DigitalBridge Group, Inc. (NYSE:DBRG) Short Interest Down 9.0% in November

DigitalBridge Group, Inc. (NYSE:DBRG) saw a significant drop in short interest in November. As of November 15th, there was short interest totalling 15,360,000 shares, a drop of 9.0% from the October 31st total of 16,870,000 shares. Based on an average daily trading volume, of 3,020,000 shares, the days-to-cover ratio is presently 5.1 days. Approximately 8.9% of the shares of the stock are short sold.

DigitalBridge Group Trading Up 2.1 %

Shares of NYSE DBRG traded up $0.27 during mid-day trading on Monday, hitting $13.37. The company had a trading volume of 755,576 shares, compared to its average volume of 2,370,877. The stock’s 50-day moving average price is $14.17 and its 200-day moving average price is $13.51. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 8.23 and a beta of 1.94. DigitalBridge Group has a 1 year low of $11.07 and a 1 year high of $20.99.

DigitalBridge Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend is Tuesday, December 31st. DigitalBridge Group’s dividend payout ratio (DPR) is presently 5.48%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DBRG. Wells Fargo & Company decreased their target price on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Raymond James dropped their price objective on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, November 5th. Truist Financial decreased their target price on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft decreased their target price on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Finally, Keefe, Bruyette & Woods lowered DigitalBridge Group from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $17.75 to $14.00 in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $18.13.

Institutional Investors Weigh In On DigitalBridge Group

Institutional investors have recently added to or reduced their stakes in the company. nVerses Capital LLC lifted its position in shares of DigitalBridge Group by 633.3% in the 2nd quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock worth $30,000 after purchasing an additional 1,900 shares during the period. Meeder Asset Management Inc. bought a new stake in shares of DigitalBridge Group in the third quarter worth approximately $34,000. Central Pacific Bank Trust Division purchased a new position in shares of DigitalBridge Group in the third quarter worth approximately $35,000. Blue Trust Inc. boosted its holdings in shares of DigitalBridge Group by 179.2% in the third quarter. Blue Trust Inc. now owns 3,752 shares of the company’s stock worth $51,000 after buying an additional 2,408 shares during the last quarter. Finally, Headlands Technologies LLC boosted its holdings in shares of DigitalBridge Group by 33,627.3% in the second quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock worth $102,000 after buying an additional 7,398 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

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.