Akre Capital Management LLC Sells 599,990 Shares of DigitalBridge Group, Inc. $DBRG

Key Points

• Akre Capital Management LLC sold 599,990 shares of DigitalBridge Group, reducing its stake by 78.5% to 164,740 shares, accounting for only 0.0% of its holdings.
• DigitalBridge Group announced a quarterly dividend of $0.01 per share, with a payout ratio of -100.00%, indicating the company does not currently generate enough earnings to cover dividend payments.
• Analysts have set an average price target of $16.00 for DigitalBridge Group stock, with ratings ranging from “sell” to “strong buy” among various research firms.

Akre Capital Management LLC lessened its holdings in shares of DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 78.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 164,740 shares of the company's stock after selling 599,990 shares during the quarter. DigitalBridge Group comprises approximately 0.0% of Akre Capital Management LLC's portfolio, making the stock its 18th biggest holding. Akre Capital Management LLC owned 0.09% of DigitalBridge Group worth $1,453,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of DBRG. Lazard Asset Management LLC boosted its position in shares of DigitalBridge Group by 384.5% in the fourth quarter. Lazard Asset Management LLC now owns 3,346,966 shares of the company's stock valued at $37,753,000 after acquiring an additional 2,656,100 shares during the period. Lind Value II ApS purchased a new stake in DigitalBridge Group in the first quarter valued at approximately $17,479,000. Brown Advisory Inc. raised its stake in DigitalBridge Group by 78.2% in the fourth quarter. Brown Advisory Inc. now owns 3,658,935 shares of the company's stock valued at $41,273,000 after purchasing an additional 1,605,391 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in DigitalBridge Group by 128.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,302,415 shares of the company's stock valued at $25,971,000 after purchasing an additional 1,294,275 shares in the last quarter. Finally, Frontier Capital Management Co. LLC raised its stake in DigitalBridge Group by 28.0% in the fourth quarter. Frontier Capital Management Co. LLC now owns 5,575,225 shares of the company's stock valued at $62,889,000 after purchasing an additional 1,218,901 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

DigitalBridge Group Stock Performance

Shares of NYSE DBRG traded down $0.0250 during mid-day trading on Tuesday, hitting $11.1050. The stock had a trading volume of 1,544,417 shares, compared to its average volume of 1,891,106. DigitalBridge Group, Inc. has a 1 year low of $6.41 and a 1 year high of $17.33. The business has a 50 day moving average price of $10.63 and a two-hundred day moving average price of $10.02. The firm has a market cap of $2.02 billion, a P/E ratio of 53.00 and a beta of 1.77.

DigitalBridge Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 30th. DigitalBridge Group's payout ratio is presently -100.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on DBRG shares. JMP Securities reaffirmed a "market outperform" rating and issued a $16.00 target price on shares of DigitalBridge Group in a research note on Friday, May 16th. Keefe, Bruyette & Woods raised their target price on shares of DigitalBridge Group from $10.50 to $11.00 and gave the company a "market perform" rating in a research note on Tuesday, August 12th. Wall Street Zen downgraded shares of DigitalBridge Group from a "hold" rating to a "sell" rating in a research note on Sunday. Finally, Truist Financial lifted their price target on shares of DigitalBridge Group from $13.00 to $15.00 and gave the stock a "buy" rating in a research note on Tuesday, June 3rd. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $16.00.

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.