Private Management Group Inc. Buys 38,768 Shares of DigitalBridge Group, Inc. (NYSE:DBRG)

Private Management Group Inc. raised its stake in DigitalBridge Group, Inc. (NYSE:DBRG) by 2.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,419,710 shares of the company’s stock after acquiring an additional 38,768 shares during the quarter. Private Management Group Inc. owned about 0.82% of DigitalBridge Group worth $20,061,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DBRG. Massachusetts Financial Services Co. MA bought a new position in shares of DigitalBridge Group during the second quarter worth approximately $39,033,000. New South Capital Management Inc. increased its position in DigitalBridge Group by 40.1% during the 2nd quarter. New South Capital Management Inc. now owns 3,929,762 shares of the company’s stock worth $53,838,000 after buying an additional 1,125,549 shares during the period. Wafra Inc. increased its position in DigitalBridge Group by 7.1% during the 2nd quarter. Wafra Inc. now owns 15,455,808 shares of the company’s stock worth $211,745,000 after buying an additional 1,020,409 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of DigitalBridge Group by 54.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,686,145 shares of the company’s stock valued at $36,797,000 after acquiring an additional 952,408 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its stake in shares of DigitalBridge Group by 125.4% in the second quarter. Point72 Asset Management L.P. now owns 1,629,197 shares of the company’s stock valued at $22,320,000 after acquiring an additional 906,297 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on DBRG. Truist Financial cut their price objective on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. JPMorgan Chase & Co. raised their price objective on DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. B. Riley dropped their price objective on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Wells Fargo & Company reduced their target price on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Finally, Raymond James reduced their price objective 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. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $19.22.

DigitalBridge Group Stock Performance

Shares of DBRG stock traded down $2.28 during mid-day trading on Friday, hitting $13.41. The company’s stock had a trading volume of 10,255,148 shares, compared to its average volume of 2,315,749. The company has a market cap of $2.33 billion, a PE ratio of 6.30, a P/E/G ratio of 2.84 and a beta of 1.95. The company’s fifty day simple moving average is $14.33 and its 200-day simple moving average is $14.00. DigitalBridge Group, Inc. has a 52 week low of $11.07 and a 52 week high of $20.99.

DigitalBridge Group (NYSE:DBRG) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.01 earnings per share (EPS) 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 business had revenue of $390.34 million for the quarter, compared to analyst estimates of $97.05 million. On average, equities analysts anticipate that DigitalBridge Group, Inc. will post 0.16 earnings per share for the current year.

DigitalBridge Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.01 per share. The ex-dividend date was Monday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.30%. DigitalBridge Group’s dividend payout ratio (DPR) is currently 1.88%.

DigitalBridge Group 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.