DAVENPORT & Co LLC Takes $13.35 Million Position in DigitalBridge Group, Inc. $DBRG

Key Points

• DAVENPORT & Co LLC acquired a new stake in DigitalBridge Group, Inc. valued at approximately $13.35 million, holding 1.3 million shares as reported in their Form 13F filing.
• Other institutional investors like Massachusetts Financial Services and Invesco Ltd. have also increased their stakes in DigitalBridge Group, showcasing strong interest from hedge funds.
• The company declared a quarterly dividend of $0.01 per share, with an ex-dividend date of September 30th, reflecting a negative payout ratio of -100.00%.

DAVENPORT & Co LLC acquired a new stake in shares of DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,300,000 shares of the company's stock, valued at approximately $13,351,000. DAVENPORT & Co LLC owned 0.74% of DigitalBridge Group as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its stake in shares of DigitalBridge Group by 16.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,029,913 shares of the company's stock worth $35,544,000 after purchasing an additional 567,170 shares during the period. Brown Advisory Inc. increased its stake in DigitalBridge Group by 0.9% in the first quarter. Brown Advisory Inc. now owns 3,692,895 shares of the company's stock valued at $32,571,000 after purchasing an additional 33,960 shares during the last quarter. Invesco Ltd. lifted its position in DigitalBridge Group by 7.2% during the first quarter. Invesco Ltd. now owns 3,551,228 shares of the company's stock worth $31,322,000 after buying an additional 237,503 shares during the period. Private Management Group Inc. boosted its stake in DigitalBridge Group by 65.9% in the 1st quarter. Private Management Group Inc. now owns 2,461,756 shares of the company's stock worth $21,713,000 after buying an additional 978,162 shares during the last quarter. Finally, Clearline Capital LP grew its holdings in DigitalBridge Group by 189.8% in the 1st quarter. Clearline Capital LP now owns 2,286,782 shares of the company's stock valued at $20,169,000 after buying an additional 1,497,664 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

DigitalBridge Group Price Performance

DigitalBridge Group stock opened at $11.89 on Tuesday. DigitalBridge Group, Inc. has a 12-month low of $6.41 and a 12-month high of $17.33. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -297.25 and a beta of 1.66. The firm's fifty day moving average price is $11.39 and its 200 day moving average price is $10.31.

DigitalBridge Group Dividend Announcement

The firm 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. The ex-dividend date is Tuesday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. DigitalBridge Group's payout ratio is -100.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DBRG shares. Keefe, Bruyette & Woods lifted their price target on shares of DigitalBridge Group from $10.50 to $11.00 and gave the company a "market perform" rating in a report on Tuesday, August 12th. Wall Street Zen raised shares of DigitalBridge Group from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Truist Financial boosted their price objective on shares of DigitalBridge Group from $15.00 to $16.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of DigitalBridge Group in a research note on Saturday, September 27th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.

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