Iridian Asset Management LLC CT Boosts Stake 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% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 393,723 shares of the company's stock after acquiring an additional 28,219 shares during the period. DigitalBridge Group comprises 1.1% of Iridian Asset Management LLC CT's investment portfolio, making the stock its 26th biggest position. Iridian Asset Management LLC CT owned approximately 0.23% of DigitalBridge Group worth $3,473,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of DBRG. Jones Financial Companies Lllp grew its position in shares of DigitalBridge Group by 41.5% during the 4th quarter. Jones Financial Companies Lllp now owns 11,316 shares of the company's stock valued at $128,000 after acquiring an additional 3,316 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of DigitalBridge Group by 3.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,030,657 shares of the company's stock valued at $34,186,000 after acquiring an additional 99,891 shares during the period. Atria Investments Inc grew its position in shares of DigitalBridge Group by 29.3% during the 4th quarter. Atria Investments Inc now owns 17,550 shares of the company's stock valued at $198,000 after acquiring an additional 3,981 shares during the period. Raymond James Financial Inc. bought a new position in shares of DigitalBridge Group during the 4th quarter valued at approximately $4,087,000. Finally, OFI Invest Asset Management bought a new position in shares of DigitalBridge Group during the 4th quarter valued at approximately $305,000. 92.69% of the stock is owned by institutional investors.

DigitalBridge Group Stock Performance

NYSE DBRG traded down $0.01 on Friday, hitting $10.84. The stock had a trading volume of 1,942,574 shares, compared to its average volume of 2,663,593. DigitalBridge Group, Inc. has a 52-week low of $6.41 and a 52-week high of $17.33. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 36.13, a price-to-earnings-growth ratio of 1.23 and a beta of 1.67. The firm has a 50-day moving average of $10.45 and a 200-day moving average of $10.06.

DigitalBridge Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wall Street Zen downgraded shares of DigitalBridge Group from a "hold" rating to a "sell" rating in a report on Saturday. JMP Securities reaffirmed a "market outperform" rating and issued a $16.00 price objective on shares of DigitalBridge Group in a report on Friday, May 16th. Keefe, Bruyette & Woods cut their price objective on shares of DigitalBridge Group from $13.50 to $10.50 and set a "market perform" rating for the company in a report on Tuesday, May 6th. Finally, Truist Financial raised their price objective 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 investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.