DigitalBridge Group, Inc. (NYSE:DBRG) Position Trimmed by Otter Creek Advisors LLC

Otter Creek Advisors LLC reduced its holdings in DigitalBridge Group, Inc. (NYSE:DBRG) by 39.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 51,903 shares of the company’s stock after selling 33,520 shares during the quarter. Otter Creek Advisors LLC’s holdings in DigitalBridge Group were worth $711,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. New South Capital Management Inc. lifted its holdings 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 worth $53,838,000 after purchasing an additional 1,125,549 shares during the last quarter. Wafra Inc. increased its position in DigitalBridge Group by 7.1% in the second quarter. Wafra Inc. now owns 15,455,808 shares of the company’s stock worth $211,745,000 after buying an additional 1,020,409 shares during the period. Arizona State Retirement System lifted its stake in DigitalBridge Group by 1.9% in the second quarter. Arizona State Retirement System now owns 45,735 shares of the company’s stock valued at $627,000 after buying an additional 872 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of DigitalBridge Group by 4.1% during the second quarter. Victory Capital Management Inc. now owns 22,165 shares of the company’s stock valued at $304,000 after acquiring an additional 870 shares during the period. Finally, National Bank of Canada FI boosted its holdings in shares of DigitalBridge Group by 15.3% during the second quarter. National Bank of Canada FI now owns 358,003 shares of the company’s stock valued at $4,747,000 after acquiring an additional 47,468 shares during the period. 92.69% of the stock is owned by institutional investors and hedge funds.

DigitalBridge Group Price Performance

DBRG opened at $11.52 on Friday. DigitalBridge Group, Inc. has a 1-year low of $11.34 and a 1-year high of $20.99. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 7.43, a price-to-earnings-growth ratio of 1.22 and a beta of 1.96. The business has a 50 day moving average price of $13.07 and a two-hundred day moving average price of $15.01.

DigitalBridge Group (NYSE:DBRG) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). The firm had revenue of $390.34 million during the quarter, compared to analyst estimates of $97.05 million. DigitalBridge Group had a net margin of 35.10% and a return on equity of 4.49%. Equities analysts expect that DigitalBridge Group, Inc. will post 0.28 EPS for the current fiscal year.

DigitalBridge Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend 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%.

Analysts Set New Price Targets

DBRG has been the topic of a number of analyst reports. Truist Financial dropped their price objective on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Keefe, Bruyette & Woods cut their price target on DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating on the stock in a report on Tuesday, June 18th. B. Riley reduced their price objective on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Royal Bank of Canada restated an “outperform” rating and issued a $19.00 target price on shares of DigitalBridge Group in a research report on Wednesday, July 3rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, DigitalBridge Group has an average rating of “Buy” and an average price target of $19.22.

DigitalBridge Group Company Profile

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.