Cherry Creek Investment Advisors Inc. Makes New Investment in DigitalBridge Group, Inc. (NYSE:DBRG)

Cherry Creek Investment Advisors Inc. bought a new position in DigitalBridge Group, Inc. (NYSE:DBRG) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 17,846 shares of the company’s stock, valued at approximately $252,000.

Other hedge funds have also added to or reduced their stakes in the company. nVerses Capital LLC increased its holdings in DigitalBridge Group by 633.3% in the second quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock worth $30,000 after purchasing an additional 1,900 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of DigitalBridge Group during the third quarter valued at approximately $35,000. Blue Trust Inc. increased its holdings in shares of DigitalBridge Group by 179.2% during the third quarter. Blue Trust Inc. now owns 3,752 shares of the company’s stock valued at $51,000 after acquiring an additional 2,408 shares in the last quarter. Headlands Technologies LLC increased its holdings in shares of DigitalBridge Group by 33,627.3% during the second quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock valued at $102,000 after acquiring an additional 7,398 shares in the last quarter. Finally, Xponance Inc. bought a new stake in shares of DigitalBridge Group during the second quarter valued at approximately $138,000. 92.69% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft decreased their price objective on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 15th. B. Riley decreased their price objective on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. JPMorgan Chase & Co. boosted their price objective on DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Truist Financial decreased their price target on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Finally, Raymond James decreased their price target on DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating for the company in a report on Thursday, August 8th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $19.22.

DigitalBridge Group Trading Down 1.8 %

Shares of DigitalBridge Group stock opened at $15.83 on Thursday. The stock has a fifty day simple moving average of $13.73 and a 200 day simple moving average of $14.08. DigitalBridge Group, Inc. has a 12-month low of $11.07 and a 12-month high of $20.99. The company has a market capitalization of $2.75 billion, a P/E ratio of 10.21, a price-to-earnings-growth ratio of 2.63 and a beta of 1.95.

DigitalBridge Group (NYSE:DBRG) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The business had revenue of $390.34 million during the quarter, compared to the consensus estimate of $97.05 million. DigitalBridge Group had a net margin of 35.10% and a return on equity of 4.49%. On average, analysts predict that DigitalBridge Group, Inc. will post 0.16 EPS for the current year.

DigitalBridge Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.25%. DigitalBridge Group’s dividend payout ratio (DPR) is presently 2.58%.

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.