Fox Run Management L.L.C. Buys 59,242 Shares of DigitalBridge Group, Inc. (NYSE:DBRG)

Key Points

• Fox Run Management L.L.C. increased its stake in DigitalBridge Group by 104.1% during Q1, acquiring an additional 59,242 shares, bringing its total to 116,153 shares worth approximately $1,024,000.
• DigitalBridge Group's stock dropped 2.3% to $11.23, with a market cap of $1.98 billion and a 52-week price range between $6.41 and $17.33.
• The company announced a quarterly dividend of $0.01 per share, with a dividend yield of 0.4%, indicating a -100.00% dividend payout ratio.

Fox Run Management L.L.C. lifted its stake in shares of DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 104.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,153 shares of the company's stock after purchasing an additional 59,242 shares during the quarter. Fox Run Management L.L.C. owned about 0.07% of DigitalBridge Group worth $1,024,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sunbelt Securities Inc. boosted 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 worth $31,000 after purchasing an additional 1,464 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in DigitalBridge Group in the 4th quarter valued at about $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 lifted its position in DigitalBridge Group by 91.1% in the 1st quarter. Spire Wealth Management now owns 6,208 shares of the company's stock valued at $55,000 after acquiring an additional 2,960 shares in the last quarter. Finally, US Bancorp DE lifted its position in DigitalBridge Group by 187.3% in the 1st quarter. US Bancorp DE now owns 6,265 shares of the company's stock valued at $55,000 after acquiring an additional 4,084 shares in the last quarter. Institutional investors own 92.69% of the company's stock.

DigitalBridge Group Stock Down 2.3%

DigitalBridge Group stock opened at $11.23 on Friday. DigitalBridge Group, Inc. has a 52 week low of $6.41 and a 52 week high of $17.33. The company's 50 day moving average price is $10.61 and its two-hundred day moving average price is $10.02. The stock has a market cap of $1.98 billion, a P/E ratio of -280.78 and a beta of 1.77.

DigitalBridge Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.01 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.4%. DigitalBridge Group's dividend payout ratio (DPR) is presently -100.00%.

Analyst Ratings Changes

Several brokerages recently weighed in on DBRG. Keefe, Bruyette & Woods raised their price target on shares of DigitalBridge Group from $10.50 to $11.00 and gave the company a "market perform" rating in a research report on Tuesday. Truist Financial raised their price target on shares of DigitalBridge Group from $13.00 to $15.00 and gave the company a "buy" rating in a research report on Tuesday, June 3rd. Wall Street Zen raised shares of DigitalBridge Group from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $16.00 price target on shares of DigitalBridge Group in a research report on Friday, May 16th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, DigitalBridge Group currently has a consensus rating of "Buy" and a consensus target price of $16.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.