DigitalBridge Group, Inc. (NYSE:DBRG) Shares Sold by Otter Creek Advisors LLC

Otter Creek Advisors LLC trimmed its stake in shares of DigitalBridge Group, Inc. (NYSE:DBRG) by 39.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,903 shares of the company’s stock after selling 33,520 shares during the period. Otter Creek Advisors LLC’s holdings in DigitalBridge Group were worth $711,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in DigitalBridge Group by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 23,274,328 shares of the company’s stock worth $448,496,000 after buying an additional 256,016 shares during the period. Wafra Inc. raised its holdings in shares of DigitalBridge Group by 7.1% during the second quarter. Wafra Inc. now owns 15,455,808 shares of the company’s stock valued at $211,745,000 after acquiring an additional 1,020,409 shares during the period. New South Capital Management Inc. lifted its position in shares of DigitalBridge Group by 40.1% in the 2nd quarter. New South Capital Management Inc. now owns 3,929,762 shares of the company’s stock valued at $53,838,000 after acquiring an additional 1,125,549 shares in the last quarter. Frontier Capital Management Co. LLC boosted its stake in DigitalBridge Group by 10.4% in the 4th quarter. Frontier Capital Management Co. LLC now owns 3,550,341 shares of the company’s stock worth $62,273,000 after purchasing an additional 334,381 shares during the period. Finally, Wellington Management Group LLP boosted its stake in DigitalBridge Group by 5.3% in the 4th quarter. Wellington Management Group LLP now owns 2,872,338 shares of the company’s stock worth $50,381,000 after purchasing an additional 144,945 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

DigitalBridge Group Price Performance

Shares of NYSE DBRG opened at $11.52 on Friday. DigitalBridge Group, Inc. has a one year low of $11.34 and a one year high of $20.99. The business’s 50-day moving average price is $13.07 and its two-hundred day moving average price is $15.01. The company has a market capitalization of $2.00 billion, a P/E ratio of 7.43, a price-to-earnings-growth ratio of 1.22 and a beta of 1.96.

DigitalBridge Group (NYSE:DBRG) last announced 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). DigitalBridge Group had a net margin of 35.10% and a return on equity of 4.49%. The firm had revenue of $390.34 million during the quarter, compared to the consensus estimate of $97.05 million. On average, equities analysts anticipate that DigitalBridge Group, Inc. will post 0.28 EPS for the current year.

DigitalBridge Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.01 per share. The ex-dividend date is Monday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.35%. DigitalBridge Group’s dividend payout ratio (DPR) is 2.58%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DBRG. Raymond James cut their target price on shares of DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating on the stock in a research note on Thursday, August 8th. B. Riley dropped their price target on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods decreased their price objective on DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating for the company in a research report on Tuesday, June 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $19.00 target price on shares of DigitalBridge Group in a report on Wednesday, July 3rd. Finally, Truist Financial reduced their price target 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. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, DigitalBridge Group has a consensus rating of “Buy” and a consensus 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.