Covestor Ltd Buys 4,517 Shares of DigitalBridge Group, Inc. (NYSE:DBRG)

Covestor Ltd lifted its position in DigitalBridge Group, Inc. (NYSE:DBRG) by 73.0% during the 3rd quarter, Holdings Channel reports. The firm owned 10,703 shares of the company’s stock after acquiring an additional 4,517 shares during the period. Covestor Ltd’s holdings in DigitalBridge Group were worth $151,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. nVerses Capital LLC boosted its holdings in DigitalBridge Group by 633.3% in the second quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock valued at $30,000 after acquiring an additional 1,900 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of DigitalBridge Group during the 3rd quarter valued at about $35,000. Blue Trust Inc. increased its position in shares of DigitalBridge Group by 179.2% during the third quarter. Blue Trust Inc. now owns 3,752 shares of the company’s stock valued at $51,000 after buying an additional 2,408 shares during the period. Headlands Technologies LLC raised its stake in DigitalBridge Group by 33,627.3% in the second quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock worth $102,000 after buying an additional 7,398 shares in the last quarter. Finally, Xponance Inc. purchased a new stake in DigitalBridge Group in the second quarter worth about $138,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DBRG. JPMorgan Chase & Co. increased their target price on DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Raymond James lowered their price objective on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Keefe, Bruyette & Woods cut shares of DigitalBridge Group from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $17.75 to $14.00 in a research report on Wednesday, November 6th. Finally, Truist Financial decreased their target price on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $18.13.

DigitalBridge Group Price Performance

DBRG stock opened at $12.55 on Tuesday. DigitalBridge Group, Inc. has a 1-year low of $11.07 and a 1-year high of $20.99. The business has a fifty day moving average price of $14.33 and a 200-day moving average price of $13.75. The stock has a market capitalization of $2.19 billion, a P/E ratio of 17.18, a P/E/G ratio of 2.18 and a beta of 1.94.

DigitalBridge Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Tuesday, December 31st. DigitalBridge Group’s dividend payout ratio (DPR) is presently 5.48%.

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.