Edgestream Partners L.P. purchased a new position in shares of DigitalBridge Group, Inc. (NYSE:DBRG – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 103,658 shares of the company’s stock, valued at approximately $1,525,000.
A number of other institutional investors have also recently bought and sold shares of the business. Boston Partners acquired a new stake in DigitalBridge Group during the second quarter worth $493,000. Quadrant Capital Group LLC boosted its stake in DigitalBridge Group by 23.6% during the second quarter. Quadrant Capital Group LLC now owns 4,998 shares of the company’s stock worth $74,000 after buying an additional 955 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of DigitalBridge Group by 4.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,481,581 shares of the company’s stock valued at $21,794,000 after purchasing an additional 69,487 shares in the last quarter. Citigroup Inc. boosted its stake in shares of DigitalBridge Group by 41.6% in the 2nd quarter. Citigroup Inc. now owns 87,136 shares of the company’s stock valued at $1,282,000 after purchasing an additional 25,603 shares in the last quarter. Finally, Cannell & Co. acquired a new stake in shares of DigitalBridge Group in the 2nd quarter valued at $1,003,000. Institutional investors and hedge funds own 90.43% of the company’s stock.
Analyst Upgrades and Downgrades
DBRG has been the topic of several recent analyst reports. Raymond James reduced their target price on shares of DigitalBridge Group from $25.00 to $24.00 and set a “strong-buy” rating on the stock in a research note on Thursday, November 2nd. JPMorgan Chase & Co. upgraded shares of DigitalBridge Group from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $19.00 to $25.00 in a research note on Thursday, September 28th. TheStreet upgraded shares of DigitalBridge Group from a “d” rating to a “c-” rating in a research note on Wednesday, November 1st. Royal Bank of Canada boosted their target price on shares of DigitalBridge Group from $14.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday, August 14th. Finally, Truist Financial reduced their target price on shares of DigitalBridge Group from $35.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, September 20th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $21.94.
DigitalBridge Group Trading Down 0.9 %
Shares of NYSE:DBRG opened at $16.56 on Tuesday. The stock has a market capitalization of $2.71 billion, a P/E ratio of -78.83 and a beta of 2.06. DigitalBridge Group, Inc. has a 1-year low of $9.99 and a 1-year high of $18.43. The business has a 50-day moving average price of $16.42 and a two-hundred day moving average price of $15.28.
DigitalBridge Group Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Sunday, December 31st will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.04 annualized dividend and a yield of 0.24%. DigitalBridge Group’s dividend payout ratio is currently -19.05%.
DigitalBridge Group Profile
DigitalBridge (NYSE: DBRG) is a leading global digital infrastructure firm. With a heritage of over 25 years investing in and operating businesses across the digital ecosystem including cell towers, data centers, fiber, small cells, and edge infrastructure, the DigitalBridge team manages a $69 billion portfolio of digital infrastructure assets on behalf of its limited partners and shareholders.
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