DigitalBridge Group, Inc. (NYSE:DBRG) is Wafra Inc.’s Largest Position

Wafra Inc. raised its holdings in DigitalBridge Group, Inc. (NYSE:DBRG) by 7.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,455,808 shares of the company’s stock after purchasing an additional 1,020,409 shares during the period. DigitalBridge Group accounts for approximately 89.0% of Wafra Inc.’s portfolio, making the stock its largest holding. Wafra Inc. owned approximately 0.09% of DigitalBridge Group worth $211,745,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Russell Investments Group Ltd. increased its position in DigitalBridge Group by 7.4% during the 4th quarter. Russell Investments Group Ltd. now owns 103,445 shares of the company’s stock worth $1,814,000 after purchasing an additional 7,116 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of DigitalBridge Group by 24.5% during the fourth quarter. Victory Capital Management Inc. now owns 21,789 shares of the company’s stock valued at $382,000 after buying an additional 4,291 shares during the period. Los Angeles Capital Management LLC lifted its stake in shares of DigitalBridge Group by 7.3% during the fourth quarter. Los Angeles Capital Management LLC now owns 68,195 shares of the company’s stock valued at $1,196,000 after buying an additional 4,623 shares during the period. National Bank of Canada FI grew its stake in DigitalBridge Group by 69.7% in the 4th quarter. National Bank of Canada FI now owns 326,029 shares of the company’s stock worth $5,588,000 after acquiring an additional 133,964 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in DigitalBridge Group by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,523,972 shares of the company’s stock worth $26,730,000 after acquiring an additional 8,455 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

DigitalBridge Group Price Performance

DBRG stock traded down $0.14 during midday trading on Friday, reaching $11.87. 166,345 shares of the company’s stock traded hands, compared to its average volume of 2,100,662. DigitalBridge Group, Inc. has a fifty-two week low of $11.82 and a fifty-two week high of $20.99. The business has a 50-day moving average price of $13.11 and a two-hundred day moving average price of $15.10. The company has a market capitalization of $2.06 billion, a P/E ratio of 7.75, a PEG ratio of 1.22 and a beta of 2.00.

DigitalBridge Group (NYSE:DBRG) last posted its earnings results on Wednesday, August 7th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). DigitalBridge Group had a net margin of 35.10% and a return on equity of 4.49%. The business had revenue of $390.34 million for the quarter, compared to analyst estimates of $97.05 million. As a group, research analysts forecast that DigitalBridge Group, Inc. will post 0.28 earnings per share for the current fiscal year.

DigitalBridge Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.34%. The ex-dividend date is Monday, September 30th. DigitalBridge Group’s payout ratio is 2.58%.

Analysts Set New Price Targets

DBRG has been the topic of several analyst reports. Raymond James decreased their price objective 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. Royal Bank of Canada restated an “outperform” rating and issued a $19.00 price target on shares of DigitalBridge Group in a report on Wednesday, July 3rd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Wells Fargo & Company cut their price target on shares of DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating for the company in a research note on Tuesday, June 18th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, DigitalBridge Group presently has an average rating of “Buy” and a consensus price target of $19.22.

DigitalBridge Group Company 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.