Azora Capital LP Sells 3,203,014 Shares of DigitalBridge Group, Inc. $DBRG

Azora Capital LP trimmed its position in shares of DigitalBridge Group, Inc. (NYSE:DBRG) by 86.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 500,720 shares of the company’s stock after selling 3,203,014 shares during the period. Azora Capital LP owned approximately 0.27% of DigitalBridge Group worth $7,681,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Guggenheim Capital LLC bought a new stake in DigitalBridge Group during the fourth quarter valued at about $323,000. AQR Arbitrage LLC bought a new stake in DigitalBridge Group during the fourth quarter valued at about $17,072,000. AQR Capital Management LLC boosted its holdings in DigitalBridge Group by 20.3% during the fourth quarter. AQR Capital Management LLC now owns 429,029 shares of the company’s stock valued at $6,581,000 after acquiring an additional 72,370 shares during the period. Cetera Investment Advisers boosted its holdings in DigitalBridge Group by 4.4% during the fourth quarter. Cetera Investment Advisers now owns 28,921 shares of the company’s stock valued at $444,000 after acquiring an additional 1,214 shares during the period. Finally, Meteora Capital LLC bought a new stake in DigitalBridge Group during the fourth quarter valued at about $1,606,000. 92.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DBRG has been the subject of a number of recent analyst reports. Truist Financial initiated coverage on shares of DigitalBridge Group in a report on Tuesday, March 31st. They set a “buy” rating and a $16.00 price target for the company. Weiss Ratings restated a “hold (c)” rating on shares of DigitalBridge Group in a report on Friday, May 29th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $16.00.

DigitalBridge Group Stock Performance

Shares of DBRG opened at $15.72 on Thursday. The company has a 50-day simple moving average of $15.64 and a 200-day simple moving average of $15.11. The firm has a market capitalization of $2.87 billion, a P/E ratio of 32.07 and a beta of 1.48. DigitalBridge Group, Inc. has a 52 week low of $8.94 and a 52 week high of $15.77.

DigitalBridge Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. DigitalBridge Group’s dividend payout ratio is currently 8.16%.

DigitalBridge Group Profile

DigitalBridge Group, Inc (NYSE: DBRG) is a specialized global investment firm focused exclusively on digital infrastructure. The company originates, acquires, and manages a diversified portfolio of businesses that support the digital economy, including data centers, cell towers, small cells, fiber networks, edge infrastructure and related services. DigitalBridge seeks to generate sustainable, long-term returns for its investors by deploying capital into high-growth sectors driven by increasing data consumption, 5G deployment and cloud adoption.

Through its dedicated investment platforms, DigitalBridge provides equity and debt financing solutions to operators and owners of digital infrastructure assets.