Fmr LLC Trims Stake in DigitalBridge Group, Inc. (NYSE:DBRG)

FMR LLC reduced its stake in DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 14.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,384,371 shares of the company's stock after selling 230,433 shares during the period. FMR LLC owned 0.79% of DigitalBridge Group worth $19,561,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings in DigitalBridge Group by 4.1% in the second quarter. Victory Capital Management Inc. now owns 22,165 shares of the company's stock worth $304,000 after acquiring an additional 870 shares in the last quarter. Arizona State Retirement System increased its stake in DigitalBridge Group by 1.9% during the 2nd 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 stake 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 worth $401,000 after buying 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 during the last quarter. Finally, nVerses Capital LLC increased its position in shares of 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 acquiring an additional 1,900 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on DBRG. Keefe, Bruyette & Woods downgraded DigitalBridge Group from an "outperform" rating to a "market perform" rating and cut their target price for the company from $17.75 to $14.00 in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of DigitalBridge Group from $17.00 to $16.00 and set a "buy" rating for the company in a research note on Thursday, August 15th. Wells Fargo & Company dropped their price target on DigitalBridge Group from $18.00 to $16.00 and set an "overweight" rating on the stock in a research note on Monday, November 4th. Truist Financial lowered their target price on DigitalBridge Group from $17.00 to $15.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Raymond James dropped their price objective on shares of DigitalBridge Group from $19.00 to $16.00 and set a "strong-buy" rating on the stock in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $17.88.

DigitalBridge Group Price Performance

Shares of NYSE:DBRG traded up $0.15 during trading on Wednesday, hitting $12.65. 1,690,027 shares of the company's stock were exchanged, compared to its average volume of 2,356,037. The business's 50-day simple moving average is $13.98 and its 200 day simple moving average is $13.48. DigitalBridge Group, Inc. has a 52-week low of $11.07 and a 52-week high of $20.99. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 14.43 and a beta of 1.89.

DigitalBridge Group Announces Dividend

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 $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Tuesday, December 31st. DigitalBridge Group's payout ratio is 5.48%.

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.