DigitalBridge Group, Inc. (NYSE:DBRG) Position Boosted by New South Capital Management Inc.

New South Capital Management Inc. grew its holdings in shares of DigitalBridge Group, Inc. (NYSE:DBRG) by 0.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,940,203 shares of the company’s stock after purchasing an additional 10,441 shares during the period. DigitalBridge Group makes up 2.3% of New South Capital Management Inc.’s portfolio, making the stock its 16th biggest holding. New South Capital Management Inc. owned 2.27% of DigitalBridge Group worth $55,675,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Los Angeles Capital Management LLC bought a new position in DigitalBridge Group during the third quarter valued at approximately $1,268,000. Covestor Ltd lifted its stake in shares of DigitalBridge Group by 73.0% in the third quarter. Covestor Ltd now owns 10,703 shares of the company’s stock worth $151,000 after buying an additional 4,517 shares during the last quarter. Atria Investments Inc lifted its stake in shares of DigitalBridge Group by 27.3% in the third quarter. Atria Investments Inc now owns 13,569 shares of the company’s stock worth $192,000 after buying an additional 2,913 shares during the last quarter. TCTC Holdings LLC increased its position in DigitalBridge Group by 57.7% during the third quarter. TCTC Holdings LLC now owns 91,878 shares of the company’s stock worth $1,298,000 after acquiring an additional 33,602 shares during the period. Finally, Private Management Group Inc. increased its position in DigitalBridge Group by 2.8% during the third quarter. Private Management Group Inc. now owns 1,419,710 shares of the company’s stock worth $20,061,000 after acquiring an additional 38,768 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DBRG has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lowered their price target on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Truist Financial lowered their price target on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Keefe, Bruyette & Woods lowered shares of DigitalBridge Group from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $17.75 to $14.00 in a report on Wednesday, November 6th. Raymond James reduced their price target on shares of DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, November 5th. Finally, 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 report on Monday, November 4th. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $18.13.

DigitalBridge Group Stock Performance

NYSE DBRG traded up $0.06 during trading hours on Tuesday, reaching $12.59. 30,888 shares of the company’s stock were exchanged, compared to its average volume of 2,330,216. The company’s 50-day moving average is $14.33 and its two-hundred day moving average is $13.75. DigitalBridge Group, Inc. has a one year low of $11.07 and a one year high of $20.99. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 2.18 and a beta of 1.94.

DigitalBridge Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.04 dividend on an annualized basis and a yield of 0.32%. DigitalBridge Group’s payout ratio is 5.48%.

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.