DigitalBridge Group, Inc. (NYSE:DBRG) Shares Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. raised its stake in DigitalBridge Group, Inc. (NYSE:DBRG) by 788.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,167,459 shares of the company’s stock after buying an additional 1,036,105 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.67% of DigitalBridge Group worth $13,169,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of DBRG. Spire Wealth Management purchased a new stake in shares of DigitalBridge Group in the fourth quarter valued at about $37,000. Point72 Hong Kong Ltd purchased a new stake in shares of DigitalBridge Group in the 4th quarter valued at approximately $39,000. Manchester Capital Management LLC increased its holdings in shares of DigitalBridge Group by 172.1% during the 4th quarter. Manchester Capital Management LLC now owns 4,372 shares of the company’s stock worth $49,000 after buying an additional 2,765 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of DigitalBridge Group by 114.0% during the 4th quarter. Meeder Asset Management Inc. now owns 5,087 shares of the company’s stock valued at $57,000 after buying an additional 2,710 shares during the period. Finally, KBC Group NV lifted its holdings in DigitalBridge Group by 49.3% in the fourth quarter. KBC Group NV now owns 8,326 shares of the company’s stock valued at $94,000 after acquiring an additional 2,750 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on DBRG shares. JPMorgan Chase & Co. cut their target price on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, January 21st. Keefe, Bruyette & Woods lowered their price target on DigitalBridge Group from $13.50 to $10.50 and set a “market perform” rating for the company in a report on Tuesday, May 6th. Truist Financial reduced their price objective on shares of DigitalBridge Group from $15.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. JMP Securities reaffirmed a “market outperform” rating and set a $16.00 target price on shares of DigitalBridge Group in a research note on Friday. Finally, Citizens Jmp raised shares of DigitalBridge Group to a “strong-buy” rating in a research note on Monday, January 27th. 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $16.06.

DigitalBridge Group Price Performance

NYSE DBRG opened at $12.01 on Monday. The company has a market cap of $2.10 billion, a P/E ratio of 400.37, a P/E/G ratio of 3.46 and a beta of 1.58. The stock has a 50-day moving average of $8.68 and a two-hundred day moving average of $10.52. DigitalBridge Group, Inc. has a 1-year low of $6.41 and a 1-year high of $17.33.

DigitalBridge Group (NYSE:DBRG) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.11 earnings per share for the quarter, beating 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, analysts anticipate that DigitalBridge Group, Inc. will post 0.17 EPS for the current fiscal year.

DigitalBridge Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.33%. The ex-dividend date is Monday, June 30th. DigitalBridge Group’s payout ratio is currently 13.33%.

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.