Fmr LLC Lowers Holdings in DigitalBridge Group, Inc. (NYSE:DBRG)

Fmr LLC trimmed its position in DigitalBridge Group, Inc. (NYSE:DBRG) by 14.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,384,371 shares of the company’s stock after selling 230,433 shares during the period. Fmr LLC’s holdings in DigitalBridge Group were worth $19,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently made changes to their positions in the stock. Wafra Inc. boosted its position 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 purchasing an additional 1,020,409 shares in the last quarter. New South Capital Management Inc. raised its stake in shares of DigitalBridge Group by 0.3% during the 3rd quarter. New South Capital Management Inc. now owns 3,940,203 shares of the company’s stock worth $55,675,000 after buying an additional 10,441 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of DigitalBridge Group by 27.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,640,632 shares of the company’s stock worth $51,442,000 after buying an additional 791,506 shares during the last quarter. Legion Partners Asset Management LLC raised its stake in shares of DigitalBridge Group by 3.3% during the 2nd quarter. Legion Partners Asset Management LLC now owns 3,453,253 shares of the company’s stock worth $47,310,000 after buying an additional 111,243 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of DigitalBridge Group by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,930,766 shares of the company’s stock worth $41,412,000 after buying an additional 34,168 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

DigitalBridge Group Stock Down 1.0 %

NYSE DBRG opened at $12.50 on Wednesday. The business has a 50 day moving average price of $13.98 and a two-hundred day moving average price of $13.48. DigitalBridge Group, Inc. has a fifty-two week low of $11.07 and a fifty-two week high of $20.99. The stock has a market cap of $2.18 billion, a PE ratio of 17.12, a P/E/G ratio of 14.43 and a beta of 1.89.

DigitalBridge Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend is Tuesday, December 31st. DigitalBridge Group’s dividend payout ratio is currently 5.48%.

Wall Street Analyst Weigh In

DBRG has been the subject of several research reports. Keefe, Bruyette & Woods downgraded DigitalBridge Group from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $17.75 to $14.00 in a research note on Wednesday, November 6th. Truist Financial cut their price target 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. JPMorgan Chase & Co. lifted their price target on DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Wells Fargo & Company cut their target price on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, DigitalBridge Group has a consensus rating of “Buy” and a consensus target price of $18.13.

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.