Short Interest in DigitalBridge Group, Inc. (NYSE:DBRG) Grows By 18.3%

DigitalBridge Group, Inc. (NYSE:DBRG) saw a significant growth in short interest in September. As of September 30th, there was short interest totalling 20,140,000 shares, a growth of 18.3% from the September 15th total of 17,020,000 shares. Based on an average trading volume of 2,440,000 shares, the short-interest ratio is presently 8.3 days. Currently, 11.7% of the company’s stock are sold short.

DigitalBridge Group Stock Performance

NYSE:DBRG traded down $0.06 during trading hours on Wednesday, reaching $15.39. The company’s stock had a trading volume of 992,929 shares, compared to its average volume of 2,283,638. The company has a market capitalization of $2.67 billion, a P/E ratio of 9.96, a price-to-earnings-growth ratio of 2.63 and a beta of 1.95. DigitalBridge Group has a 12 month low of $11.07 and a 12 month high of $20.99. The stock has a 50 day moving average price of $13.38 and a two-hundred day moving average price of $14.18.

DigitalBridge Group (NYSE:DBRG) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $97.05 million. As a group, analysts predict that DigitalBridge Group will post 0.16 EPS for the current fiscal year.

DigitalBridge Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.26%. The ex-dividend date was Monday, September 30th. DigitalBridge Group’s payout ratio is 2.58%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DBRG. Creative Planning grew its stake in DigitalBridge Group by 264.9% during the 3rd quarter. Creative Planning now owns 68,036 shares of the company’s stock valued at $961,000 after acquiring an additional 49,392 shares in the last quarter. Fulton Bank N.A. grew its stake in DigitalBridge Group by 3.2% during the 3rd quarter. Fulton Bank N.A. now owns 28,372 shares of the company’s stock worth $401,000 after purchasing an additional 878 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in DigitalBridge Group by 34.7% in the third quarter. Handelsbanken Fonder AB now owns 46,600 shares of the company’s stock valued at $658,000 after acquiring an additional 12,000 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in DigitalBridge Group in the third quarter valued at $35,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of DigitalBridge Group during the 2nd quarter worth about $2,724,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

DBRG has been the subject of several research reports. B. Riley reduced their price target on shares of DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. JPMorgan Chase & Co. upped their target price on shares of DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Raymond James dropped their price target on shares of DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company reduced their price objective on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $19.00 price target on shares of DigitalBridge Group in a research report on Wednesday, July 3rd. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $19.22.

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.