LB Partners LLC Buys 85,000 Shares of DigitalBridge Group, Inc. (NYSE:DBRG)

LB Partners LLC grew its position in shares of DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) by 34.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 335,000 shares of the company's stock after purchasing an additional 85,000 shares during the period. DigitalBridge Group comprises about 2.1% of LB Partners LLC's holdings, making the stock its 12th largest holding. LB Partners LLC owned approximately 0.19% of DigitalBridge Group worth $2,941,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. lifted its holdings in shares of DigitalBridge Group by 109.9% in the 4th quarter. Sunbelt Securities Inc. now owns 2,796 shares of the company's stock worth $31,000 after acquiring an additional 1,464 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in DigitalBridge Group in the 4th quarter worth $39,000. GAMMA Investing LLC raised 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 worth $39,000 after purchasing an additional 4,033 shares during the period. Spire Wealth Management lifted its stake in DigitalBridge Group by 91.1% in the first quarter. Spire Wealth Management now owns 6,208 shares of the company's stock worth $55,000 after purchasing an additional 2,960 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its position 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. Institutional investors own 92.69% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on DBRG shares. Wall Street Zen raised DigitalBridge Group from a "sell" rating to a "hold" rating in a research note on Friday, June 27th. Truist Financial raised 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. Keefe, Bruyette & Woods decreased their price target on DigitalBridge Group from $13.50 to $10.50 and set a "market perform" rating on the stock in a research note on Tuesday, May 6th. 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 hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $15.94.

DigitalBridge Group Stock Down 0.8%

Shares of DigitalBridge Group stock traded down $0.08 during trading on Friday, reaching $10.56. 1,562,591 shares of the stock were exchanged, compared to its average volume of 2,663,416. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 35.20, a price-to-earnings-growth ratio of 1.20 and a beta of 1.67. DigitalBridge Group, Inc. has a 1 year low of $6.41 and a 1 year high of $17.33. The stock's fifty day moving average is $10.25 and its 200 day moving average is $10.07.

DigitalBridge Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders 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 yield of 0.38%. The ex-dividend date of this dividend is Monday, June 30th. DigitalBridge Group's payout ratio is 13.33%.

DigitalBridge Group Company 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.