Iridian Asset Management LLC CT increased its position in DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 19.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 387,827 shares of the company's stock after acquiring an additional 62,731 shares during the period. DigitalBridge Group comprises about 1.2% of Iridian Asset Management LLC CT's investment portfolio, making the stock its 22nd biggest holding. Iridian Asset Management LLC CT owned 0.22% of DigitalBridge Group worth $5,480,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of DBRG. nVerses Capital LLC raised its position in DigitalBridge Group by 633.3% in the second quarter. nVerses Capital LLC now owns 2,200 shares of the company's stock worth $30,000 after acquiring an additional 1,900 shares during the period. Central Pacific Bank Trust Division bought a new stake in DigitalBridge Group during the third quarter valued at about $35,000. Blue Trust Inc. increased its position in DigitalBridge Group by 179.2% in the third quarter. Blue Trust Inc. now owns 3,752 shares of the company's stock worth $51,000 after buying an additional 2,408 shares in the last quarter. Headlands Technologies LLC grew its stake in shares of DigitalBridge Group by 33,627.3% during the 2nd quarter. Headlands Technologies LLC now owns 7,420 shares of the company's stock valued at $102,000 after acquiring an additional 7,398 shares during the period. Finally, Xponance Inc. bought a new stake in DigitalBridge Group during the 2nd quarter worth approximately $138,000. Hedge funds and other institutional investors own 92.69% of the company's stock.
Analysts Set New Price Targets
A number of research analysts recently commented on the company. Wells Fargo & Company lowered their price target on DigitalBridge Group from $20.00 to $18.00 and set an "overweight" rating on the stock in a report on Tuesday, August 6th. JPMorgan Chase & Co. boosted their target price on DigitalBridge Group from $22.00 to $23.00 and gave the company an "overweight" rating in a research report on Tuesday, October 1st. B. Riley lowered their price target on DigitalBridge Group from $27.00 to $24.00 and set a "buy" rating for the company in a research report on Tuesday, July 9th. Truist Financial dropped their price objective on shares of DigitalBridge Group from $19.00 to $17.00 and set a "buy" rating for the company in a research note on Wednesday, August 21st. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $19.00 target price on shares of DigitalBridge Group in a report on Wednesday, July 3rd. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $19.22.
Read Our Latest Research Report on DigitalBridge Group
DigitalBridge Group Price Performance
NYSE DBRG traded down $0.44 during midday trading on Thursday, hitting $15.69. 2,752,546 shares of the company traded hands, compared to its average volume of 2,278,124. DigitalBridge Group, Inc. has a 52 week low of $11.07 and a 52 week high of $20.99. The company's 50-day simple moving average is $14.31 and its 200-day simple moving average is $14.04. The company has a market cap of $2.73 billion, a PE ratio of 7.37, a price-to-earnings-growth ratio of 2.97 and a beta of 1.95.
DigitalBridge Group (NYSE:DBRG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.06). DigitalBridge Group had a net margin of 35.10% and a return on equity of 4.49%. The company had revenue of $390.34 million for the quarter, compared to the consensus estimate of $97.05 million. On average, research analysts predict that DigitalBridge Group, Inc. will post 0.16 earnings per share for the current year.
DigitalBridge Group Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.25%. The ex-dividend date was Monday, September 30th. DigitalBridge Group's dividend payout ratio is currently 1.88%.
About DigitalBridge Group
(
Free Report)
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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