Investors Buy High Volume of Call Options on DigitalBridge Group (NYSE:DBRG)

DigitalBridge Group, Inc. (NYSE:DBRG) was the target of unusually large options trading activity on Friday. Traders acquired 10,033 call options on the company. This is an increase of 394% compared to the typical daily volume of 2,030 call options.

DigitalBridge Group Stock Up 1.7 %

DigitalBridge Group stock opened at $13.70 on Friday. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 8.84, a P/E/G ratio of 1.49 and a beta of 1.96. DigitalBridge Group has a 12-month low of $12.12 and a 12-month high of $20.99. The stock has a 50-day simple moving average of $14.00 and a 200 day simple moving average of $16.93.

DigitalBridge Group (NYSE:DBRG) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). The firm had revenue of $74.39 million during the quarter, compared to the consensus estimate of $100.76 million. DigitalBridge Group had a net margin of 26.64% and a return on equity of 3.14%. As a group, sell-side analysts anticipate that DigitalBridge Group will post 0.25 EPS for the current year.

DigitalBridge Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Sunday, June 30th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend is Friday, June 28th. DigitalBridge Group’s payout ratio is 2.58%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DBRG. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $17.00 target price (down from $21.00) on shares of DigitalBridge Group in a report on Tuesday, June 18th. Truist Financial dropped their price objective on DigitalBridge Group from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. JPMorgan Chase & Co. decreased their target price on DigitalBridge Group from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Finally, Keefe, Bruyette & Woods lowered their price objective on DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating on the stock in a research report on Tuesday, June 18th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $20.96.

Hedge Funds Weigh In On DigitalBridge Group

Institutional investors have recently modified their holdings of the stock. New York State Common Retirement Fund lifted its position in DigitalBridge Group by 0.3% in the 4th quarter. New York State Common Retirement Fund now owns 151,149 shares of the company’s stock valued at $2,651,000 after acquiring an additional 514 shares in the last quarter. Teacher Retirement System of Texas grew its stake in shares of DigitalBridge Group by 7.2% in the fourth quarter. Teacher Retirement System of Texas now owns 13,399 shares of the company’s stock valued at $235,000 after buying an additional 905 shares in the last quarter. Fulton Bank N.A. increased its stake in shares of DigitalBridge Group by 16.8% during the 4th quarter. Fulton Bank N.A. now owns 14,459 shares of the company’s stock worth $254,000 after purchasing an additional 2,083 shares during the last quarter. Harvest Investment Services LLC increased its position in DigitalBridge Group by 8.3% during the fourth quarter. Harvest Investment Services LLC now owns 27,084 shares of the company’s stock worth $475,000 after buying an additional 2,084 shares during the last quarter. Finally, Swiss National Bank lifted its position in shares of DigitalBridge Group by 0.7% in the first quarter. Swiss National Bank now owns 322,325 shares of the company’s stock valued at $6,211,000 after buying an additional 2,100 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

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.