Portolan Capital Management LLC Takes Position in DigitalBridge Group, Inc. (NYSE:DBRG)

Portolan Capital Management LLC purchased a new stake in shares of DigitalBridge Group, Inc. (NYSE:DBRG) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 234,238 shares of the company’s stock, valued at approximately $3,310,000. Portolan Capital Management LLC owned 0.13% of DigitalBridge Group as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of DBRG. nVerses Capital LLC raised its stake in shares of DigitalBridge Group by 633.3% in 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 in the last quarter. Meeder Asset Management Inc. acquired a new stake in DigitalBridge Group during the 3rd quarter valued at $34,000. Central Pacific Bank Trust Division bought a new position in DigitalBridge Group in the 3rd quarter valued at $35,000. Blue Trust Inc. increased its stake in shares of DigitalBridge Group by 179.2% in the third quarter. Blue Trust Inc. now owns 3,752 shares of the company’s stock valued at $51,000 after buying an additional 2,408 shares in the last quarter. Finally, Headlands Technologies LLC grew its holdings in DigitalBridge Group by 33,627.3% during the 2nd quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock worth $102,000 after acquiring an additional 7,398 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Stock Down 1.1 %

Shares of DBRG stock opened at $13.13 on Wednesday. DigitalBridge Group, Inc. has a 12-month low of $11.07 and a 12-month high of $20.99. The firm has a fifty day moving average of $14.14 and a 200-day moving average of $13.50. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 14.92 and a beta of 1.89.

DigitalBridge Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.04 annualized dividend and a dividend yield of 0.30%. DigitalBridge Group’s dividend payout ratio (DPR) is currently 5.48%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DBRG. Truist Financial dropped their price objective 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. Raymond James decreased their price target on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price objective on DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Keefe, Bruyette & Woods cut shares of DigitalBridge Group from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $17.75 to $14.00 in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company lowered their target price on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, November 4th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $18.13.

DigitalBridge Group 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.