group, Inc. (NYSE:DBRG - Get Free Report) saw a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 14,280,000 shares, a drop of 7.0% from the November 15th total of 15,360,000 shares. Currently, 8.3% of the shares of the stock are sold short. Based on an average trading volume of 3,000,000 shares, the short-interest ratio is presently 4.8 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its position in shares of DigitalBridge Group by 245.0% during the second quarter. SG Americas Securities LLC now owns 50,360 shares of the company's stock worth $690,000 after purchasing an additional 35,761 shares in the last quarter. Spirit of America Management Corp NY grew its holdings in shares of DigitalBridge Group by 2,233.3% in the 2nd quarter. Spirit of America Management Corp NY now owns 35,000 shares of the company's stock worth $480,000 after acquiring an additional 33,500 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of DigitalBridge Group by 9.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 910,386 shares of the company's stock worth $12,472,000 after acquiring an additional 79,858 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in DigitalBridge Group by 3.2% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 112,282 shares of the company's stock valued at $1,538,000 after buying an additional 3,441 shares during the last quarter. Finally, Iridian Asset Management LLC CT grew its holdings in DigitalBridge Group by 2.0% during the 2nd quarter. Iridian Asset Management LLC CT now owns 325,096 shares of the company's stock valued at $4,454,000 after buying an additional 6,368 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

DigitalBridge Group Stock Performance

NYSE:DBRG traded down $0.21 during mid-day trading on Monday, hitting $12.05. 2,128,578 shares of the company's stock traded hands, compared to its average volume of 2,345,771. The company has a fifty day moving average of $13.84 and a 200 day moving average of $13.47. The company has a market capitalization of $2.10 billion, a P/E ratio of 16.78, a P/E/G ratio of 14.21 and a beta of 1.89. DigitalBridge Group has a twelve month low of $11.07 and a twelve month high of $20.99.

DigitalBridge Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.01 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.33%. DigitalBridge Group's payout ratio is currently 5.48%.

Wall Street Analyst Weigh In

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

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.

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