Orchard Capital Management LLC Lowers Position in DigitalBridge Group, Inc. (NYSE:DBRG)

Orchard Capital Management LLC reduced its stake in DigitalBridge Group, Inc. (NYSE:DBRG) by 1.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 421,060 shares of the company’s stock after selling 5,609 shares during the quarter. DigitalBridge Group makes up 1.7% of Orchard Capital Management LLC’s investment portfolio, making the stock its 29th largest holding. Orchard Capital Management LLC owned 0.24% of DigitalBridge Group worth $5,769,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of DigitalBridge Group by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 23,274,328 shares of the company’s stock valued at $448,496,000 after purchasing an additional 256,016 shares during the last quarter. Wafra Inc. grew its stake in shares of DigitalBridge Group by 7.1% during the 2nd quarter. Wafra Inc. now owns 15,455,808 shares of the company’s stock worth $211,745,000 after acquiring an additional 1,020,409 shares during the period. New South Capital Management Inc. grew its stake in shares of DigitalBridge Group by 40.1% during the 2nd quarter. New South Capital Management Inc. now owns 3,929,762 shares of the company’s stock worth $53,838,000 after acquiring an additional 1,125,549 shares during the period. Frontier Capital Management Co. LLC grew its stake in shares of DigitalBridge Group by 10.4% during the 4th quarter. Frontier Capital Management Co. LLC now owns 3,550,341 shares of the company’s stock worth $62,273,000 after acquiring an additional 334,381 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of DigitalBridge Group by 5.3% during the 4th quarter. Wellington Management Group LLP now owns 2,872,338 shares of the company’s stock worth $50,381,000 after acquiring an additional 144,945 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on DBRG shares. 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. Keefe, Bruyette & Woods cut their price target on DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating for the company in a research note on Tuesday, June 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $19.00 price target on shares of DigitalBridge Group in a research note on Wednesday, July 3rd. Truist Financial cut their target price on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Finally, Deutsche Bank Aktiengesellschaft cut their target price on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $19.22.

DigitalBridge Group Price Performance

NYSE:DBRG opened at $14.18 on Friday. The firm has a market capitalization of $2.46 billion, a P/E ratio of 9.15, a PEG ratio of 1.78 and a beta of 1.96. DigitalBridge Group, Inc. has a one year low of $11.07 and a one year high of $20.99. The company’s 50-day simple moving average is $13.08 and its 200 day simple moving average is $14.73.

DigitalBridge Group (NYSE:DBRG) last announced its earnings results 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). 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 for the quarter, compared to the consensus estimate of $97.05 million. On average, equities research analysts expect that DigitalBridge Group, Inc. will post 0.2 earnings per share for the current fiscal year.

DigitalBridge Group Dividend Announcement

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 paid a dividend of $0.01 per share. 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 dividend payout ratio is 2.58%.

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.