Algert Global LLC Takes $1.01 Million Position in DigitalBridge Group, Inc. (NYSE:DBRG)

Algert Global LLC purchased a new stake in shares of DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 89,494 shares of the company's stock, valued at approximately $1,009,000. Algert Global LLC owned 0.05% of DigitalBridge Group at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of DBRG. Spire Wealth Management acquired a new position in DigitalBridge Group during the fourth quarter valued at $37,000. Manchester Capital Management LLC increased its position in DigitalBridge Group by 172.1% in the 4th quarter. Manchester Capital Management LLC now owns 4,372 shares of the company's stock worth $49,000 after purchasing an additional 2,765 shares during the last quarter. Meeder Asset Management Inc. increased its position in DigitalBridge Group by 114.0% in the 4th quarter. Meeder Asset Management Inc. now owns 5,087 shares of the company's stock worth $57,000 after purchasing an additional 2,710 shares during the last quarter. KBC Group NV increased its position in DigitalBridge Group by 49.3% in the 4th quarter. KBC Group NV now owns 8,326 shares of the company's stock worth $94,000 after purchasing an additional 2,750 shares during the last quarter. Finally, Blue Trust Inc. increased its position in DigitalBridge Group by 164.0% in the 4th quarter. Blue Trust Inc. now owns 9,905 shares of the company's stock worth $112,000 after purchasing an additional 6,153 shares during the last quarter. 92.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DBRG. JMP Securities began coverage on DigitalBridge Group in a research report on Monday, January 27th. They issued an "outperform" rating and a $16.00 target price on the stock. Truist Financial decreased their target price on DigitalBridge Group from $15.00 to $13.00 and set a "buy" rating for the company in a research note on Tuesday, March 25th. Keefe, Bruyette & Woods decreased their target price on DigitalBridge Group from $13.50 to $10.50 and set a "market perform" rating for the company in a research note on Tuesday, May 6th. Citizens Jmp upgraded DigitalBridge Group to a "strong-buy" rating in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. reduced their price objective on DigitalBridge Group from $20.00 to $18.00 and set an "overweight" rating for the company in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $16.06.

DigitalBridge Group Price Performance

Shares of DigitalBridge Group stock traded down $0.04 during midday trading on Friday, hitting $11.79. 2,616,304 shares of the company were exchanged, compared to its average volume of 2,531,949. The firm has a market cap of $2.06 billion, a P/E ratio of 393.00, a PEG ratio of 3.46 and a beta of 1.58. DigitalBridge Group, Inc. has a 52 week low of $6.41 and a 52 week high of $17.33. The firm has a 50 day simple moving average of $8.62 and a 200-day simple moving average of $10.62.

DigitalBridge Group (NYSE:DBRG - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.03. DigitalBridge Group had a return on equity of 4.29% and a net margin of 10.98%. The firm had revenue of $101.55 million during the quarter, compared to the consensus estimate of $93.01 million. Equities research analysts expect that DigitalBridge Group, Inc. will post 0.17 earnings per share for the current year.

DigitalBridge Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.34%. 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.