Palisade Capital Management LP Increases Stake in DigitalBridge Group, Inc. (NYSE:DBRG)

Palisade Capital Management LP lifted its stake in shares of DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 30.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,734,855 shares of the company's stock after acquiring an additional 404,960 shares during the quarter. Palisade Capital Management LP owned 0.99% of DigitalBridge Group worth $15,301,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Sunbelt Securities Inc. lifted its stake in DigitalBridge Group by 109.9% in the fourth quarter. Sunbelt Securities Inc. now owns 2,796 shares of the company's stock worth $31,000 after acquiring an additional 1,464 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of DigitalBridge Group in the 4th quarter valued at $39,000. GAMMA Investing LLC lifted its position in shares of DigitalBridge Group by 978.9% during the 1st 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 grew its stake 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, Meeder Asset Management Inc. increased its holdings in DigitalBridge Group by 114.0% in the fourth quarter. Meeder Asset Management Inc. now owns 5,087 shares of the company's stock valued at $57,000 after buying an additional 2,710 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. JMP Securities reiterated a "market outperform" rating and issued a $16.00 price objective on shares of DigitalBridge Group in a report on Friday, May 16th. Keefe, Bruyette & Woods dropped their price target on shares of DigitalBridge Group from $13.50 to $10.50 and set a "market perform" rating on the stock in a research note on Tuesday, May 6th. Truist Financial raised their price objective on shares of DigitalBridge Group from $13.00 to $15.00 and gave the stock a "buy" rating in a report on Tuesday, June 3rd. Finally, Wall Street Zen upgraded shares of DigitalBridge Group from a "sell" rating to a "hold" rating in a report on Friday, June 27th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $15.94.

DigitalBridge Group Price Performance

Shares of DBRG stock traded down $0.08 during trading hours on Friday, hitting $10.56. The stock had a trading volume of 1,562,591 shares, compared to its average volume of 2,655,951. The firm has a market capitalization of $1.86 billion, a PE ratio of 35.20, a PEG ratio of 1.21 and a beta of 1.67. The stock's 50 day moving average is $10.21 and its 200 day moving average is $10.09. DigitalBridge Group, Inc. has a twelve month low of $6.41 and a twelve month high of $17.33.

DigitalBridge Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Monday, June 30th. DigitalBridge Group's dividend payout ratio is currently 13.33%.

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.