Magnetar Financial LLC Buys New Shares in DigitalBridge Group, Inc. $DBRG

Key Points

• Magnetar Financial LLC has acquired a new position in DigitalBridge Group, purchasing 40,728 shares valued at approximately $359,000 during the first quarter.
• DigitalBridge Group announced a quarterly dividend of $0.01 per share, with an annualized yield of 0.4%, set to be paid on October 15th.
• A consensus rating of "Buy" among analysts is reflected in DigitalBridge Group's stock, along with a price target averaging $16.14.

Magnetar Financial LLC acquired a new position in DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 40,728 shares of the company's stock, valued at approximately $359,000.

Other large investors also recently added to or reduced their stakes in the company. Trexquant Investment LP acquired a new stake in DigitalBridge Group during the 1st quarter valued at $1,535,000. Gamco Investors INC. ET AL raised its stake in DigitalBridge Group by 34.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 177,432 shares of the company's stock valued at $1,565,000 after purchasing an additional 45,747 shares during the period. Gabelli Funds LLC raised its stake in DigitalBridge Group by 62.8% during the 1st quarter. Gabelli Funds LLC now owns 110,000 shares of the company's stock valued at $970,000 after purchasing an additional 42,440 shares during the period. NCM Capital Management LLC acquired a new stake in DigitalBridge Group during the 1st quarter valued at $92,000. Finally, Jump Financial LLC acquired a new stake in DigitalBridge Group during the 1st quarter valued at $1,278,000. 92.69% of the stock is owned by institutional investors and hedge funds.

DigitalBridge Group Stock Down 0.5%

DBRG stock traded down $0.06 during mid-day trading on Friday, reaching $11.23. 1,535,525 shares of the stock traded hands, compared to its average volume of 1,801,481. DigitalBridge Group, Inc. has a 52 week low of $6.41 and a 52 week high of $17.33. The business has a 50-day moving average of $10.91 and a two-hundred day moving average of $10.10. The firm has a market capitalization of $2.04 billion, a PE ratio of -280.63 and a beta of 1.63.

DigitalBridge Group Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.