DigitalBridge Group, Inc. (NYSE:DBRG) Shares Bought by Spirit of America Management Corp NY

Spirit of America Management Corp NY grew its holdings in DigitalBridge Group, Inc. (NYSE:DBRG) by 11.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 39,000 shares of the company’s stock after acquiring an additional 4,000 shares during the quarter. Spirit of America Management Corp NY’s holdings in DigitalBridge Group were worth $551,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of DBRG. Nordea Investment Management AB acquired a new stake in DigitalBridge Group in the 1st quarter worth approximately $3,214,000. DekaBank Deutsche Girozentrale acquired a new stake in DigitalBridge Group during the 1st quarter worth about $1,247,000. Sei Investments Co. boosted its position in DigitalBridge Group by 77.9% in the first quarter. Sei Investments Co. now owns 302,856 shares of the company’s stock valued at $5,836,000 after buying an additional 132,638 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in shares of DigitalBridge Group in the 2nd quarter valued at $3,234,000. Finally, Comerica Bank grew its position in DigitalBridge Group by 2,778.9% during the 1st quarter. Comerica Bank now owns 154,279 shares of the company’s stock worth $2,973,000 after purchasing an additional 148,920 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Trading Up 5.1 %

NYSE:DBRG opened at $16.62 on Friday. The stock has a 50 day moving average of $13.89 and a two-hundred day moving average of $14.11. DigitalBridge Group, Inc. has a 12 month low of $11.07 and a 12 month high of $20.99. The firm has a market cap of $2.89 billion, a P/E ratio of 7.80, a price-to-earnings-growth ratio of 2.84 and a beta of 1.95.

DigitalBridge Group (NYSE:DBRG) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.01 EPS 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, research analysts forecast that DigitalBridge Group, Inc. will post 0.16 earnings per share for the current year.

DigitalBridge Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.01 per share. The ex-dividend date was Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.24%. DigitalBridge Group’s payout ratio is presently 1.88%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wells Fargo & Company decreased their price target on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Royal Bank of Canada restated an “outperform” rating and set a $19.00 price target on shares of DigitalBridge Group in a research report on Wednesday, July 3rd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Raymond James dropped 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. Finally, B. Riley cut their price target on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $19.22.

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.