DigitalBridge Group, Inc. (NYSE:DBRG) Shares Sold by Rhumbline Advisers

Rhumbline Advisers decreased its position in DigitalBridge Group, Inc. (NYSE:DBRG) by 1.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 271,636 shares of the company’s stock after selling 4,507 shares during the quarter. Rhumbline Advisers owned about 0.16% of DigitalBridge Group worth $3,721,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB purchased a new stake in DigitalBridge Group in the 1st quarter valued at about $3,214,000. DekaBank Deutsche Girozentrale purchased a new stake in DigitalBridge Group in the 1st quarter valued at about $1,247,000. GRS Advisors LLC grew its holdings in DigitalBridge Group by 23.7% in the 4th quarter. GRS Advisors LLC now owns 1,534,820 shares of the company’s stock valued at $26,921,000 after buying an additional 293,987 shares during the period. Sei Investments Co. grew its holdings in DigitalBridge Group by 77.9% in the 1st quarter. Sei Investments Co. now owns 302,856 shares of the company’s stock valued at $5,836,000 after buying an additional 132,638 shares during the period. Finally, Franklin Resources Inc. grew its holdings in DigitalBridge Group by 555.4% in the 4th quarter. Franklin Resources Inc. now owns 92,896 shares of the company’s stock valued at $1,629,000 after buying an additional 78,723 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

DigitalBridge Group Stock Up 2.6 %

NYSE DBRG opened at $14.47 on Tuesday. The stock has a market cap of $2.51 billion, a PE ratio of 9.34, a P/E/G ratio of 1.78 and a beta of 1.96. DigitalBridge Group, Inc. has a fifty-two week low of $11.07 and a fifty-two week high of $20.99. The business has a 50 day moving average price of $13.06 and a two-hundred day moving average price of $14.77.

DigitalBridge Group (NYSE:DBRG) last announced its earnings results on Wednesday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). DigitalBridge Group had a net margin of 35.10% and a return on equity of 4.49%. The business had revenue of $390.34 million during the quarter, compared to analyst estimates of $97.05 million. Sell-side analysts anticipate that DigitalBridge Group, Inc. will post 0.2 EPS for the current fiscal year.

DigitalBridge Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date is Monday, September 30th. DigitalBridge Group’s payout ratio is 2.58%.

Analyst Ratings Changes

Several research firms have commented on DBRG. Royal Bank of Canada restated an “outperform” rating and issued a $19.00 price target on shares of DigitalBridge Group in a report on Wednesday, July 3rd. 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 report on Tuesday, July 9th. Wells Fargo & Company decreased their target price on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft decreased their target price on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Finally, Truist Financial decreased their target price on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, DigitalBridge Group presently has a consensus rating of “Buy” and an average price target of $19.22.

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.