Iridian Asset Management LLC CT Has $5.48 Million Position in DigitalBridge Group, Inc. (NYSE:DBRG)

Iridian Asset Management LLC CT grew its holdings in DigitalBridge Group, Inc. (NYSE:DBRG) by 19.3% in the third quarter, Holdings Channel.com reports. The firm owned 387,827 shares of the company’s stock after purchasing an additional 62,731 shares during the period. DigitalBridge Group comprises approximately 1.2% of Iridian Asset Management LLC CT’s investment portfolio, making the stock its 22nd largest position. Iridian Asset Management LLC CT’s holdings in DigitalBridge Group were worth $5,480,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. nVerses Capital LLC lifted its stake in DigitalBridge Group by 633.3% in the 2nd quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock worth $30,000 after acquiring an additional 1,900 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of DigitalBridge Group in the third quarter worth approximately $35,000. Blue Trust Inc. boosted its holdings in shares of DigitalBridge Group by 179.2% during the third quarter. Blue Trust Inc. now owns 3,752 shares of the company’s stock worth $51,000 after purchasing an additional 2,408 shares during the period. Headlands Technologies LLC grew its position in DigitalBridge Group by 33,627.3% during the second quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock valued at $102,000 after purchasing an additional 7,398 shares in the last quarter. Finally, Xponance Inc. acquired a new position in DigitalBridge Group in the 2nd quarter valued at approximately $138,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DBRG. Raymond James decreased their target price on shares of DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating for the company in a research note on Thursday, August 8th. Truist Financial lowered their target price on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Wells Fargo & Company cut their price target on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. B. Riley lowered their price target on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft cut 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 report on Thursday, August 15th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, DigitalBridge Group has a consensus rating of “Buy” and an average target price of $19.22.

DigitalBridge Group Stock Performance

Shares of DBRG stock opened at $16.13 on Thursday. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 7.57, a PEG ratio of 2.97 and a beta of 1.95. The stock’s 50 day simple moving average is $14.24 and its 200 day simple moving average is $14.02. DigitalBridge Group, Inc. has a twelve month low of $11.07 and a twelve month 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 for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The firm had revenue of $390.34 million during the quarter, compared to analyst estimates of $97.05 million. DigitalBridge Group had a return on equity of 4.49% and a net margin of 35.10%. On average, analysts forecast that DigitalBridge Group, Inc. will post 0.16 EPS for the current fiscal year.

DigitalBridge Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend was Monday, September 30th. DigitalBridge Group’s dividend payout ratio is 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.