GABELLI & Co INVESTMENT ADVISERS INC. Invests $4.52 Million in DigitalBridge Group, Inc. $DBRG

GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in DigitalBridge Group, Inc. (NYSE:DBRG) during the 4th quarter, Holdings Channel reports. The firm bought 294,630 shares of the company’s stock, valued at approximately $4,520,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Stoneridge Investment Partners LLC boosted its holdings in shares of DigitalBridge Group by 7.9% in the 3rd quarter. Stoneridge Investment Partners LLC now owns 14,153 shares of the company’s stock worth $166,000 after acquiring an additional 1,037 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of DigitalBridge Group by 2.4% in the 3rd quarter. Arizona State Retirement System now owns 52,115 shares of the company’s stock worth $610,000 after acquiring an additional 1,244 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of DigitalBridge Group by 12.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 11,746 shares of the company’s stock worth $122,000 after acquiring an additional 1,309 shares in the last quarter. CWM LLC boosted its holdings in shares of DigitalBridge Group by 6.1% in the 4th quarter. CWM LLC now owns 33,149 shares of the company’s stock worth $509,000 after acquiring an additional 1,910 shares in the last quarter. Finally, Tidal Investments LLC boosted its holdings in shares of DigitalBridge Group by 1.8% in the 2nd quarter. Tidal Investments LLC now owns 114,559 shares of the company’s stock worth $1,186,000 after acquiring an additional 1,986 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DBRG has been the subject of several research analyst reports. Truist Financial initiated coverage on shares of DigitalBridge Group in a research report on Tuesday, March 31st. They issued a “buy” rating and a $16.00 price objective for the company. Weiss Ratings upgraded shares of DigitalBridge Group from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, March 2nd. Finally, Raymond James Financial cut shares of DigitalBridge Group from a “strong-buy” rating to an “underperform” rating in a research report on Tuesday, January 27th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, DigitalBridge Group has an average rating of “Hold” and a consensus target price of $16.00.

DigitalBridge Group Price Performance

DBRG stock opened at $15.66 on Monday. The company has a 50 day moving average price of $15.50 and a 200 day moving average price of $14.28. DigitalBridge Group, Inc. has a fifty-two week low of $8.94 and a fifty-two week high of $15.68. The stock has a market capitalization of $2.86 billion, a PE ratio of 31.95 and a beta of 1.49.

DigitalBridge Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.3%. The ex-dividend date is Tuesday, June 30th. DigitalBridge Group’s payout ratio is 8.16%.

DigitalBridge Group Profile

DigitalBridge Group, Inc (NYSE: DBRG) is a specialized global investment firm focused exclusively on digital infrastructure. The company originates, acquires, and manages a diversified portfolio of businesses that support the digital economy, including data centers, cell towers, small cells, fiber networks, edge infrastructure and related services. DigitalBridge seeks to generate sustainable, long-term returns for its investors by deploying capital into high-growth sectors driven by increasing data consumption, 5G deployment and cloud adoption.

Through its dedicated investment platforms, DigitalBridge provides equity and debt financing solutions to operators and owners of digital infrastructure assets.