Los Angeles Capital Management LLC Takes Position in DigitalBridge Group, Inc. (NYSE:DBRG)

Los Angeles Capital Management LLC bought a new position in DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm bought 89,729 shares of the company's stock, valued at approximately $1,268,000. Los Angeles Capital Management LLC owned approximately 0.05% of DigitalBridge Group as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of DBRG. DekaBank Deutsche Girozentrale purchased a new position in DigitalBridge Group in the 1st quarter valued at approximately $1,247,000. Sei Investments Co. raised its stake in shares of DigitalBridge Group by 77.9% during the 1st quarter. Sei Investments Co. now owns 302,856 shares of the company's stock valued at $5,836,000 after purchasing an additional 132,638 shares during the period. Manning & Napier Advisors LLC purchased a new stake in shares of DigitalBridge Group in the second quarter worth about $3,234,000. Comerica Bank boosted its position in shares of DigitalBridge Group by 2,778.9% in the first quarter. Comerica Bank now owns 154,279 shares of the company's stock valued at $2,973,000 after acquiring an additional 148,920 shares during the period. Finally, Tidal Investments LLC grew its stake in DigitalBridge Group by 377.2% during the first quarter. Tidal Investments LLC now owns 58,692 shares of the company's stock valued at $1,131,000 after acquiring an additional 46,392 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

DigitalBridge Group Stock Up 0.1 %

Shares of NYSE DBRG traded up $0.01 during trading hours on Friday, reaching $12.55. 1,213,294 shares of the stock traded hands, compared to its average volume of 2,330,065. The company has a market capitalization of $2.19 billion, a P/E ratio of 17.14, a price-to-earnings-growth ratio of 2.20 and a beta of 1.94. The company's 50-day simple moving average is $14.35 and its two-hundred day simple moving average is $13.71. DigitalBridge Group, Inc. has a 52-week low of $11.07 and a 52-week high of $20.99.

DigitalBridge Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.32%. DigitalBridge Group's payout ratio is 5.48%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of DigitalBridge Group from $17.00 to $16.00 and set a "buy" rating for the company in a report on Thursday, August 15th. Keefe, Bruyette & Woods lowered DigitalBridge Group from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $17.75 to $14.00 in a research note on Wednesday, November 6th. Raymond James reduced their target price on 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. Wells Fargo & Company lowered their price target on DigitalBridge Group from $18.00 to $16.00 and set an "overweight" rating on the stock in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. boosted their price objective on DigitalBridge Group from $22.00 to $23.00 and gave the stock an "overweight" rating in a report on Tuesday, October 1st. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $18.13.

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.