Iridian Asset Management LLC CT Boosts Stake in DigitalBridge Group, Inc. $DBRG

Iridian Asset Management LLC CT lifted its holdings in DigitalBridge Group, Inc. (NYSE:DBRG) by 13.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 399,393 shares of the company’s stock after buying an additional 48,376 shares during the period. DigitalBridge Group makes up approximately 1.8% of Iridian Asset Management LLC CT’s portfolio, making the stock its 17th biggest holding. Iridian Asset Management LLC CT owned 0.22% of DigitalBridge Group worth $4,673,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Azora Capital LP bought a new stake in DigitalBridge Group during the second quarter worth $23,579,000. Long Pond Capital LP purchased a new stake in shares of DigitalBridge Group during the 2nd quarter valued at $13,747,000. Frontier Capital Management Co. LLC increased its position in shares of DigitalBridge Group by 29.8% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 5,669,342 shares of the company’s stock valued at $58,678,000 after purchasing an additional 1,302,150 shares during the last quarter. DAVENPORT & Co LLC bought a new stake in shares of DigitalBridge Group during the 2nd quarter worth $13,351,000. Finally, Segall Bryant & Hamill LLC boosted its holdings in shares of DigitalBridge Group by 65.8% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 2,343,736 shares of the company’s stock worth $24,258,000 after buying an additional 929,920 shares during the last quarter. 92.69% of the stock is owned by institutional investors.

DigitalBridge Group Stock Performance

Shares of NYSE DBRG opened at $15.36 on Monday. DigitalBridge Group, Inc. has a fifty-two week low of $6.41 and a fifty-two week high of $15.55. The stock has a market cap of $2.80 billion, a PE ratio of 255.96 and a beta of 1.69. The stock has a fifty day moving average of $12.35 and a 200-day moving average of $11.74.

DigitalBridge Group (NYSE:DBRG) last issued its earnings results on Thursday, March 21st. The company reported ($0.07) EPS for the quarter. The business had revenue of $232.83 million during the quarter. On average, sell-side analysts predict that DigitalBridge Group, Inc. will post 0.17 EPS for the current year.

DigitalBridge Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Wednesday, December 31st. DigitalBridge Group’s dividend payout ratio (DPR) is 66.67%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on DBRG shares. B. Riley downgraded shares of DigitalBridge Group from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $20.00 to $16.00 in a report on Tuesday, December 30th. Keefe, Bruyette & Woods raised their price target on shares of DigitalBridge Group from $13.50 to $16.00 and gave the stock a “market perform” rating in a research note on Tuesday, December 30th. Citizens Jmp downgraded DigitalBridge Group from a “market outperform” rating to a “hold” rating and set a $16.00 price objective on the stock. in a research note on Monday, December 29th. Weiss Ratings reissued a “sell (d+)” rating on shares of DigitalBridge Group in a report on Wednesday, October 8th. Finally, TD Cowen lowered shares of DigitalBridge Group from a “buy” rating to a “hold” rating and set a $16.00 target price for the company. in a research report on Tuesday, December 30th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, DigitalBridge Group has an average rating of “Hold” and an average target price of $16.22.

About DigitalBridge Group

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.