DigitalBridge Group (NYSE:DBRG) Sees Large Volume Increase – Here’s What Happened

DigitalBridge Group, Inc. (NYSE:DBRG) saw unusually-high trading volume on Monday . Approximately 2,906,881 shares traded hands during trading, an increase of 69% from the previous session’s volume of 1,718,233 shares.The stock last traded at $10.45 and had previously closed at $10.61.

Analyst Ratings Changes

Several brokerages have recently commented on DBRG. Wells Fargo & Company lowered their target price on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Truist Financial decreased their price objective on shares of DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, December 11th. B. Riley cut their target price on DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Raymond James reduced their target price on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a report on Tuesday, November 5th. Finally, Keefe, Bruyette & Woods lowered DigitalBridge Group from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $17.75 to $14.00 in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $17.38.

DigitalBridge Group Stock Performance

The company has a market cap of $1.86 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 13.76 and a beta of 1.91. The company’s 50 day moving average price is $11.95 and its 200-day moving average price is $13.16.

DigitalBridge Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend is Tuesday, December 31st. DigitalBridge Group’s dividend payout ratio is currently 5.48%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp raised its stake in DigitalBridge Group by 12.0% in the 3rd quarter. State Street Corp now owns 4,427,379 shares of the company’s stock valued at $62,603,000 after acquiring an additional 474,101 shares during the period. Geode Capital Management LLC raised its position in shares of DigitalBridge Group by 8.3% in the third quarter. Geode Capital Management LLC now owns 4,167,413 shares of the company’s stock valued at $58,895,000 after purchasing an additional 317,776 shares during the period. New South Capital Management Inc. raised its position in shares of DigitalBridge Group by 0.3% in the third quarter. New South Capital Management Inc. now owns 3,940,203 shares of the company’s stock valued at $55,675,000 after purchasing an additional 10,441 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of DigitalBridge Group by 27.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,640,632 shares of the company’s stock valued at $51,442,000 after buying an additional 791,506 shares in the last quarter. Finally, Legion Partners Asset Management LLC boosted its holdings in DigitalBridge Group by 3.3% in the 2nd quarter. Legion Partners Asset Management LLC now owns 3,453,253 shares of the company’s stock worth $47,310,000 after buying an additional 111,243 shares during the period. Institutional investors own 92.69% of the company’s stock.

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.