Ethic Inc. Decreases Stake in DigitalBridge Group, Inc. (NYSE:DBRG)

Ethic Inc. lowered its stake in DigitalBridge Group, Inc. (NYSE:DBRG) by 10.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,401 shares of the company’s stock after selling 1,373 shares during the period. Ethic Inc.’s holdings in DigitalBridge Group were worth $129,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in DBRG. Barclays PLC increased its stake in shares of DigitalBridge Group by 364.3% in the third quarter. Barclays PLC now owns 268,326 shares of the company’s stock worth $3,792,000 after acquiring an additional 210,533 shares during the period. Kingswood Wealth Advisors LLC acquired a new stake in shares of DigitalBridge Group in the fourth quarter worth $201,000. Blue Trust Inc. increased its stake in shares of DigitalBridge Group by 164.0% in the fourth quarter. Blue Trust Inc. now owns 9,905 shares of the company’s stock worth $112,000 after acquiring an additional 6,153 shares during the period. KBC Group NV increased its stake in shares of DigitalBridge Group by 49.3% in the fourth quarter. KBC Group NV now owns 8,326 shares of the company’s stock worth $94,000 after acquiring an additional 2,750 shares during the period. Finally, Pacer Advisors Inc. increased its stake in shares of DigitalBridge Group by 26.7% in the fourth quarter. Pacer Advisors Inc. now owns 1,392,199 shares of the company’s stock worth $15,704,000 after acquiring an additional 293,317 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

DBRG has been the topic of a number of research reports. JPMorgan Chase & Co. cut their price objective on shares of DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. Wells Fargo & Company increased their price objective on shares of DigitalBridge Group from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. JMP Securities reiterated a “market outperform” rating and issued a $16.00 price objective on shares of DigitalBridge Group in a research note on Friday. Keefe, Bruyette & Woods dropped their price target on shares of DigitalBridge Group from $13.50 to $10.50 and set a “market perform” rating on the stock in a research report on Tuesday, May 6th. Finally, Truist Financial dropped their price target on shares of DigitalBridge Group from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, DigitalBridge Group has an average rating of “Buy” and an average price target of $16.06.

DigitalBridge Group Stock Performance

DBRG stock opened at $12.01 on Monday. The firm has a market cap of $2.10 billion, a PE ratio of 400.37, a P/E/G ratio of 3.46 and a beta of 1.58. The firm’s fifty day moving average is $8.68 and its 200 day moving average is $10.52. DigitalBridge Group, Inc. has a one year low of $6.41 and a one year high of $17.33.

DigitalBridge Group (NYSE:DBRG) last announced its earnings results on Thursday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.03. DigitalBridge Group had a net margin of 10.98% and a return on equity of 4.29%. The business had revenue of $101.55 million for the quarter, compared to analyst estimates of $93.01 million. Research analysts predict that DigitalBridge Group, Inc. will post 0.17 earnings per share for the current fiscal year.

DigitalBridge Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a $0.01 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.33%. DigitalBridge Group’s dividend payout ratio (DPR) is 13.33%.

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.