DigitalBridge Group, Inc. $DBRG Shares Sold by Royal Bank of Canada

Key Points

• Royal Bank of Canada cut its DigitalBridge Group stake by 60.5% in the first quarter, selling 136,460 shares and retaining 89,058 shares valued at approximately $1.37 million.
• Institutional ownership remains high at 92.69%, with Vanguard increasing its position and several investment firms establishing new stakes.
• Analyst sentiment is mixed: Weiss Ratings upgraded the stock to “buy,” but the broader analyst consensus remains “Hold” with a $16.00 price target. DigitalBridge also declared a quarterly dividend of $0.01 per share.

Royal Bank of Canada lessened its stake in shares of DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 60.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 89,058 shares of the company's stock after selling 136,460 shares during the period. Royal Bank of Canada's holdings in DigitalBridge Group were worth $1,374,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in DigitalBridge Group by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 17,351,817 shares of the company's stock worth $266,177,000 after purchasing an additional 116,360 shares during the period. Pentwater Capital Management LP acquired a new stake in shares of DigitalBridge Group during the 4th quarter worth approximately $176,410,000. Kryger Capital LLC acquired a new stake in shares of DigitalBridge Group during the 1st quarter worth approximately $102,736,000. KRYGER CAPITAL Ltd purchased a new stake in shares of DigitalBridge Group during the 4th quarter valued at approximately $75,234,000. Finally, New South Capital Management Inc. lifted its holdings in DigitalBridge Group by 21.0% in the fourth quarter. New South Capital Management Inc. now owns 4,571,797 shares of the company's stock valued at $70,131,000 after acquiring an additional 794,434 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised DigitalBridge Group from a "hold (c)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $16.00.

DigitalBridge Group Price Performance

NYSE DBRG opened at $15.93 on Thursday. The stock has a market capitalization of $2.99 billion, a P/E ratio of 10.34 and a beta of 1.47. The firm's 50-day moving average is $15.81 and its two-hundred day moving average is $15.62. DigitalBridge Group, Inc. has a 12 month low of $8.94 and a 12 month high of $15.97.

DigitalBridge Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. DigitalBridge Group's dividend payout ratio (DPR) is presently 2.60%.

DigitalBridge Group Company 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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