DigitalBridge Group, Inc. $DBRG Shares Purchased by Portolan Capital Management LLC

Key Points

• Portolan Capital increased its stake by 77.4% in Q3 to 5,468,226 shares (about 2.99% of DigitalBridge), worth roughly $63.98 million and making DBRG its fourth-largest holding; institutional investors own about 92.69% of the stock.
• DigitalBridge shares opened at $15.38, trading near a 50-day MA of $15.40 and a 200-day MA of $13.17, with a 52-week range of $6.41–$15.55 and a market cap of $2.81 billion (P/E 34.17).
• The company declared a quarterly dividend of $0.01 (annualized $0.04, yield 0.3%; ex-dividend Mar 31, pay Apr 15), and analysts hold a consensus Hold rating with a $16 price target after several downgrades.

Portolan Capital Management LLC raised its stake in shares of DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 77.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,468,226 shares of the company's stock after buying an additional 2,386,066 shares during the quarter. DigitalBridge Group comprises about 3.5% of Portolan Capital Management LLC's investment portfolio, making the stock its 4th biggest position. Portolan Capital Management LLC owned about 2.99% of DigitalBridge Group worth $63,978,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of DBRG. CWM LLC lifted its holdings in DigitalBridge Group by 2.5% in the 3rd quarter. CWM LLC now owns 31,239 shares of the company's stock worth $365,000 after buying an additional 755 shares in the last quarter. Stoneridge Investment Partners LLC raised its holdings in DigitalBridge Group by 7.9% in the third quarter. Stoneridge Investment Partners LLC now owns 14,153 shares of the company's stock valued at $166,000 after acquiring an additional 1,037 shares in the last quarter. Arizona State Retirement System boosted its stake in DigitalBridge Group by 2.4% during the 3rd quarter. Arizona State Retirement System now owns 52,115 shares of the company's stock valued at $610,000 after acquiring an additional 1,244 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in DigitalBridge Group by 12.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 11,746 shares of the company's stock worth $122,000 after acquiring an additional 1,309 shares in the last quarter. Finally, Tidal Investments LLC grew its holdings in DigitalBridge Group by 1.8% during the 2nd quarter. Tidal Investments LLC now owns 114,559 shares of the company's stock worth $1,186,000 after acquiring an additional 1,986 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company's stock.

DigitalBridge Group Stock Performance

DigitalBridge Group stock opened at $15.38 on Friday. The firm's 50-day moving average is $15.40 and its 200-day moving average is $13.17. DigitalBridge Group, Inc. has a 1 year low of $6.41 and a 1 year high of $15.55. The company has a market cap of $2.81 billion, a P/E ratio of 34.17 and a beta of 1.67.

DigitalBridge Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.01 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.04 annualized dividend and a yield of 0.3%. DigitalBridge Group's dividend payout ratio is 8.89%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Weiss Ratings raised shares of DigitalBridge Group from a "sell (d+)" rating to a "hold (c)" rating in a research report on Monday, March 2nd. Raymond James Financial lowered DigitalBridge Group from a "strong-buy" rating to an "underperform" rating in a report on Tuesday, January 27th. Royal Bank Of Canada cut DigitalBridge Group from an "outperform" rating to a "sector perform" rating and cut their price objective for the company from $23.00 to $16.00 in a research note on Tuesday, December 30th. Citizens Jmp downgraded DigitalBridge Group from a "market outperform" rating to a "hold" rating and set a $16.00 target price on the stock. in a report on Monday, December 29th. Finally, B. Riley Financial lowered DigitalBridge Group from a "buy" rating to a "hold" rating and decreased their target price for the stock from $20.00 to $16.00 in a research report on Tuesday, December 30th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $16.00.

DigitalBridge Group Profile

DigitalBridge Group, Inc NYSE: DBRG is a specialized global investment firm focused exclusively on digital infrastructure. The company originates, acquires, and manages a diversified portfolio of businesses that support the digital economy, including data centers, cell towers, small cells, fiber networks, edge infrastructure and related services. DigitalBridge seeks to generate sustainable, long-term returns for its investors by deploying capital into high-growth sectors driven by increasing data consumption, 5G deployment and cloud adoption.

Through its dedicated investment platforms, DigitalBridge provides equity and debt financing solutions to operators and owners of digital infrastructure assets.

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