1,200,000 Shares in DigitalBridge Group, Inc. $DBRG Bought by Conversant Capital LLC

Key Points

• Conversant Capital LLC has made a new investment of $10.58 million in DigitalBridge Group, acquiring 1,200,000 shares to become its 10th largest holding.
• DigitalBridge recently declared a quarterly dividend of $0.01 per share, with an upcoming payment date of October 15th, reflecting a 0.4% annual yield.
• Analysts have a generally positive outlook on DigitalBridge Group, with a consensus target price of $16.14 and several analysts issuing buy ratings.

Conversant Capital LLC bought a new stake in shares of DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,200,000 shares of the company's stock, valued at approximately $10,584,000. DigitalBridge Group makes up about 1.7% of Conversant Capital LLC's holdings, making the stock its 10th biggest holding. Conversant Capital LLC owned about 0.69% of DigitalBridge Group at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of DBRG. Sunbelt Securities Inc. grew its holdings in shares of DigitalBridge Group by 109.9% during the fourth quarter. Sunbelt Securities Inc. now owns 2,796 shares of the company's stock worth $31,000 after purchasing an additional 1,464 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of DigitalBridge Group during the fourth quarter worth about $39,000. GAMMA Investing LLC grew its holdings in shares of DigitalBridge Group by 978.9% during the first quarter. GAMMA Investing LLC now owns 4,445 shares of the company's stock worth $39,000 after purchasing an additional 4,033 shares in the last quarter. Spire Wealth Management grew its holdings in shares of DigitalBridge Group by 91.1% during the first quarter. Spire Wealth Management now owns 6,208 shares of the company's stock worth $55,000 after purchasing an additional 2,960 shares in the last quarter. Finally, US Bancorp DE grew its holdings in shares of DigitalBridge Group by 187.3% during the first quarter. US Bancorp DE now owns 6,265 shares of the company's stock worth $55,000 after purchasing an additional 4,084 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

Analyst Upgrades and Downgrades

DBRG has been the subject of several recent analyst reports. JMP Securities reissued a "market outperform" rating and set a $16.00 price objective on shares of DigitalBridge Group in a report on Friday, May 16th. Truist Financial boosted their price objective on DigitalBridge Group from $15.00 to $16.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Keefe, Bruyette & Woods boosted their target price on DigitalBridge Group from $10.50 to $11.00 and gave the stock a "market perform" rating in a research report on Tuesday, August 12th. Finally, Wall Street Zen downgraded DigitalBridge Group from a "hold" rating to a "sell" rating in a research report on Sunday, August 17th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $16.14.

DigitalBridge Group Stock Performance

Shares of DigitalBridge Group stock traded up $0.07 during midday trading on Wednesday, reaching $11.31. 612,706 shares of the company's stock traded hands, compared to its average volume of 2,598,134. The company has a market cap of $2.06 billion, a PE ratio of -283.53 and a beta of 1.63. The stock has a 50 day moving average of $10.85 and a 200-day moving average of $10.07. DigitalBridge Group, Inc. has a 12 month low of $6.41 and a 12 month high of $17.33.

DigitalBridge Group Announces Dividend

The company also recently declared 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 yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 30th. DigitalBridge Group's dividend payout ratio is presently -100.00%.

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.