DigitalBridge Group (NYSE:DBRG) Trading Up 11.6% on Earnings Beat

DigitalBridge Group, Inc. (NYSE:DBRG) was up 11.6% during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $12.09 and last traded at $12.00. Approximately 1,164,298 shares were traded during trading, a decline of 46% from the average daily volume of 2,147,720 shares. The stock had previously closed at $10.75.

The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. DigitalBridge Group had a net margin of 21.42% and a return on equity of 3.58%. The firm had revenue of $101.55 million for the quarter, compared to the consensus estimate of $93.01 million.

DigitalBridge Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.01 per share. The ex-dividend date is Monday, March 31st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.33%. DigitalBridge Group’s dividend payout ratio is presently 133.33%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on DBRG shares. Raymond James dropped their price objective on shares of DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, November 5th. Citizens Jmp raised shares of DigitalBridge Group to a “strong-buy” rating in a research report on Monday, January 27th. B. Riley decreased their target price on shares of DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. JPMorgan Chase & Co. decreased their target price on shares of DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, January 21st. Finally, Truist Financial decreased their target price on shares of DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $16.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Frontier Capital Management Co. LLC raised its holdings in shares of DigitalBridge Group by 28.0% in the fourth quarter. Frontier Capital Management Co. LLC now owns 5,575,225 shares of the company’s stock worth $62,889,000 after buying an additional 1,218,901 shares during the last quarter. Horizon Kinetics Asset Management LLC raised its holdings in shares of DigitalBridge Group by 868.9% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 4,483,340 shares of the company’s stock worth $50,572,000 after buying an additional 4,020,627 shares during the last quarter. State Street Corp raised its holdings in shares of DigitalBridge Group by 12.0% in the third quarter. State Street Corp now owns 4,427,379 shares of the company’s stock worth $62,603,000 after buying an additional 474,101 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of DigitalBridge Group by 8.3% in the third quarter. Geode Capital Management LLC now owns 4,167,413 shares of the company’s stock worth $58,895,000 after buying an additional 317,776 shares during the last quarter. Finally, New South Capital Management Inc. raised its holdings in shares of DigitalBridge Group by 2.9% in the fourth quarter. New South Capital Management Inc. now owns 4,055,232 shares of the company’s stock worth $45,743,000 after buying an additional 115,029 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Price Performance

The stock’s fifty day simple moving average is $10.99 and its 200-day simple moving average is $12.62. The firm has a market cap of $2.12 billion, a PE ratio of 16.68, a PEG ratio of 3.04 and a beta of 1.91.

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.