Purpose Unlimited Inc. Invests $3.22 Million in DigitalBridge Group, Inc. $DBRG

Purpose Unlimited Inc. purchased a new position in shares of DigitalBridge Group, Inc. (NYSE:DBRG) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 209,895 shares of the company’s stock, valued at approximately $3,220,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in DigitalBridge Group by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,556 shares of the company’s stock valued at $834,000 after buying an additional 4,122 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of DigitalBridge Group by 45.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,225,993 shares of the company’s stock valued at $19,633,000 after acquiring an additional 693,613 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of DigitalBridge Group by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 392,094 shares of the company’s stock valued at $3,458,000 after acquiring an additional 21,930 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of DigitalBridge Group by 12.5% in the second quarter. Envestnet Asset Management Inc. now owns 11,746 shares of the company’s stock valued at $122,000 after acquiring an additional 1,309 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of DigitalBridge Group by 39.1% during the second quarter. Cetera Investment Advisers now owns 21,360 shares of the company’s stock worth $221,000 after acquiring an additional 6,000 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on DBRG. Weiss Ratings reissued a “hold (c)” rating on shares of DigitalBridge Group in a report on Friday, May 29th. Truist Financial initiated coverage on DigitalBridge Group in a research report on Tuesday, March 31st. They set a “buy” rating and a $16.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $16.00.

DigitalBridge Group Stock Performance

DigitalBridge Group stock opened at $15.76 on Friday. The company has a market cap of $2.87 billion, a P/E ratio of 32.15 and a beta of 1.48. DigitalBridge Group, Inc. has a one year low of $8.94 and a one year high of $15.77. The business has a fifty day moving average of $15.65 and a two-hundred day moving average of $15.16.

DigitalBridge Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Tuesday, June 30th. DigitalBridge Group’s dividend payout ratio (DPR) is currently 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.