Bank of America Corp DE Reduces Stock Holdings in DigitalBridge Group, Inc. (NYSE:DBRG)

Bank of America Corp DE reduced its position in shares of DigitalBridge Group, Inc. (NYSE:DBRG) by 4.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,126,838 shares of the company’s stock after selling 98,267 shares during the quarter. Bank of America Corp DE’s holdings in DigitalBridge Group were worth $23,991,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of DBRG. Barclays PLC grew its stake in shares of DigitalBridge Group by 364.3% in 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 period. Kingswood Wealth Advisors LLC purchased a new stake in DigitalBridge Group in the fourth quarter valued at approximately $201,000. Blue Trust Inc. lifted its stake in DigitalBridge Group by 164.0% during the fourth quarter. Blue Trust Inc. now owns 9,905 shares of the company’s stock worth $112,000 after purchasing an additional 6,153 shares in the last quarter. KBC Group NV boosted its position in shares of DigitalBridge Group by 49.3% during the fourth quarter. KBC Group NV now owns 8,326 shares of the company’s stock worth $94,000 after buying an additional 2,750 shares during the period. Finally, Pacer Advisors Inc. grew 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 valued at $15,704,000 after buying an additional 293,317 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on DBRG. Citizens Jmp raised DigitalBridge Group to a “strong-buy” rating in a research note on Monday, January 27th. Wells Fargo & Company boosted their price target 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 reissued a “market outperform” rating and issued a $16.00 price objective on shares of DigitalBridge Group in a research note on Friday. Truist Financial dropped their price objective on DigitalBridge Group from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. Finally, Keefe, Bruyette & Woods decreased their target price on DigitalBridge Group from $13.50 to $10.50 and set a “market perform” rating for the company in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $16.06.

DigitalBridge Group Stock Up 1.5%

Shares of NYSE DBRG opened at $12.01 on Monday. The business has a 50-day moving average price of $8.68 and a 200 day moving average price of $10.52. The stock has a market cap of $2.10 billion, a PE ratio of 400.37, a price-to-earnings-growth ratio of 3.46 and a beta of 1.58. DigitalBridge Group, Inc. has a 52-week low of $6.41 and a 52-week high of $17.33.

DigitalBridge Group (NYSE:DBRG) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. The company had revenue of $101.55 million during the quarter, compared to analysts’ expectations of $93.01 million. DigitalBridge Group had a return on equity of 4.29% and a net margin of 10.98%. Sell-side analysts anticipate that DigitalBridge Group, Inc. will post 0.17 earnings per share for the current year.

DigitalBridge Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors 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 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.