P Schoenfeld Asset Management LP Takes $2.61 Million Position in DigitalBridge Group, Inc. $DBRG

P Schoenfeld Asset Management LP acquired a new position in DigitalBridge Group, Inc. (NYSE:DBRG) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 170,000 shares of the company’s stock, valued at approximately $2,608,000. DigitalBridge Group accounts for 0.9% of P Schoenfeld Asset Management LP’s holdings, making the stock its 23rd biggest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of DigitalBridge Group by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,556 shares of the company’s stock worth $834,000 after buying an additional 4,122 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of DigitalBridge Group by 45.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,225,993 shares of the company’s stock valued at $19,633,000 after acquiring an additional 693,613 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of DigitalBridge Group by 5.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 392,094 shares of the company’s stock valued at $3,458,000 after acquiring an additional 21,930 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of DigitalBridge Group by 12.5% during the second quarter. Envestnet Asset Management Inc. now owns 11,746 shares of the company’s stock valued at $122,000 after acquiring an additional 1,309 shares during the period. Finally, Cetera Investment Advisers raised its holdings in DigitalBridge Group by 39.1% during the second quarter. Cetera Investment Advisers now owns 21,360 shares of the company’s stock worth $221,000 after purchasing an additional 6,000 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Truist Financial assumed coverage on DigitalBridge Group in a research report on Tuesday, March 31st. They issued a “buy” rating and a $16.00 target price for the company. Weiss Ratings reissued a “hold (c)” rating on shares of DigitalBridge Group in a research note on Friday, May 29th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, DigitalBridge Group currently has a consensus rating of “Hold” and an average target price of $16.00.

DigitalBridge Group Price Performance

NYSE DBRG opened at $15.72 on Monday. The company’s 50 day simple moving average is $15.62 and its 200 day simple moving average is $14.98. DigitalBridge Group, Inc. has a 12 month low of $8.94 and a 12 month high of $15.74. The company has a market capitalization of $2.87 billion, a P/E ratio of 32.07 and a beta of 1.48.

DigitalBridge Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $0.01 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.04 annualized dividend and a yield of 0.3%. DigitalBridge Group’s payout ratio is 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.