17,846 Shares in DigitalBridge Group, Inc. (NYSE:DBRG) Bought by Cherry Creek Investment Advisors Inc.

Cherry Creek Investment Advisors Inc. purchased a new position in DigitalBridge Group, Inc. (NYSE:DBRG) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,846 shares of the company’s stock, valued at approximately $252,000.

A number of other hedge funds also recently modified their holdings of DBRG. Vanguard Group Inc. boosted its stake in DigitalBridge Group by 1.1% in the first quarter. Vanguard Group Inc. now owns 23,274,328 shares of the company’s stock valued at $448,496,000 after buying an additional 256,016 shares in the last quarter. Wafra Inc. boosted its stake in DigitalBridge Group by 7.1% in the second quarter. Wafra Inc. now owns 15,455,808 shares of the company’s stock valued at $211,745,000 after buying an additional 1,020,409 shares in the last quarter. New South Capital Management Inc. boosted its stake in DigitalBridge Group by 40.1% in the second quarter. New South Capital Management Inc. now owns 3,929,762 shares of the company’s stock valued at $53,838,000 after buying an additional 1,125,549 shares in the last quarter. Legion Partners Asset Management LLC boosted its stake in DigitalBridge Group by 3.3% in the second quarter. Legion Partners Asset Management LLC now owns 3,453,253 shares of the company’s stock valued at $47,310,000 after buying an additional 111,243 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in DigitalBridge Group in the second quarter valued at about $39,033,000. Institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Price Performance

DigitalBridge Group stock opened at $15.83 on Thursday. The stock’s 50 day moving average is $13.73 and its 200 day moving average is $14.08. The firm has a market cap of $2.75 billion, a P/E ratio of 10.21, a P/E/G ratio of 2.63 and a beta of 1.95. DigitalBridge Group, Inc. has a one year low of $11.07 and a one year high of $20.99.

DigitalBridge Group (NYSE:DBRG) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The company had revenue of $390.34 million during the quarter, compared to analyst estimates of $97.05 million. DigitalBridge Group had a return on equity of 4.49% and a net margin of 35.10%. Equities analysts anticipate that DigitalBridge Group, Inc. will post 0.16 earnings per share for the current fiscal year.

DigitalBridge Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date was Monday, September 30th. DigitalBridge Group’s dividend payout ratio is currently 2.58%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. B. Riley reduced their price objective on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. JPMorgan Chase & Co. raised their price objective on DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Raymond James cut their price target on DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating on the stock in a research note on Thursday, August 8th. Truist Financial cut their price target on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $19.00 price target on shares of DigitalBridge Group in a research note on Wednesday, July 3rd. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, DigitalBridge Group has an average rating of “Buy” and an average target price of $19.22.

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.