Clearline Capital LP Makes New Investment in DigitalBridge Group, Inc. (NYSE:DBRG)

Clearline Capital LP purchased a new position in shares of DigitalBridge Group, Inc. (NYSE:DBRG) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 528,527 shares of the company’s stock, valued at approximately $7,468,000. Clearline Capital LP owned 0.30% of DigitalBridge Group as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in DigitalBridge Group by 4.1% in the 2nd quarter. Victory Capital Management Inc. now owns 22,165 shares of the company’s stock valued at $304,000 after purchasing an additional 870 shares during the last quarter. Arizona State Retirement System raised its position in shares of DigitalBridge Group by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 45,735 shares of the company’s stock valued at $627,000 after buying an additional 872 shares during the period. Fulton Bank N.A. lifted its holdings in DigitalBridge Group by 3.2% in the third quarter. Fulton Bank N.A. now owns 28,372 shares of the company’s stock valued at $401,000 after acquiring an additional 878 shares during the last quarter. King Luther Capital Management Corp grew its position in DigitalBridge Group by 1.3% in the second quarter. King Luther Capital Management Corp now owns 71,038 shares of the company’s stock worth $973,000 after acquiring an additional 942 shares during the period. Finally, nVerses Capital LLC increased its stake in DigitalBridge Group by 633.3% during the second quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock worth $30,000 after acquiring an additional 1,900 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

DigitalBridge Group Trading Up 0.3 %

DigitalBridge Group stock opened at $13.10 on Monday. The firm has a market capitalization of $2.28 billion, a P/E ratio of 17.95, a P/E/G ratio of 8.23 and a beta of 1.94. DigitalBridge Group, Inc. has a twelve month low of $11.07 and a twelve month high of $20.99. The stock’s fifty day simple moving average is $14.17 and its 200-day simple moving average is $13.51.

DigitalBridge Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.04 annualized dividend and a yield of 0.31%. DigitalBridge Group’s dividend payout ratio (DPR) is 5.48%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on DBRG shares. Truist Financial decreased their price target on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Raymond James lowered their target price on shares of DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a research note on Tuesday, November 5th. Wells Fargo & Company reduced their price target on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. boosted their target price on DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $18.13.

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.