Renaissance Technologies LLC Buys 176,000 Shares of DigitalBridge Group, Inc. (NYSE:DBRG)

Renaissance Technologies LLC boosted its stake in DigitalBridge Group, Inc. (NYSE:DBRG) by 73.3% in the 2nd quarter, Holdings Channel reports. The firm owned 415,976 shares of the company’s stock after acquiring an additional 176,000 shares during the quarter. Renaissance Technologies LLC’s holdings in DigitalBridge Group were worth $5,699,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in DBRG. Teacher Retirement System of Texas boosted its position 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 acquiring an additional 905 shares during the period. Dimensional Fund Advisors LP boosted its holdings in DigitalBridge Group by 260.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,302,941 shares of the company’s stock valued at $22,854,000 after purchasing an additional 941,662 shares during the period. Norges Bank purchased a new position in shares of DigitalBridge Group during the 4th quarter valued at $31,651,000. Trexquant Investment LP bought a new position in shares of DigitalBridge Group in the fourth quarter worth $1,010,000. Finally, Franklin Resources Inc. raised its position in shares of DigitalBridge Group by 555.4% in the fourth quarter. Franklin Resources Inc. now owns 92,896 shares of the company’s stock worth $1,629,000 after buying an additional 78,723 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Keefe, Bruyette & Woods reduced their target price on DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating for the company in a research report on Tuesday, June 18th. Truist Financial decreased 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. Royal Bank of Canada reissued an “outperform” rating and issued a $19.00 price target on shares of DigitalBridge Group in a research note on Wednesday, July 3rd. Wells Fargo & Company decreased their price target on shares of DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $19.22.

DigitalBridge Group Stock Performance

Shares of DigitalBridge Group stock opened at $14.19 on Friday. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 9.15, a price-to-earnings-growth ratio of 2.59 and a beta of 1.96. The company has a fifty day moving average of $13.11 and a 200-day moving average of $14.59. DigitalBridge Group, Inc. has a 52-week low of $11.07 and a 52-week high of $20.99.

DigitalBridge Group (NYSE:DBRG) last released 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). DigitalBridge Group had a return on equity of 4.49% and a net margin of 35.10%. The company had revenue of $390.34 million during the quarter, compared to analysts’ expectations of $97.05 million. On average, equities research analysts forecast that DigitalBridge Group, Inc. will post 0.16 earnings per share for the current fiscal year.

DigitalBridge Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders 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 of this dividend is Monday, September 30th. DigitalBridge Group’s dividend payout ratio (DPR) is presently 2.58%.

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.