Peregrine Capital Management LLC Purchases 118,974 Shares of DigitalBridge Group, Inc. (NYSE:DBRG)

Peregrine Capital Management LLC raised its position in DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 23.6% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 622,116 shares of the company's stock after buying an additional 118,974 shares during the period. Peregrine Capital Management LLC owned about 0.36% of DigitalBridge Group worth $5,487,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in DBRG. Sunbelt Securities Inc. raised its position in shares of DigitalBridge Group by 109.9% during the 4th quarter. Sunbelt Securities Inc. now owns 2,796 shares of the company's stock valued at $31,000 after acquiring an additional 1,464 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in DigitalBridge Group in the fourth quarter valued at approximately $39,000. GAMMA Investing LLC lifted its position in DigitalBridge Group by 978.9% in the 1st quarter. GAMMA Investing LLC now owns 4,445 shares of the company's stock valued at $39,000 after acquiring an additional 4,033 shares in the last quarter. Spire Wealth Management boosted its position 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 buying an additional 2,960 shares during the period. Finally, Meeder Asset Management Inc. grew its stake in shares of DigitalBridge Group by 114.0% during the 4th 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 in the last quarter. Institutional investors own 92.69% of the company's stock.

DigitalBridge Group Stock Down 0.8%

Shares of DBRG stock traded down $0.08 during mid-day trading on Friday, reaching $10.56. 1,562,591 shares of the stock traded hands, compared to its average volume of 2,655,951. DigitalBridge Group, Inc. has a 1-year low of $6.41 and a 1-year high of $17.33. The stock's fifty day simple moving average is $10.25 and its two-hundred day simple moving average is $10.08. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 35.20, a price-to-earnings-growth ratio of 1.20 and a beta of 1.67.

DigitalBridge Group Dividend Announcement

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

Analysts Set New Price Targets

DBRG has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lowered their target price on DigitalBridge Group from $13.50 to $10.50 and set a "market perform" rating on the stock in a research report on Tuesday, May 6th. JMP Securities restated a "market outperform" rating and set a $16.00 price objective on shares of DigitalBridge Group in a research report on Friday, May 16th. Wall Street Zen raised shares of DigitalBridge Group from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Finally, Truist Financial increased their price target on DigitalBridge Group from $13.00 to $15.00 and gave the stock a "buy" rating in a research report on Tuesday, June 3rd. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $15.94.

DigitalBridge Group 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.