DigitalBridge Group, Inc. (NYSE:DBRG) Position Reduced by Cannell & Co.

Cannell & Co. cut its position in shares of DigitalBridge Group, Inc. (NYSE:DBRG) by 3.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,850 shares of the company’s stock after selling 2,000 shares during the quarter. Cannell & Co.’s holdings in DigitalBridge Group were worth $1,085,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in DBRG. Raymond James & Associates increased its holdings in shares of DigitalBridge Group by 73.7% in the 3rd quarter. Raymond James & Associates now owns 114,123 shares of the company’s stock valued at $2,006,000 after purchasing an additional 48,424 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in shares of DigitalBridge Group in the 3rd quarter valued at about $586,000. Independent Advisor Alliance increased its holdings in shares of DigitalBridge Group by 4.5% in the 3rd quarter. Independent Advisor Alliance now owns 17,076 shares of the company’s stock valued at $300,000 after purchasing an additional 734 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of DigitalBridge Group by 5.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 712,822 shares of the company’s stock valued at $12,531,000 after purchasing an additional 38,170 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of DigitalBridge Group by 21.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,455 shares of the company’s stock valued at $623,000 after purchasing an additional 6,160 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

DBRG has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price objective on DigitalBridge Group from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Wednesday. Truist Financial upped their target price on DigitalBridge Group from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $21.75.

DigitalBridge Group Trading Down 14.2 %

DBRG opened at $14.11 on Thursday. DigitalBridge Group, Inc. has a 1-year low of $10.20 and a 1-year high of $20.99. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 9.10 and a beta of 1.95. The business has a 50 day moving average of $18.25 and a 200-day moving average of $17.76.

DigitalBridge Group (NYSE:DBRG) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.06. DigitalBridge Group had a return on equity of 2.91% and a net margin of 26.64%. The company had revenue of $350.31 million during the quarter, compared to analysts’ expectations of $287.41 million. Equities analysts predict that DigitalBridge Group, Inc. will post 0.25 EPS for the current year.

DigitalBridge Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Sunday, March 31st were given a $0.01 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.04 annualized dividend and a dividend yield of 0.28%. DigitalBridge Group’s dividend payout ratio is 2.58%.

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.