DigitalBridge Group, Inc. $DBRG Shares Sold by Comerica Bank

Key Points

• Comerica Bank has reduced its stake in DigitalBridge Group, Inc. by 30.4%, holding approximately $2.17 million worth of stock after selling over 107,000 shares.
• DigitalBridge Group announced a quarterly dividend of $0.01 per share, yielding 0.4% annually, with a payout ratio currently at -100.00%.
• Analysts have mixed ratings on DigitalBridge Group, with a consensus average target price of $16.14 and two analysts giving it a Strong Buy rating.

Comerica Bank lessened its stake in DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 30.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 245,490 shares of the company's stock after selling 107,313 shares during the quarter. Comerica Bank owned about 0.14% of DigitalBridge Group worth $2,165,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Sunbelt Securities Inc. boosted its holdings in shares of DigitalBridge Group by 109.9% in the 4th quarter. Sunbelt Securities Inc. now owns 2,796 shares of the company's stock valued at $31,000 after purchasing an additional 1,464 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of DigitalBridge Group in the 4th quarter valued at $39,000. GAMMA Investing LLC boosted its holdings in shares of DigitalBridge Group by 978.9% in the 1st quarter. GAMMA Investing LLC now owns 4,445 shares of the company's stock valued at $39,000 after purchasing an additional 4,033 shares during the last quarter. Spire Wealth Management boosted its holdings in shares of DigitalBridge Group by 91.1% in the 1st quarter. Spire Wealth Management now owns 6,208 shares of the company's stock valued at $55,000 after purchasing an additional 2,960 shares during the last quarter. Finally, US Bancorp DE boosted its holdings in shares of DigitalBridge Group by 187.3% in the 1st quarter. US Bancorp DE now owns 6,265 shares of the company's stock valued at $55,000 after purchasing an additional 4,084 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

DigitalBridge Group Stock Down 0.5%

Shares of DBRG stock traded down $0.06 during mid-day trading on Friday, reaching $11.23. The company's stock had a trading volume of 1,535,525 shares, compared to its average volume of 1,801,481. The company's 50 day simple moving average is $10.91 and its 200-day simple moving average is $10.09. DigitalBridge Group, Inc. has a 12-month low of $6.41 and a 12-month high of $17.33. The firm has a market capitalization of $2.04 billion, a PE ratio of -280.63 and a beta of 1.63.

DigitalBridge Group Announces Dividend

The company 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 $0.01 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.4%. DigitalBridge Group's payout ratio is currently -100.00%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Wall Street Zen upgraded shares of DigitalBridge Group from a "sell" rating to a "hold" rating in a report on Friday. JMP Securities reissued 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. Finally, Truist Financial raised their target price on shares of DigitalBridge Group from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, DigitalBridge Group currently has a consensus rating of "Buy" and an average target price of $16.14.

DigitalBridge Group 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.