Horizon Kinetics Asset Management LLC Acquires 4,020,627 Shares of DigitalBridge Group, Inc. (NYSE:DBRG)

Horizon Kinetics Asset Management LLC increased its holdings in DigitalBridge Group, Inc. (NYSE:DBRG) by 868.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,483,340 shares of the company’s stock after purchasing an additional 4,020,627 shares during the quarter. DigitalBridge Group makes up approximately 0.6% of Horizon Kinetics Asset Management LLC’s holdings, making the stock its 15th largest holding. Horizon Kinetics Asset Management LLC owned about 2.57% of DigitalBridge Group worth $50,572,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. TCTC Holdings LLC grew its holdings in shares of DigitalBridge Group by 36.9% during the 4th quarter. TCTC Holdings LLC now owns 125,779 shares of the company’s stock worth $1,419,000 after acquiring an additional 33,901 shares during the period. Cibc World Markets Corp purchased a new position in shares of DigitalBridge Group during the 4th quarter worth approximately $168,000. Corient Private Wealth LLC purchased a new position in shares of DigitalBridge Group during the 4th quarter worth approximately $290,000. one8zero8 LLC purchased a new position in shares of DigitalBridge Group during the 4th quarter worth approximately $122,000. Finally, Hilton Capital Management LLC grew its holdings in shares of DigitalBridge Group by 4.7% during the 4th quarter. Hilton Capital Management LLC now owns 130,712 shares of the company’s stock worth $1,474,000 after acquiring an additional 5,865 shares during the period. 92.69% of the stock is owned by institutional investors.

DigitalBridge Group Stock Performance

Shares of DigitalBridge Group stock opened at $9.55 on Monday. The company has a market cap of $1.67 billion, a P/E ratio of 318.17, a price-to-earnings-growth ratio of 3.46 and a beta of 1.91. The firm has a 50-day simple moving average of $10.75 and a two-hundred day simple moving average of $12.41. DigitalBridge Group, Inc. has a fifty-two week low of $8.95 and a fifty-two week high of $19.49.

DigitalBridge Group (NYSE:DBRG) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.03. DigitalBridge Group had a net margin of 10.98% and a return on equity of 4.29%. The business had revenue of $101.55 million during the quarter, compared to analysts’ expectations of $93.01 million. Equities research analysts forecast that DigitalBridge Group, Inc. will post 0.17 EPS for the current year.

DigitalBridge Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.01 per share. The ex-dividend date is Monday, March 31st. This represents a $0.04 dividend on an annualized basis and a yield of 0.42%. DigitalBridge Group’s dividend payout ratio (DPR) is presently 133.33%.

Analysts Set New Price Targets

A number of research firms have weighed in on DBRG. B. Riley reduced their target price on DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Truist Financial cut their price target on DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Keefe, Bruyette & Woods cut their price target on DigitalBridge Group from $14.00 to $13.50 and set a “market perform” rating on the stock in a research note on Wednesday, February 26th. Wells Fargo & Company upped their price target on DigitalBridge Group from $15.00 to $16.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Finally, Citizens Jmp upgraded DigitalBridge Group to a “strong-buy” rating in a research note on Monday, January 27th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $16.61.

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.