Clearline Capital LP Makes New Investment in DigitalBridge Group, Inc. (NYSE:DBRG)

Clearline Capital LP acquired a new stake in DigitalBridge Group, Inc. (NYSE:DBRG) during the third quarter, HoldingsChannel.com reports. The fund acquired 528,527 shares of the company’s stock, valued at approximately $7,468,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. nVerses Capital LLC raised its position in shares of DigitalBridge Group by 633.3% during the 2nd quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock worth $30,000 after acquiring an additional 1,900 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in DigitalBridge Group during the third quarter worth approximately $34,000. Central Pacific Bank Trust Division purchased a new stake in shares of DigitalBridge Group during the 3rd quarter worth approximately $35,000. Blue Trust Inc. lifted its position in shares of DigitalBridge Group by 179.2% during the 3rd quarter. Blue Trust Inc. now owns 3,752 shares of the company’s stock worth $51,000 after buying an additional 2,408 shares during the last quarter. Finally, Headlands Technologies LLC boosted its holdings in shares of DigitalBridge Group by 33,627.3% in the 2nd quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock valued at $102,000 after buying an additional 7,398 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Truist Financial cut their price target on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Keefe, Bruyette & Woods downgraded DigitalBridge Group from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $17.75 to $14.00 in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft dropped their price target on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. JPMorgan Chase & Co. boosted their price objective on DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Finally, Wells Fargo & Company lowered their target price on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $18.13.

DigitalBridge Group Price Performance

DigitalBridge Group stock opened at $13.10 on Monday. The business has a 50 day simple moving average of $14.17 and a 200-day simple moving average of $13.51. DigitalBridge Group, Inc. has a 12 month low of $11.07 and a 12 month high of $20.99. The stock has a market capitalization of $2.28 billion, a PE ratio of 17.95, a price-to-earnings-growth ratio of 8.23 and a beta of 1.94.

DigitalBridge Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend is Tuesday, December 31st. DigitalBridge Group’s dividend payout ratio (DPR) is presently 5.48%.

DigitalBridge Group Company 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.