Algert Global LLC Makes New $1.01 Million Investment in DigitalBridge Group, Inc. (NYSE:DBRG)

Algert Global LLC acquired a new stake in DigitalBridge Group, Inc. (NYSE:DBRG) in the 4th quarter, Holdings Channel reports. The firm acquired 89,494 shares of the company’s stock, valued at approximately $1,009,000.

Several other hedge funds also recently modified their holdings of the business. Horizon Kinetics Asset Management LLC grew its holdings in shares of DigitalBridge Group by 868.9% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 4,483,340 shares of the company’s stock worth $50,572,000 after purchasing an additional 4,020,627 shares in the last quarter. Norges Bank bought a new position in DigitalBridge Group in the fourth quarter worth $7,757,000. William Blair Investment Management LLC boosted its stake in DigitalBridge Group by 27.3% during the fourth quarter. William Blair Investment Management LLC now owns 3,003,062 shares of the company’s stock worth $33,875,000 after buying an additional 643,705 shares in the last quarter. Portolan Capital Management LLC raised its stake in shares of DigitalBridge Group by 238.1% in the 4th quarter. Portolan Capital Management LLC now owns 791,932 shares of the company’s stock valued at $8,933,000 after buying an additional 557,694 shares in the last quarter. Finally, Argosy Lionbridge Management LLC bought a new position in shares of DigitalBridge Group during the 4th quarter worth about $5,682,000. 92.69% of the stock is owned by institutional investors.

DigitalBridge Group Trading Down 0.6 %

Shares of DBRG stock opened at $8.61 on Friday. DigitalBridge Group, Inc. has a 1 year low of $6.41 and a 1 year high of $17.33. The firm’s 50 day moving average is $8.62 and its 200-day moving average is $10.77. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 287.00, a PEG ratio of 3.46 and a beta of 1.58.

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

DigitalBridge Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $0.01 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.46%. DigitalBridge Group’s payout ratio is 13.33%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. 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 for the company. Truist Financial decreased their price target on DigitalBridge Group from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, March 25th. Citizens Jmp upgraded DigitalBridge Group to a “strong-buy” rating in a research note on Monday, January 27th. Wells Fargo & Company upped their target price on shares of DigitalBridge Group from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. reduced their price target on shares of DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 21st. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $16.06.

About DigitalBridge Group

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.