Akre Capital Management LLC Sells 550,346 Shares of DigitalBridge Group, Inc. (NYSE:DBRG)

Akre Capital Management LLC lessened its holdings in DigitalBridge Group, Inc. (NYSE:DBRG) by 41.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 764,730 shares of the company’s stock after selling 550,346 shares during the period. DigitalBridge Group accounts for about 0.1% of Akre Capital Management LLC’s investment portfolio, making the stock its 15th biggest holding. Akre Capital Management LLC’s holdings in DigitalBridge Group were worth $8,626,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Horizon Kinetics Asset Management LLC raised its position in shares of DigitalBridge Group by 868.9% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 4,483,340 shares of the company’s stock valued at $50,572,000 after purchasing an additional 4,020,627 shares during the period. Norges Bank acquired a new position in DigitalBridge Group in the 4th quarter valued at $7,757,000. William Blair Investment Management LLC raised its holdings in DigitalBridge Group by 27.3% in the 4th quarter. William Blair Investment Management LLC now owns 3,003,062 shares of the company’s stock worth $33,875,000 after acquiring an additional 643,705 shares during the period. Portolan Capital Management LLC lifted its position in DigitalBridge Group by 238.1% during the 4th quarter. Portolan Capital Management LLC now owns 791,932 shares of the company’s stock worth $8,933,000 after acquiring an additional 557,694 shares during the last quarter. Finally, Samjo Management LLC bought a new stake in DigitalBridge Group during the fourth quarter valued at about $5,628,000. 92.69% of the stock is currently owned by institutional investors.

DigitalBridge Group Stock Performance

Shares of DBRG stock opened at $7.95 on Friday. The firm has a fifty day moving average of $9.43 and a 200-day moving average of $11.55. DigitalBridge Group, Inc. has a 52-week low of $6.41 and a 52-week high of $17.83. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of 264.83, a P/E/G ratio of 3.46 and a beta of 1.68.

DigitalBridge Group (NYSE:DBRG) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. The firm had revenue of $101.55 million during the quarter, compared to analysts’ expectations of $93.01 million. DigitalBridge Group had a net margin of 10.98% and a return on equity of 4.29%. On average, sell-side analysts predict that DigitalBridge Group, Inc. will post 0.17 earnings per share for the current year.

DigitalBridge Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.01 per share. The ex-dividend date was Monday, March 31st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.50%. DigitalBridge Group’s payout ratio is presently 133.33%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Keefe, Bruyette & Woods dropped their price objective on DigitalBridge Group from $14.00 to $13.50 and set a “market perform” rating on the stock in a research note on Wednesday, February 26th. B. Riley dropped their price target on DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. JPMorgan Chase & Co. reduced their price objective on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, January 21st. Truist Financial dropped their target price on shares of DigitalBridge Group from $15.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. Finally, JMP Securities initiated coverage on shares of DigitalBridge Group in a research report on Monday, January 27th. They issued an “outperform” rating and a $16.00 price target on the stock. One analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $16.39.

DigitalBridge Group 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.