DigitalBridge Group, Inc. (NYSE:DBRG) Sees Large Increase in Short Interest

DigitalBridge Group, Inc. (NYSE:DBRG) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 15,050,000 shares, a growth of 12.1% from the August 15th total of 13,430,000 shares. Currently, 8.8% of the shares of the company are short sold. Based on an average daily volume of 1,870,000 shares, the days-to-cover ratio is currently 8.0 days.

DigitalBridge Group Stock Performance

NYSE:DBRG opened at $14.09 on Wednesday. The firm has a market capitalization of $2.45 billion, a PE ratio of 9.09, a PEG ratio of 1.78 and a beta of 1.96. The stock’s fifty day moving average is $13.07 and its 200 day moving average is $14.74. DigitalBridge Group has a fifty-two week low of $11.07 and a fifty-two week high of $20.99.

DigitalBridge Group (NYSE:DBRG) last released its earnings results 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). The firm had revenue of $390.34 million during the quarter, compared to the consensus estimate of $97.05 million. DigitalBridge Group had a return on equity of 4.49% and a net margin of 35.10%. Equities analysts forecast that DigitalBridge Group will post 0.2 EPS for the current year.

DigitalBridge Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.28%. DigitalBridge Group’s dividend payout ratio (DPR) is presently 2.58%.

Wall Street Analysts Forecast Growth

DBRG has been the topic of several research analyst reports. Raymond James lowered their price target on DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating on the stock in a report on Thursday, August 8th. B. Riley reduced their target price 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. Wells Fargo & Company decreased their price objective on shares of DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Truist Financial cut their target price on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating for the company in a report on Tuesday, June 18th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, DigitalBridge Group currently has a consensus rating of “Buy” and an average target price of $19.22.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of DBRG. nVerses Capital LLC boosted its holdings in 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 acquiring an additional 1,900 shares during the period. Quarry LP bought a new position in DigitalBridge Group during the 4th quarter worth about $41,000. Headlands Technologies LLC increased its holdings in DigitalBridge Group by 33,627.3% during the second quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock valued at $102,000 after buying an additional 7,398 shares during the period. Xponance Inc. purchased a new position in shares of DigitalBridge Group in the 2nd quarter valued at $138,000. Finally, Federated Hermes Inc. grew its stake in DigitalBridge Group by 944.8% in the second quarter. Federated Hermes Inc. now owns 10,166 shares of the company’s stock valued at $139,000 after purchasing an additional 9,193 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

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.