Private Management Group Inc. Sells 4,624 Shares of DigitalBridge Group, Inc. (NYSE:DBRG)

Private Management Group Inc. reduced its position in DigitalBridge Group, Inc. (NYSE:DBRG) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,330,594 shares of the company’s stock after selling 4,624 shares during the period. Private Management Group Inc.’s holdings in DigitalBridge Group were worth $23,339,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. New York State Common Retirement Fund raised its holdings in DigitalBridge Group by 0.3% during the fourth quarter. New York State Common Retirement Fund now owns 151,149 shares of the company’s stock worth $2,651,000 after buying an additional 514 shares during the last quarter. Arizona State Retirement System increased its position in shares of DigitalBridge Group by 1.5% during the third quarter. Arizona State Retirement System now owns 46,093 shares of the company’s stock worth $810,000 after acquiring an additional 694 shares in the last quarter. Strs Ohio increased its position in shares of DigitalBridge Group by 2.1% during the third quarter. Strs Ohio now owns 34,200 shares of the company’s stock worth $601,000 after acquiring an additional 700 shares in the last quarter. Independent Advisor Alliance raised its holdings in shares of DigitalBridge Group by 4.5% in the 3rd quarter. Independent Advisor Alliance now owns 17,076 shares of the company’s stock worth $300,000 after acquiring an additional 734 shares during the last quarter. Finally, Fulton Bank N.A. lifted its position in DigitalBridge Group by 16.8% in the 4th quarter. Fulton Bank N.A. now owns 14,459 shares of the company’s stock valued at $254,000 after acquiring an additional 2,083 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Truist Financial boosted their price objective on DigitalBridge Group from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $22.08.

DigitalBridge Group Price Performance

Shares of DBRG stock traded up $0.28 on Tuesday, hitting $17.42. The stock had a trading volume of 1,464,293 shares, compared to its average volume of 2,020,382. DigitalBridge Group, Inc. has a 12-month low of $10.20 and a 12-month high of $20.99. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 35.55 and a beta of 1.91. The business has a 50 day moving average of $18.54 and a 200 day moving average of $17.75.

DigitalBridge Group (NYSE:DBRG) last announced its 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. DigitalBridge Group had a return on equity of 2.39% and a net margin of 12.33%. The firm had revenue of $350.31 million for the quarter, compared to the consensus estimate of $287.41 million. As a group, research analysts expect that DigitalBridge Group, Inc. will post 0.25 earnings per share for the current fiscal year.

DigitalBridge Group Dividend Announcement

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

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.