Iridian Asset Management LLC CT Grows Stake in DigitalBridge Group, Inc. $DBRG

Iridian Asset Management LLC CT lifted its position in DigitalBridge Group, Inc. (NYSE:DBRG) by 13.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 399,393 shares of the company’s stock after buying an additional 48,376 shares during the period. DigitalBridge Group comprises about 1.8% of Iridian Asset Management LLC CT’s investment portfolio, making the stock its 17th biggest position. Iridian Asset Management LLC CT’s holdings in DigitalBridge Group were worth $4,673,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Frontier Capital Management Co. LLC grew its position in DigitalBridge Group by 29.8% during the second quarter. Frontier Capital Management Co. LLC now owns 5,669,342 shares of the company’s stock worth $58,678,000 after buying an additional 1,302,150 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of DigitalBridge Group by 5.5% during the 2nd quarter. Geode Capital Management LLC now owns 3,908,311 shares of the company’s stock valued at $40,456,000 after acquiring an additional 204,770 shares during the last quarter. Invesco Ltd. grew its holdings in shares of DigitalBridge Group by 8.0% during the second quarter. Invesco Ltd. now owns 3,836,949 shares of the company’s stock worth $39,712,000 after purchasing an additional 285,721 shares in the last quarter. Horizon Kinetics Asset Management LLC increased its position in shares of DigitalBridge Group by 5.0% in the second quarter. Horizon Kinetics Asset Management LLC now owns 3,617,965 shares of the company’s stock worth $37,446,000 after purchasing an additional 171,988 shares during the last quarter. Finally, Private Management Group Inc. increased its position in shares of DigitalBridge Group by 1.0% in the second quarter. Private Management Group Inc. now owns 2,485,817 shares of the company’s stock worth $25,728,000 after purchasing an additional 24,061 shares during the last quarter. Institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Stock Down 0.1%

NYSE DBRG opened at $15.36 on Monday. The company has a 50-day simple moving average of $12.35 and a two-hundred day simple moving average of $11.74. DigitalBridge Group, Inc. has a 12-month low of $6.41 and a 12-month high of $15.55. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 255.96 and a beta of 1.69.

DigitalBridge Group (NYSE:DBRG) last released its quarterly earnings data on Thursday, March 21st. The company reported ($0.07) EPS for the quarter. The firm had revenue of $232.83 million during the quarter. Equities analysts expect that DigitalBridge Group, Inc. will post 0.17 earnings per share for the current fiscal year.

DigitalBridge Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Wednesday, December 31st. DigitalBridge Group’s dividend payout ratio is 66.67%.

Analyst Ratings Changes

Several brokerages have issued reports on DBRG. Citizens Jmp lowered shares of DigitalBridge Group from a “market outperform” rating to a “hold” rating and set a $16.00 target price for the company. in a research report on Monday, December 29th. Keefe, Bruyette & Woods lifted their price objective on shares of DigitalBridge Group from $13.50 to $16.00 and gave the stock a “market perform” rating in a report on Tuesday, December 30th. Zacks Research upgraded shares of DigitalBridge Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 5th. Weiss Ratings restated a “sell (d+)” rating on shares of DigitalBridge Group in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada lowered DigitalBridge Group from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $23.00 to $16.00 in a research note on Tuesday, December 30th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, DigitalBridge Group has a consensus rating of “Hold” and an average price target of $16.22.

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.