DigitalBridge Group, Inc. (NYSE:DBRG) Stake Lessened by ProShare Advisors LLC

ProShare Advisors LLC trimmed its stake in shares of DigitalBridge Group, Inc. (NYSE:DBRG) by 25.5% during the second quarter, HoldingsChannel reports. The fund owned 21,686 shares of the company’s stock after selling 7,406 shares during the quarter. ProShare Advisors LLC’s holdings in DigitalBridge Group were worth $297,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its stake in DigitalBridge Group by 4.1% during the second quarter. Victory Capital Management Inc. now owns 22,165 shares of the company’s stock worth $304,000 after purchasing an additional 870 shares during the last quarter. Arizona State Retirement System lifted its position in shares of DigitalBridge Group by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 45,735 shares of the company’s stock worth $627,000 after buying an additional 872 shares during the last quarter. King Luther Capital Management Corp boosted its holdings in shares of DigitalBridge Group by 1.3% in the 2nd quarter. King Luther Capital Management Corp now owns 71,038 shares of the company’s stock valued at $973,000 after buying an additional 942 shares during the period. nVerses Capital LLC grew its position in shares of DigitalBridge Group by 633.3% during the 2nd quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock valued at $30,000 after buying an additional 1,900 shares during the last quarter. Finally, Swiss National Bank raised its stake in DigitalBridge Group by 0.7% during the first quarter. Swiss National Bank now owns 322,325 shares of the company’s stock worth $6,211,000 after acquiring an additional 2,100 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

DigitalBridge Group Stock Up 0.3 %

NYSE:DBRG opened at $14.62 on Friday. DigitalBridge Group, Inc. has a 52-week low of $11.07 and a 52-week high of $20.99. The firm has a market cap of $2.54 billion, a P/E ratio of 9.43, a PEG ratio of 2.59 and a beta of 1.95. The business’s 50-day moving average price is $13.13 and its 200 day moving average price is $14.45.

DigitalBridge Group (NYSE:DBRG) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.01 earnings per share (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 business had revenue of $390.34 million during the quarter, compared to analyst estimates of $97.05 million. Sell-side analysts expect that DigitalBridge Group, Inc. will post 0.16 EPS for the current year.

DigitalBridge Group Announces Dividend

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 given a dividend of $0.01 per share. The ex-dividend date is Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.27%. DigitalBridge Group’s dividend payout ratio (DPR) is presently 2.58%.

Wall Street Analyst Weigh In

DBRG has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their target price on DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft cut 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 report on Thursday, August 15th. 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 report on Wednesday, August 21st. Wells Fargo & Company reduced their price objective on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Finally, Raymond James lowered their target price on DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating on the stock in a research report on Thursday, August 8th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, DigitalBridge Group currently has a consensus rating of “Buy” and an average price target 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.