Short Interest in DigitalBridge Group, Inc. (NYSE:DBRG) Rises By 30.1%

DigitalBridge Group, Inc. (NYSE:DBRG - Get Free Report) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 18,544,212 shares, an increase of 30.1% from the March 15th total of 14,249,419 shares. Currently, 10.5% of the company's shares are sold short. Based on an average trading volume of 2,967,555 shares, the days-to-cover ratio is presently 6.2 days.

DigitalBridge Group Stock Up 0.0%

DBRG opened at $15.59 on Thursday. The firm has a market cap of $2.85 billion, a P/E ratio of 34.63 and a beta of 1.61. The business has a fifty day simple moving average of $15.43 and a 200-day simple moving average of $13.79. DigitalBridge Group has a 52 week low of $7.64 and a 52 week high of $15.60.

DigitalBridge Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a $0.01 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. DigitalBridge Group's dividend payout ratio (DPR) is 8.89%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on DBRG shares. Raymond James Financial cut DigitalBridge Group from a "strong-buy" rating to an "underperform" rating in a research note on Tuesday, January 27th. B. Riley Financial cut DigitalBridge Group from a "buy" rating to a "hold" rating and cut their target price for the stock from $20.00 to $16.00 in a research note on Tuesday, December 30th. Citizens Jmp lowered DigitalBridge Group from a "market outperform" rating to a "hold" rating and set a $16.00 price target for the company. in a research report on Monday, December 29th. Truist Financial started coverage on DigitalBridge Group in a research report on Tuesday, March 31st. They set a "buy" rating and a $16.00 price target for the company. Finally, Royal Bank Of Canada lowered DigitalBridge Group from an "outperform" rating to a "sector perform" rating and lowered their price target for the stock from $23.00 to $16.00 in a research report on Tuesday, December 30th. One research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $16.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Gateway Wealth Partners LLC purchased a new stake in DigitalBridge Group during the 3rd quarter worth about $5,483,000. Sarasin & Partners LLP acquired a new stake in shares of DigitalBridge Group during the third quarter worth about $1,886,000. Aberdeen Group plc acquired a new stake in shares of DigitalBridge Group during the third quarter worth about $3,220,000. Nordea Investment Management AB increased its position in shares of DigitalBridge Group by 24.1% during the third quarter. Nordea Investment Management AB now owns 332,414 shares of the company's stock worth $3,849,000 after purchasing an additional 64,474 shares in the last quarter. Finally, DAVENPORT & Co LLC increased its position in shares of DigitalBridge Group by 15.4% during the third quarter. DAVENPORT & Co LLC now owns 1,500,110 shares of the company's stock worth $17,701,000 after purchasing an additional 200,110 shares in the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

About DigitalBridge Group

DigitalBridge Group, Inc NYSE: DBRG is a specialized global investment firm focused exclusively on digital infrastructure. The company originates, acquires, and manages a diversified portfolio of businesses that support the digital economy, including data centers, cell towers, small cells, fiber networks, edge infrastructure and related services. DigitalBridge seeks to generate sustainable, long-term returns for its investors by deploying capital into high-growth sectors driven by increasing data consumption, 5G deployment and cloud adoption.

Through its dedicated investment platforms, DigitalBridge provides equity and debt financing solutions to operators and owners of digital infrastructure assets.

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