Gabelli Funds LLC Raises Holdings in DigitalBridge Group, Inc. $DBRG

Key Points

• Gabelli Funds LLC increased its stake in DigitalBridge Group by 62.8%, owning approximately 110,000 shares worth $970,000 as of its recent SEC filing.
• The company announced a quarterly dividend of $0.01, with an annual yield of 0.4%, although its payout ratio is currently -100%.
• DigitalBridge Group's stock has a current consensus rating of "Buy" with an average price target of $16.14, despite a recent downgrade from some analysts.

Gabelli Funds LLC grew its stake in shares of DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 62.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 110,000 shares of the company's stock after acquiring an additional 42,440 shares during the period. Gabelli Funds LLC owned 0.06% of DigitalBridge Group worth $970,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Lazard Asset Management LLC raised its stake in shares of DigitalBridge Group by 384.5% during the 4th quarter. Lazard Asset Management LLC now owns 3,346,966 shares of the company's stock valued at $37,753,000 after purchasing an additional 2,656,100 shares during the period. Northern Trust Corp increased its position in shares of DigitalBridge Group by 1.8% during the fourth quarter. Northern Trust Corp now owns 1,522,539 shares of the company's stock valued at $17,174,000 after buying an additional 26,930 shares during the period. Point72 Asset Management L.P. boosted its position in shares of DigitalBridge Group by 788.8% in the fourth quarter. Point72 Asset Management L.P. now owns 1,167,459 shares of the company's stock valued at $13,169,000 after acquiring an additional 1,036,105 shares during the period. Palisade Capital Management LP grew its stake in DigitalBridge Group by 30.5% during the first quarter. Palisade Capital Management LP now owns 1,734,855 shares of the company's stock valued at $15,301,000 after acquiring an additional 404,960 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in DigitalBridge Group by 17.7% during the 4th quarter. Ameriprise Financial Inc. now owns 662,109 shares of the company's stock worth $7,469,000 after acquiring an additional 99,520 shares during the period. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Truist Financial raised their price target on shares of DigitalBridge Group from $15.00 to $16.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Keefe, Bruyette & Woods raised their price target on DigitalBridge Group from $10.50 to $11.00 and gave the company a "market perform" rating in a research report on Tuesday, August 12th. Wall Street Zen cut shares of DigitalBridge Group from a "hold" rating to a "sell" rating in a research note on Sunday, August 17th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $16.00 price objective on shares of DigitalBridge Group in a research report on Friday, May 16th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $16.14.

DigitalBridge Group Stock Down 0.8%

Shares of NYSE:DBRG traded down $0.09 during midday trading on Thursday, reaching $11.18. The company's stock had a trading volume of 509,183 shares, compared to its average volume of 2,591,971. The firm has a 50 day moving average of $10.87 and a 200-day moving average of $10.08. The firm has a market capitalization of $2.04 billion, a P/E ratio of -279.53 and a beta of 1.63. DigitalBridge Group, Inc. has a 12-month low of $6.41 and a 12-month high of $17.33.

DigitalBridge Group Announces Dividend

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

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.