DAVENPORT & Co LLC Raises Position in DigitalBridge Group, Inc. $DBRG

DAVENPORT & Co LLC lifted its stake in DigitalBridge Group, Inc. (NYSE:DBRG) by 15.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,500,110 shares of the company’s stock after purchasing an additional 200,110 shares during the quarter. DAVENPORT & Co LLC’s holdings in DigitalBridge Group were worth $17,701,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Captrust Financial Advisors bought a new stake in DigitalBridge Group in the second quarter worth $109,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of DigitalBridge Group in the second quarter valued at $113,000. Russell Investments Group Ltd. lifted its holdings in shares of DigitalBridge Group by 239.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 11,373 shares of the company’s stock worth $118,000 after acquiring an additional 8,022 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of DigitalBridge Group by 12.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 11,746 shares of the company’s stock worth $122,000 after purchasing an additional 1,309 shares during the period. Finally, Corient Private Wealth LLC bought a new position in DigitalBridge Group during the 2nd quarter valued at about $134,000. Institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. B. Riley raised shares of DigitalBridge Group to a “strong-buy” rating in a research note on Thursday, October 30th. TD Cowen raised their price target on DigitalBridge Group from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Royal Bank Of Canada upped their price objective on DigitalBridge Group from $19.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, December 8th. Zacks Research upgraded DigitalBridge Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 5th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of DigitalBridge Group from $11.00 to $12.50 and gave the company a “market perform” rating in a research note on Monday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $17.69.

DigitalBridge Group Trading Up 2.1%

Shares of DBRG stock opened at $13.58 on Thursday. DigitalBridge Group, Inc. has a twelve month low of $6.41 and a twelve month high of $15.55. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of 226.29 and a beta of 1.77. The stock has a fifty day simple moving average of $11.71 and a two-hundred day simple moving average of $11.33.

DigitalBridge Group (NYSE:DBRG) last announced its quarterly earnings results on Thursday, March 21st. The company reported ($0.07) EPS for the quarter. The firm had revenue of $232.83 million for the quarter. DigitalBridge Group had a net margin of 18.57% and a return on equity of 4.78%. Research analysts predict that DigitalBridge Group, Inc. will post 0.17 EPS for the current fiscal year.

DigitalBridge Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be issued a $0.01 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. DigitalBridge Group’s payout ratio is currently 66.67%.

About DigitalBridge Group

DigitalBridge Group, Inc (NYSE: DBRG) is a specialized global investment firm focused exclusively on digital infrastructure. The company originates, acquires, and manages a diversified portfolio of businesses that support the digital economy, including data centers, cell towers, small cells, fiber networks, edge infrastructure and related services. DigitalBridge seeks to generate sustainable, long-term returns for its investors by deploying capital into high-growth sectors driven by increasing data consumption, 5G deployment and cloud adoption.

Through its dedicated investment platforms, DigitalBridge provides equity and debt financing solutions to operators and owners of digital infrastructure assets.