DigitalBridge Group, Inc. $DBRG Shares Sold by Rockbridge Capital Management LLC

Key Points

• Rockbridge Capital Management LLC reduced its stake in DigitalBridge Group by 4.7%, selling 21,354 shares, but still holds approximately 2.5% of the company's shares in its portfolio.
• DigitalBridge Group announced a quarterly dividend of $0.01 per share, reflecting an annualized dividend yield of 0.3%, with a dividend payout ratio of -100.00%.
• Shares of DigitalBridge Group recently traded at $13.83 and showed a market cap of $2.52 billion, while analysts have a consensus rating of "Moderate Buy" and an average target price of $16.14.

Rockbridge Capital Management LLC cut its stake in shares of DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 4.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 430,398 shares of the company's stock after selling 21,354 shares during the quarter. DigitalBridge Group makes up approximately 2.5% of Rockbridge Capital Management LLC's portfolio, making the stock its 13th biggest position. Rockbridge Capital Management LLC owned 0.24% of DigitalBridge Group worth $4,455,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in 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 during the last quarter. Spire Wealth Management lifted its stake in 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 during the last quarter. US Bancorp DE lifted its stake in 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 during the last quarter. Headlands Technologies LLC lifted its stake in DigitalBridge Group by 200.5% during the first quarter. Headlands Technologies LLC now owns 8,774 shares of the company's stock worth $77,000 after purchasing an additional 5,854 shares during the last quarter. Finally, NCM Capital Management LLC purchased a new stake in DigitalBridge Group during the first quarter worth approximately $92,000. Hedge funds and other institutional investors own 92.69% of the company's stock.

DigitalBridge Group Trading Up 2.6%

Shares of NYSE DBRG opened at $13.83 on Thursday. DigitalBridge Group, Inc. has a twelve month low of $6.41 and a twelve month high of $17.33. The stock has a 50 day moving average of $11.61 and a two-hundred day moving average of $10.44. The stock has a market cap of $2.52 billion, a P/E ratio of -345.78 and a beta of 1.66.

DigitalBridge Group (NYSE:DBRG - Get Free Report) last issued its quarterly earnings data on Thursday, March 21st. The company reported ($0.07) earnings per share for the quarter. DigitalBridge Group had a net margin of 18.57% and a return on equity of 4.14%. The firm had revenue of $232.83 million during the quarter. As a group, research analysts predict that DigitalBridge Group, Inc. will post 0.17 earnings per share for the current year.

DigitalBridge Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Tuesday, September 30th. DigitalBridge Group's dividend payout ratio is -100.00%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on DBRG. Wall Street Zen upgraded DigitalBridge Group from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. 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 note on Tuesday, August 12th. Weiss Ratings restated a "sell (d+)" rating on shares of DigitalBridge Group in a research note on Wednesday, October 8th. Zacks Research cut DigitalBridge Group from a "hold" rating to a "strong sell" rating in a research note on Monday. Finally, Truist Financial boosted their price objective on DigitalBridge Group from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Wednesday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $16.14.

About DigitalBridge Group

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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