Horizon Kinetics Asset Management LLC Invests $6.54 Million in DigitalBridge Group, Inc. (NYSE:DBRG)

Horizon Kinetics Asset Management LLC acquired a new stake in DigitalBridge Group, Inc. (NYSE:DBRG) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 462,713 shares of the company’s stock, valued at approximately $6,538,000. Horizon Kinetics Asset Management LLC owned about 0.27% of DigitalBridge Group as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. raised 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 buying an additional 870 shares during the last quarter. Arizona State Retirement System raised its stake in DigitalBridge Group by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 45,735 shares of the company’s stock valued at $627,000 after acquiring an additional 872 shares in the last quarter. Fulton Bank N.A. boosted its position in DigitalBridge Group by 3.2% during the 3rd quarter. Fulton Bank N.A. now owns 28,372 shares of the company’s stock worth $401,000 after acquiring an additional 878 shares during the period. King Luther Capital Management Corp increased its holdings in shares of DigitalBridge Group by 1.3% during the second quarter. King Luther Capital Management Corp now owns 71,038 shares of the company’s stock valued at $973,000 after purchasing an additional 942 shares during the period. Finally, nVerses Capital LLC raised its stake in shares of DigitalBridge Group by 633.3% during the second quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock valued at $30,000 after purchasing an additional 1,900 shares in the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

DigitalBridge Group Stock Performance

DigitalBridge Group stock opened at $12.65 on Monday. DigitalBridge Group, Inc. has a 52 week low of $11.07 and a 52 week high of $20.99. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 16.89, a P/E/G ratio of 2.17 and a beta of 1.94. The company has a 50 day moving average price of $14.30 and a 200 day moving average price of $13.56.

DigitalBridge Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.04 annualized dividend and a dividend yield of 0.32%. DigitalBridge Group’s dividend payout ratio (DPR) is presently 5.48%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on DBRG shares. Truist Financial decreased their price objective on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. JPMorgan Chase & Co. boosted their price target on shares of DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Wells Fargo & Company lowered their price objective on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Keefe, Bruyette & Woods cut shares of DigitalBridge Group from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $17.75 to $14.00 in a report on Wednesday, November 6th. Finally, Raymond James dropped their price target on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, DigitalBridge Group has a consensus rating of “Buy” and a consensus target price of $18.13.

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.