Iridian Asset Management LLC CT Raises Stock Position in DigitalBridge Group, Inc. (NYSE:DBRG)

Iridian Asset Management LLC CT grew its stake in shares of DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 7.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 393,723 shares of the company's stock after buying an additional 28,219 shares during the period. DigitalBridge Group accounts for 1.1% of Iridian Asset Management LLC CT's portfolio, making the stock its 26th biggest holding. Iridian Asset Management LLC CT owned 0.23% of DigitalBridge Group worth $3,473,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in DBRG. Sunbelt Securities Inc. boosted its stake 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 during the period. Point72 Hong Kong Ltd purchased a new stake in shares of DigitalBridge Group in the 4th quarter worth $39,000. GAMMA Investing LLC grew its position in shares of DigitalBridge Group by 978.9% during the 1st quarter. GAMMA Investing LLC now owns 4,445 shares of the company's stock worth $39,000 after buying an additional 4,033 shares in the last quarter. Spire Wealth Management grew its holdings in DigitalBridge Group by 91.1% during the 1st quarter. Spire Wealth Management now owns 6,208 shares of the company's stock worth $55,000 after acquiring an additional 2,960 shares in the last quarter. Finally, Meeder Asset Management Inc. increased 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 buying an additional 2,710 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

DigitalBridge Group Stock Performance

Shares of DBRG stock traded down $0.01 on Friday, hitting $10.84. 1,942,574 shares of the stock traded hands, compared to its average volume of 2,656,281. The stock has a market capitalization of $1.91 billion, a PE ratio of 36.13, a PEG ratio of 1.18 and a beta of 1.67. The firm's 50-day moving average price is $10.41 and its two-hundred day moving average price is $10.06. DigitalBridge Group, Inc. has a twelve month low of $6.41 and a twelve month high of $17.33.

DigitalBridge Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Monday, June 30th. DigitalBridge Group's payout ratio is 13.33%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. JMP Securities reiterated a "market outperform" rating and issued a $16.00 target price on shares of DigitalBridge Group in a report on Friday, May 16th. Wall Street Zen upgraded DigitalBridge Group from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. 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. Finally, Keefe, Bruyette & Woods decreased their target price on shares of DigitalBridge Group from $13.50 to $10.50 and set a "market perform" rating for the company in a research note on Tuesday, May 6th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target 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.