Edgestream Partners L.P. Acquires 17,668 Shares of DigitalBridge Group, Inc. (NYSE:DBRG)

Edgestream Partners L.P. grew its position in shares of DigitalBridge Group, Inc. (NYSE:DBRG) by 23.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 94,588 shares of the company’s stock after purchasing an additional 17,668 shares during the quarter. Edgestream Partners L.P.’s holdings in DigitalBridge Group were worth $1,823,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP bought a new position in DigitalBridge Group during the 4th quarter worth approximately $41,000. CWM LLC raised its holdings in DigitalBridge Group by 59.9% during the 4th quarter. CWM LLC now owns 8,371 shares of the company’s stock worth $147,000 after purchasing an additional 3,135 shares during the last quarter. Bfsg LLC bought a new position in DigitalBridge Group during the 4th quarter worth approximately $171,000. New York State Teachers Retirement System acquired a new stake in shares of DigitalBridge Group during the 4th quarter worth approximately $175,000. Finally, Kingswood Wealth Advisors LLC acquired a new stake in shares of DigitalBridge Group during the 1st quarter worth approximately $216,000. Institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Trading Up 0.4 %

NYSE DBRG traded up $0.06 during mid-day trading on Monday, hitting $14.07. The company’s stock had a trading volume of 1,047,009 shares, compared to its average volume of 2,202,950. The company’s 50 day simple moving average is $13.37 and its 200 day simple moving average is $16.54. DigitalBridge Group, Inc. has a twelve month low of $12.12 and a twelve month high of $20.99. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 1.39 and a beta of 2.00.

DigitalBridge Group (NYSE:DBRG) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). The firm had revenue of $74.39 million for the quarter, compared to analysts’ expectations of $100.76 million. DigitalBridge Group had a return on equity of 3.14% and a net margin of 26.64%. As a group, research analysts forecast that DigitalBridge Group, Inc. will post 0.28 EPS for the current year.

DigitalBridge Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Sunday, June 30th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend was Friday, June 28th. DigitalBridge Group’s dividend payout ratio is 2.58%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. B. Riley reduced their price objective 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $19.00 price objective on shares of DigitalBridge Group in a research report on Wednesday, July 3rd. Truist Financial reduced their price objective on shares of DigitalBridge Group from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. 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 report on Tuesday, June 18th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $17.00 price target (down previously from $21.00) on shares of DigitalBridge Group in a research report on Tuesday, June 18th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $20.54.

DigitalBridge Group Company 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.