DigitalBridge Group, Inc. $DBRG Position Cut by DAVENPORT & Co LLC

DAVENPORT & Co LLC reduced its holdings in DigitalBridge Group, Inc. (NYSE:DBRG) by 52.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 718,943 shares of the company’s stock after selling 781,167 shares during the quarter. DAVENPORT & Co LLC’s holdings in DigitalBridge Group were worth $10,985,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of DigitalBridge Group in the second quarter worth $1,868,000. Azora Capital LP bought a new stake in shares of DigitalBridge Group during the second quarter valued at about $23,579,000. Gateway Wealth Partners LLC bought a new stake in shares of DigitalBridge Group during the third quarter valued at about $5,483,000. Sarasin & Partners LLP acquired a new stake in DigitalBridge Group in the third quarter worth about $1,886,000. Finally, Aberdeen Group plc acquired a new stake in DigitalBridge Group in the third quarter worth about $3,220,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Ratings Changes

DBRG has been the topic of several research analyst reports. B. Riley Financial cut shares of DigitalBridge Group from a “buy” rating to a “hold” rating and lowered their target price for the company from $20.00 to $16.00 in a research note on Tuesday, December 30th. Weiss Ratings raised shares of DigitalBridge Group from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, March 2nd. TD Cowen cut shares of DigitalBridge Group from a “buy” rating to a “hold” rating and set a $16.00 price objective for the company. in a report on Tuesday, December 30th. Raymond James Financial cut DigitalBridge Group from a “strong-buy” rating to an “underperform” rating in a report on Tuesday, January 27th. Finally, Keefe, Bruyette & Woods upped their target price on DigitalBridge Group from $13.50 to $16.00 and gave the stock a “market perform” rating in a research report on Tuesday, December 30th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, DigitalBridge Group currently has a consensus rating of “Hold” and an average price target of $16.00.

DigitalBridge Group Trading Down 0.2%

Shares of DigitalBridge Group stock opened at $15.38 on Thursday. DigitalBridge Group, Inc. has a 52 week low of $6.41 and a 52 week high of $15.55. The company’s 50-day moving average price is $15.40 and its two-hundred day moving average price is $13.41. The stock has a market cap of $2.81 billion, a PE ratio of 34.17 and a beta of 1.67.

DigitalBridge Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Tuesday, March 31st. DigitalBridge Group’s payout ratio is presently 8.89%.

DigitalBridge Group Company Profile

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.