Canada Pension Plan Investment Board Takes $2.88 Million Position in DigitalBridge Group, Inc. (NYSE:DBRG)

Canada Pension Plan Investment Board acquired a new position in shares of DigitalBridge Group, Inc. (NYSE:DBRG) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 210,200 shares of the company’s stock, valued at approximately $2,880,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA acquired a new stake in shares of DigitalBridge Group in the 2nd quarter worth approximately $39,033,000. Norges Bank acquired a new stake in DigitalBridge Group in the fourth quarter worth approximately $31,651,000. New South Capital Management Inc. lifted its position in DigitalBridge Group by 40.1% in the second quarter. New South Capital Management Inc. now owns 3,929,762 shares of the company’s stock worth $53,838,000 after purchasing an additional 1,125,549 shares during the period. Wafra Inc. boosted its stake in DigitalBridge Group by 7.1% during the 2nd 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 in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of DigitalBridge Group by 54.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,686,145 shares of the company’s stock valued at $36,797,000 after purchasing an additional 952,408 shares during the period. 92.69% of the stock is owned by institutional investors.

DigitalBridge Group Price Performance

DigitalBridge Group stock opened at $14.19 on Friday. DigitalBridge Group, Inc. has a fifty-two week low of $11.07 and a fifty-two week high of $20.99. The firm’s 50 day simple moving average is $13.11 and its 200-day simple moving average is $14.59. The company has a market cap of $2.47 billion, a P/E ratio of 9.15, a price-to-earnings-growth ratio of 2.59 and a beta of 1.96.

DigitalBridge Group (NYSE:DBRG) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.01 earnings per share 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 analysts’ expectations of $97.05 million. DigitalBridge Group had a return on equity of 4.49% and a net margin of 35.10%. On average, analysts expect that DigitalBridge Group, Inc. will post 0.16 EPS for the current fiscal year.

DigitalBridge Group Announces Dividend

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

Wall Street Analysts Forecast Growth

DBRG has been the subject of several research analyst reports. Keefe, Bruyette & Woods cut their price objective on DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating for the company in a report on Tuesday, June 18th. B. Riley cut their price target on shares of DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Wells Fargo & Company cut their target price on shares of DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $19.00 price target on shares of DigitalBridge Group in a research report on Wednesday, July 3rd. Seven investment 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, DigitalBridge Group currently has an average rating of “Buy” and a consensus target price of $19.22.

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.