Algert Global LLC Boosts Stock Position in DigitalBridge Group, Inc. $DBRG

Key Points

• Algert Global LLC increased its stake in DigitalBridge Group, Inc. by 219.9% during the first quarter, owning approximately 286,247 shares worth $2.5 million.
• The company announced a quarterly dividend of $0.01 per share, scheduled for payment on October 15th, with an annualized yield of 0.4%.
• Analysts have set a consensus target price of $16.14 for DigitalBridge Group, with ratings ranging from "Strong Buy" to "Hold," highlighting mixed investor sentiment.

Algert Global LLC raised its position in DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 219.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 286,247 shares of the company's stock after purchasing an additional 196,753 shares during the quarter. Algert Global LLC owned 0.16% of DigitalBridge Group worth $2,525,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Lazard Asset Management LLC increased 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 last quarter. Northern Trust Corp increased its position in DigitalBridge Group by 1.8% during the fourth quarter. Northern Trust Corp now owns 1,522,539 shares of the company's stock worth $17,174,000 after buying an additional 26,930 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of DigitalBridge Group by 788.8% in the fourth quarter. Point72 Asset Management L.P. now owns 1,167,459 shares of the company's stock valued at $13,169,000 after purchasing an additional 1,036,105 shares during the last quarter. Palisade Capital Management LP grew its position in shares of DigitalBridge Group by 30.5% in the first quarter. Palisade Capital Management LP now owns 1,734,855 shares of the company's stock valued at $15,301,000 after purchasing an additional 404,960 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of DigitalBridge Group by 17.7% in the fourth quarter. Ameriprise Financial Inc. now owns 662,109 shares of the company's stock valued at $7,469,000 after purchasing an additional 99,520 shares during the last quarter. Institutional investors own 92.69% of the company's stock.

DigitalBridge Group Stock Performance

DBRG traded down $0.0450 during midday trading on Monday, reaching $11.3650. 789,670 shares of the company were exchanged, compared to its average volume of 2,630,562. The company's fifty day moving average price is $10.68 and its 200 day moving average price is $10.03. The company has a market cap of $2.07 billion, a price-to-earnings ratio of -284.38 and a beta of 1.77. DigitalBridge Group, Inc. has a one year low of $6.41 and a one year high of $17.33.

DigitalBridge Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 30th. DigitalBridge Group's payout ratio is currently -100.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on DBRG shares. Keefe, Bruyette & Woods upped their target price on DigitalBridge Group from $10.50 to $11.00 and gave the stock a "market perform" rating in a research note on Tuesday, August 12th. Wall Street Zen lowered DigitalBridge Group from a "hold" rating to a "sell" rating in a research report on Sunday, August 17th. JMP Securities reissued a "market outperform" rating and issued a $16.00 price objective on shares of DigitalBridge Group in a research report on Friday, May 16th. Finally, Truist Financial lifted their price objective on DigitalBridge Group from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $16.14.

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.