Short Interest in DigitalBridge Group, Inc. (NYSE:DBRG) Declines By 9.0%

DigitalBridge Group, Inc. (NYSE:DBRG) was the recipient of a large drop in short interest in November. As of November 15th, there was short interest totalling 15,360,000 shares, a drop of 9.0% from the October 31st total of 16,870,000 shares. Currently, 8.9% of the company’s stock are short sold. Based on an average trading volume of 3,020,000 shares, the days-to-cover ratio is presently 5.1 days.

Institutional Investors Weigh In On DigitalBridge Group

Institutional investors have recently modified their holdings of the company. Franklin Resources Inc. grew its stake in DigitalBridge Group by 33.6% in the 3rd quarter. Franklin Resources Inc. now owns 180,369 shares of the company’s stock valued at $2,792,000 after acquiring an additional 45,333 shares during the last quarter. Tidal Investments LLC grew its position in shares of DigitalBridge Group by 22.8% in the third quarter. Tidal Investments LLC now owns 99,995 shares of the company’s stock valued at $1,413,000 after purchasing an additional 18,536 shares during the last quarter. Sanctuary Advisors LLC increased its stake in shares of DigitalBridge Group by 10.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 219,342 shares of the company’s stock worth $3,099,000 after purchasing an additional 20,486 shares in the last quarter. Geode Capital Management LLC raised its position in shares of DigitalBridge Group by 8.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,167,413 shares of the company’s stock worth $58,895,000 after purchasing an additional 317,776 shares during the last quarter. Finally, Barclays PLC grew its holdings in DigitalBridge Group by 364.3% during the 3rd quarter. Barclays PLC now owns 268,326 shares of the company’s stock valued at $3,792,000 after buying an additional 210,533 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Price Performance

DigitalBridge Group stock opened at $13.13 on Wednesday. The stock’s 50 day moving average price is $14.14 and its 200 day moving average price is $13.50. The company has a market cap of $2.29 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 14.92 and a beta of 1.89. DigitalBridge Group has a 1-year low of $11.07 and a 1-year high of $20.99.

DigitalBridge Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.30%. The ex-dividend date is Tuesday, December 31st. DigitalBridge Group’s dividend payout ratio (DPR) is 5.48%.

Analyst Ratings Changes

DBRG has been the subject of a number of research reports. Raymond James reduced their price objective on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a research note on Tuesday, November 5th. Keefe, Bruyette & Woods cut shares of DigitalBridge Group from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $17.75 to $14.00 in a research note on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Truist Financial lowered their price target on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. increased their price objective on DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, DigitalBridge Group has a consensus rating of “Buy” and a consensus target price of $18.13.

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.