Trexquant Investment LP Buys Shares of 174,047 DigitalBridge Group, Inc. $DBRG

Key Points

• Trexquant Investment LP acquired a new stake in DigitalBridge Group, purchasing 174,047 shares valued at around $1.54 million, indicating growing institutional interest in the company.
• Analysts have **upgraded DigitalBridge Group's** stock ratings, with a consensus target price increased to **$16.14**, reflecting positive market sentiment towards the firm's future performance.
• DigitalBridge will pay a quarterly **dividend of $0.01 per share** on October 15th, with an annualized yield of 0.4%, despite currently having a negative dividend payout ratio.

Trexquant Investment LP bought a new stake in DigitalBridge Group, Inc. (NYSE:DBRG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 174,047 shares of the company's stock, valued at approximately $1,535,000. Trexquant Investment LP owned approximately 0.10% of DigitalBridge Group as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Lazard Asset Management LLC increased its stake in DigitalBridge Group by 384.5% in the fourth quarter. Lazard Asset Management LLC now owns 3,346,966 shares of the company's stock valued at $37,753,000 after purchasing an additional 2,656,100 shares during the last quarter. Northern Trust Corp increased its stake in DigitalBridge Group by 1.8% in the fourth quarter. Northern Trust Corp now owns 1,522,539 shares of the company's stock valued at $17,174,000 after purchasing an additional 26,930 shares during the last quarter. Point72 Asset Management L.P. increased its stake in DigitalBridge Group by 788.8% in the fourth quarter. Point72 Asset Management L.P. now owns 1,167,459 shares of the company's stock valued at $13,169,000 after purchasing an additional 1,036,105 shares during the last quarter. Palisade Capital Management LP increased its stake in DigitalBridge Group by 30.5% in the first quarter. Palisade Capital Management LP now owns 1,734,855 shares of the company's stock valued at $15,301,000 after purchasing an additional 404,960 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in DigitalBridge Group by 17.7% in the fourth quarter. Ameriprise Financial Inc. now owns 662,109 shares of the company's stock valued at $7,469,000 after purchasing an additional 99,520 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

DigitalBridge Group Stock Up 10.2%

NYSE:DBRG traded up $1.14 during midday trading on Thursday, reaching $12.31. The stock had a trading volume of 5,240,843 shares, compared to its average volume of 1,636,395. The firm has a fifty day simple moving average of $10.99 and a two-hundred day simple moving average of $10.09. DigitalBridge Group, Inc. has a 12-month low of $6.41 and a 12-month high of $17.33. The stock has a market cap of $2.24 billion, a P/E ratio of -307.75 and a beta of 1.63.

DigitalBridge Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Tuesday, September 30th. DigitalBridge Group's dividend payout ratio (DPR) is -100.00%.

Analyst Ratings Changes

Several equities analysts have commented on DBRG shares. Wall Street Zen upgraded shares of DigitalBridge Group from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. JMP Securities restated a "market outperform" rating and set a $16.00 target price on shares of DigitalBridge Group in a research report on Friday, May 16th. Truist Financial raised their target price on shares of DigitalBridge Group from $15.00 to $16.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Finally, Keefe, Bruyette & Woods raised 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. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $16.14.

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.