DigitalBridge Group, Inc. (NYSE:DBRG) Sees Large Decrease in Short Interest

DigitalBridge Group, Inc. (NYSE:DBRG) was the recipient of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 20,240,000 shares, a decline of 10.1% from the March 15th total of 22,510,000 shares. Based on an average daily trading volume, of 2,100,000 shares, the short-interest ratio is currently 9.6 days. Currently, 12.5% of the company’s stock are short sold.

DigitalBridge Group Stock Performance

Shares of NYSE:DBRG traded down $0.18 during midday trading on Wednesday, hitting $17.52. 529,847 shares of the stock were exchanged, compared to its average volume of 2,038,124. The company has a market capitalization of $2.86 billion, a PE ratio of 36.12 and a beta of 1.91. DigitalBridge Group has a 52-week low of $10.20 and a 52-week high of $20.99. The business’s fifty day simple moving average is $18.78 and its two-hundred day simple moving average is $17.71.

DigitalBridge Group (NYSE:DBRG) last posted its quarterly earnings results on Tuesday, February 20th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.06. The company had revenue of $350.31 million during the quarter, compared to the consensus estimate of $287.41 million. DigitalBridge Group had a return on equity of 2.39% and a net margin of 12.33%. As a group, equities analysts anticipate that DigitalBridge Group will post -0.14 EPS for the current year.

DigitalBridge Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Sunday, March 31st were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend was Wednesday, March 27th. DigitalBridge Group’s payout ratio is presently 8.16%.

Wall Street Analyst Weigh In

Separately, Truist Financial raised their price objective on DigitalBridge Group from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, DigitalBridge Group has a consensus rating of “Buy” and an average price target of $22.08.

Institutional Investors Weigh In On DigitalBridge Group

A number of large investors have recently bought and sold shares of the business. Pacer Advisors Inc. bought a new stake in shares of DigitalBridge Group during the 4th quarter worth about $19,351,000. Vanguard Group Inc. boosted its position in DigitalBridge Group by 0.4% during the third quarter. Vanguard Group Inc. now owns 23,377,984 shares of the company’s stock worth $410,985,000 after purchasing an additional 83,381 shares during the period. Wellington Management Group LLP bought a new stake in DigitalBridge Group during the third quarter worth approximately $47,948,000. Raymond James & Associates grew its holdings in DigitalBridge Group by 311.5% during the fourth quarter. Raymond James & Associates now owns 469,647 shares of the company’s stock valued at $8,238,000 after purchasing an additional 355,524 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of DigitalBridge Group by 2.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,515,517 shares of the company’s stock valued at $26,643,000 after purchasing an additional 33,936 shares during the period. 92.69% of the stock is currently owned by institutional investors.

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.