Palisade Capital Management LP Acquires 404,960 Shares of DigitalBridge Group, Inc. (NYSE:DBRG)

Palisade Capital Management LP grew its holdings in DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 30.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,734,855 shares of the company's stock after buying an additional 404,960 shares during the quarter. Palisade Capital Management LP owned approximately 0.99% of DigitalBridge Group worth $15,301,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Sunbelt Securities Inc. increased 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 valued at $31,000 after purchasing an additional 1,464 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in DigitalBridge Group in the fourth quarter valued at $39,000. GAMMA Investing LLC raised its position in shares of DigitalBridge Group by 978.9% in the first quarter. GAMMA Investing LLC now owns 4,445 shares of the company's stock valued at $39,000 after purchasing an additional 4,033 shares during the period. Meeder Asset Management Inc. increased its position in DigitalBridge Group by 114.0% during the fourth quarter. Meeder Asset Management Inc. now owns 5,087 shares of the company's stock worth $57,000 after acquiring an additional 2,710 shares during the period. Finally, Spire Wealth Management increased its position 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 acquiring an additional 2,960 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

DigitalBridge Group Stock Down 0.8%

Shares of NYSE:DBRG traded down $0.08 on Friday, hitting $10.56. 1,562,591 shares of the company traded hands, compared to its average volume of 2,663,416. DigitalBridge Group, Inc. has a 52 week low of $6.41 and a 52 week high of $17.33. The stock has a 50 day simple moving average of $10.25 and a 200-day simple moving average of $10.06. The company has a market cap of $1.86 billion, a PE ratio of 35.20, a PEG ratio of 1.20 and a beta of 1.67.

DigitalBridge Group Announces Dividend

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

Analyst Ratings Changes

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

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.