Ellis Investment Partners LLC Buys 4,298 Shares of DigitalBridge Group, Inc. (NYSE:DBRG)

Ellis Investment Partners LLC raised its position in shares of DigitalBridge Group, Inc. (NYSE:DBRG) by 10.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,926 shares of the company’s stock after purchasing an additional 4,298 shares during the quarter. Ellis Investment Partners LLC’s holdings in DigitalBridge Group were worth $602,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. nVerses Capital LLC boosted its position in shares of DigitalBridge Group by 633.3% in the 2nd quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock worth $30,000 after purchasing an additional 1,900 shares in the last quarter. Quarry LP acquired a new stake in DigitalBridge Group during the 4th quarter worth $41,000. Kingswood Wealth Advisors LLC acquired a new position in shares of DigitalBridge Group in the first quarter valued at approximately $216,000. Capstone Investment Advisors LLC purchased a new stake in DigitalBridge Group during the fourth quarter worth about $220,000. Finally, Teacher Retirement System of Texas increased its stake in shares of DigitalBridge Group by 7.2% during the 4th quarter. Teacher Retirement System of Texas now owns 13,399 shares of the company’s stock worth $235,000 after purchasing an additional 905 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

DigitalBridge Group Stock Down 4.1 %

DBRG traded down $0.49 on Friday, hitting $11.52. 2,803,126 shares of the company traded hands, compared to its average volume of 2,115,992. The company has a 50 day moving average of $13.07 and a 200-day moving average of $15.01. DigitalBridge Group, Inc. has a 12-month low of $11.34 and a 12-month high of $20.99. The stock has a market capitalization of $2.00 billion, a PE ratio of 7.43, a PEG ratio of 1.22 and a beta of 1.96.

DigitalBridge Group (NYSE:DBRG) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The firm had revenue of $390.34 million during the quarter, compared to analysts’ expectations of $97.05 million. DigitalBridge Group had a return on equity of 4.49% and a net margin of 35.10%. On average, research analysts anticipate that DigitalBridge Group, Inc. will post 0.28 EPS for the current year.

DigitalBridge Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.35%. The ex-dividend date is Monday, September 30th. DigitalBridge Group’s dividend payout ratio is currently 2.58%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on DBRG shares. B. Riley lowered their price objective on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Truist Financial reduced their target price on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Keefe, Bruyette & Woods decreased their price target on shares of DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating for the company in a report on Tuesday, June 18th. Wells Fargo & Company decreased their target price on shares of DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $19.00 price target on shares of DigitalBridge Group in a report on Wednesday, July 3rd. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, DigitalBridge Group has a consensus rating of “Buy” and a consensus price target of $19.22.

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.