Homestead Advisers Corp Cuts Stake in DigitalBridge Group, Inc. (NYSE:DBRG)

Homestead Advisers Corp reduced its stake in DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 10.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 287,300 shares of the company's stock after selling 31,900 shares during the quarter. Homestead Advisers Corp owned 0.16% of DigitalBridge Group worth $2,534,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sunbelt Securities Inc. lifted its holdings in DigitalBridge Group by 109.9% during 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 during the last quarter. Point72 Hong Kong Ltd purchased a new stake in DigitalBridge Group during the fourth quarter valued at about $39,000. GAMMA Investing LLC lifted its holdings in DigitalBridge Group by 978.9% during 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 last quarter. Meeder Asset Management Inc. lifted its holdings in DigitalBridge Group by 114.0% during the fourth quarter. Meeder Asset Management Inc. now owns 5,087 shares of the company's stock valued at $57,000 after purchasing an additional 2,710 shares during the last quarter. Finally, Spire Wealth Management lifted its holdings in DigitalBridge Group by 91.1% during the first quarter. Spire Wealth Management now owns 6,208 shares of the company's stock valued at $55,000 after purchasing an additional 2,960 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DBRG has been the topic of several recent research reports. Wall Street Zen downgraded shares of DigitalBridge Group from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Keefe, Bruyette & Woods lowered 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 report on Tuesday, May 6th. JMP Securities reissued a "market outperform" rating and issued a $16.00 price target on shares of DigitalBridge Group in a report on Friday, May 16th. Finally, Truist Financial increased their price target 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. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, DigitalBridge Group presently has a consensus rating of "Moderate Buy" and an average price target of $15.94.

DigitalBridge Group Price Performance

NYSE DBRG traded up $0.13 on Tuesday, reaching $10.90. 277,379 shares of the company's stock traded hands, compared to its average volume of 2,747,717. DigitalBridge Group, Inc. has a 12 month low of $6.41 and a 12 month high of $17.33. The stock has a 50-day simple moving average of $10.65 and a 200 day simple moving average of $10.04. The stock has a market cap of $1.92 billion, a PE ratio of 36.28, a P/E/G ratio of 1.22 and a beta of 1.67.

DigitalBridge Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend was Monday, June 30th. DigitalBridge Group's dividend payout ratio is 13.33%.

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.

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