Edgestream Partners L.P. Cuts Stock Holdings in DigitalBridge Group, Inc. (NYSE:DBRG)

Edgestream Partners L.P. decreased its position in shares of DigitalBridge Group, Inc. (NYSE:DBRG) by 4.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 90,660 shares of the company’s stock after selling 3,928 shares during the quarter. Edgestream Partners L.P. owned 0.05% of DigitalBridge Group worth $1,242,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of DigitalBridge Group by 1.1% during the first quarter. Vanguard Group Inc. now owns 23,274,328 shares of the company’s stock valued at $448,496,000 after buying an additional 256,016 shares during the last quarter. Wafra Inc. lifted its position in DigitalBridge Group by 7.1% during the second quarter. Wafra Inc. now owns 15,455,808 shares of the company’s stock valued at $211,745,000 after purchasing an additional 1,020,409 shares during the period. New South Capital Management Inc. lifted its position in DigitalBridge Group by 40.1% during the second quarter. New South Capital Management Inc. now owns 3,929,762 shares of the company’s stock valued at $53,838,000 after purchasing an additional 1,125,549 shares during the period. Frontier Capital Management Co. LLC lifted its position in DigitalBridge Group by 10.4% during the fourth quarter. Frontier Capital Management Co. LLC now owns 3,550,341 shares of the company’s stock valued at $62,273,000 after purchasing an additional 334,381 shares during the period. Finally, Wellington Management Group LLP lifted its position in DigitalBridge Group by 5.3% during the fourth quarter. Wellington Management Group LLP now owns 2,872,338 shares of the company’s stock valued at $50,381,000 after purchasing an additional 144,945 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and set a $19.00 price objective on shares of DigitalBridge Group in a research report on Wednesday, July 3rd. B. Riley lowered their price objective on shares of DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Truist Financial lowered their price objective on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Wells Fargo & Company lowered 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 report on Tuesday, August 6th. Finally, Raymond James lowered their price objective on shares of DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating on the stock in a research report on Thursday, August 8th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, DigitalBridge Group has a consensus rating of “Buy” and a consensus price target of $19.22.

DigitalBridge Group Trading Up 2.3 %

DBRG opened at $14.51 on Friday. DigitalBridge Group, Inc. has a 1-year low of $11.07 and a 1-year high of $20.99. The company has a market capitalization of $2.52 billion, a PE ratio of 9.36, a PEG ratio of 1.78 and a beta of 1.96. The firm’s 50 day simple moving average is $13.09 and its two-hundred day simple moving average is $14.73.

DigitalBridge Group (NYSE:DBRG) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). The firm had revenue of $390.34 million for the quarter, compared to the consensus estimate of $97.05 million. DigitalBridge Group had a net margin of 35.10% and a return on equity of 4.49%. Equities analysts forecast that DigitalBridge Group, Inc. will post 0.2 earnings per share for the current fiscal year.

DigitalBridge Group Announces Dividend

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

DigitalBridge Group Company 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.