Short Interest in DigitalBridge Group, Inc. (NYSE:DBRG) Grows By 12.1%

DigitalBridge Group, Inc. (NYSE:DBRG) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 15,050,000 shares, a growth of 12.1% from the August 15th total of 13,430,000 shares. Currently, 8.8% of the shares of the stock are sold short. Based on an average trading volume of 1,870,000 shares, the days-to-cover ratio is presently 8.0 days.

DigitalBridge Group Stock Performance

Shares of DigitalBridge Group stock opened at $14.09 on Wednesday. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 9.09, a price-to-earnings-growth ratio of 1.78 and a beta of 1.96. The company has a fifty day moving average of $13.07 and a 200-day moving average of $14.74. DigitalBridge Group has a 52-week low of $11.07 and a 52-week high of $20.99.

DigitalBridge Group (NYSE:DBRG) last released its earnings results on Wednesday, August 7th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). DigitalBridge Group had a net margin of 35.10% and a return on equity of 4.49%. The company had revenue of $390.34 million during the quarter, compared to the consensus estimate of $97.05 million. On average, equities research analysts forecast that DigitalBridge Group will post 0.2 earnings per share for the current fiscal year.

DigitalBridge Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend is Monday, September 30th. DigitalBridge Group’s payout ratio is 2.58%.

Institutional Investors Weigh In On DigitalBridge Group

Institutional investors and hedge funds have recently bought and sold shares of the business. 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. Quarry LP purchased a new stake in shares of DigitalBridge Group in the 4th quarter worth about $41,000. Headlands Technologies LLC increased its stake in shares of DigitalBridge Group by 33,627.3% during the second quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock valued at $102,000 after purchasing an additional 7,398 shares in the last quarter. Xponance Inc. bought a new position in DigitalBridge Group during the 2nd quarter valued at approximately $138,000. Finally, Federated Hermes Inc. raised its position in shares of DigitalBridge Group by 944.8% in the 2nd quarter. Federated Hermes Inc. now owns 10,166 shares of the company’s stock worth $139,000 after purchasing an additional 9,193 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on DBRG shares. Keefe, Bruyette & Woods decreased their target price on shares of DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating on the stock in a report on Tuesday, June 18th. Raymond James dropped their price objective on DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating for the company in a research note on Thursday, August 8th. B. Riley decreased their target price on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft cut their price objective on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Finally, Wells Fargo & Company lowered their target price on shares of DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $19.22.

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.