Ellis Investment Partners LLC Has $602,000 Position in DigitalBridge Group, Inc. (NYSE:DBRG)

Ellis Investment Partners LLC raised its holdings in DigitalBridge Group, Inc. (NYSE:DBRG) by 10.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 43,926 shares of the company’s stock after acquiring an additional 4,298 shares during the quarter. Ellis Investment Partners LLC’s holdings in DigitalBridge Group were worth $602,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. New South Capital Management Inc. lifted its stake in shares of DigitalBridge Group by 40.1% in the 2nd quarter. New South Capital Management Inc. now owns 3,929,762 shares of the company’s stock valued at $53,838,000 after acquiring an additional 1,125,549 shares during the last quarter. Wafra Inc. grew its holdings in DigitalBridge Group by 7.1% during the second quarter. Wafra Inc. now owns 15,455,808 shares of the company’s stock worth $211,745,000 after buying an additional 1,020,409 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of DigitalBridge Group by 1.9% in the second quarter. Arizona State Retirement System now owns 45,735 shares of the company’s stock valued at $627,000 after acquiring an additional 872 shares in the last quarter. Victory Capital Management Inc. boosted its stake in DigitalBridge Group by 4.1% in the second quarter. Victory Capital Management Inc. now owns 22,165 shares of the company’s stock valued at $304,000 after acquiring an additional 870 shares during the last quarter. Finally, National Bank of Canada FI boosted its position in DigitalBridge Group by 15.3% during the second quarter. National Bank of Canada FI now owns 358,003 shares of the company’s stock worth $4,747,000 after purchasing an additional 47,468 shares during the period. 92.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on DBRG shares. Wells Fargo & Company decreased their price objective on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Keefe, Bruyette & Woods reduced their price target on shares of DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating for the company in a research note on Tuesday, June 18th. Truist Financial lowered their target price on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $19.00 price target on shares of DigitalBridge Group in a research note on Wednesday, July 3rd. Finally, B. Riley cut their price objective on shares of DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, DigitalBridge Group presently has an average rating of “Buy” and a consensus price target of $19.22.

DigitalBridge Group Stock Down 4.1 %

Shares of NYSE DBRG traded down $0.49 during midday trading on Friday, hitting $11.52. The stock had a trading volume of 2,803,126 shares, compared to its average volume of 2,115,992. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 7.43, a PEG ratio of 1.22 and a beta of 1.96. DigitalBridge Group, Inc. has a 1-year low of $11.34 and a 1-year high of $20.99. The company has a fifty day moving average price of $13.07 and a 200 day moving average price of $15.01.

DigitalBridge Group (NYSE:DBRG) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). DigitalBridge Group had a return on equity of 4.49% and a net margin of 35.10%. The business had revenue of $390.34 million for the quarter, compared to analyst estimates of $97.05 million. On average, research analysts forecast that DigitalBridge Group, Inc. will post 0.28 EPS for the current year.

DigitalBridge Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Monday, September 30th. DigitalBridge Group’s dividend payout ratio (DPR) is currently 2.58%.

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.