Potrero Capital Research LLC Makes New $20.20 Million Investment in DigitalBridge Group, Inc. (NYSE:DBRG)

Potrero Capital Research LLC purchased a new position in shares of DigitalBridge Group, Inc. (NYSE:DBRG) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,429,657 shares of the company’s stock, valued at approximately $20,201,000. DigitalBridge Group comprises about 6.3% of Potrero Capital Research LLC’s holdings, making the stock its 3rd biggest holding. Potrero Capital Research LLC owned 0.82% of DigitalBridge Group at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of DBRG. nVerses Capital LLC increased its holdings in shares of DigitalBridge Group by 633.3% during the 2nd quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock valued at $30,000 after purchasing an additional 1,900 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of DigitalBridge Group during the 3rd quarter valued at approximately $34,000. Central Pacific Bank Trust Division purchased a new position in shares of DigitalBridge Group during the 3rd quarter valued at approximately $35,000. Blue Trust Inc. increased its holdings in shares of DigitalBridge Group by 179.2% during the 3rd quarter. Blue Trust Inc. now owns 3,752 shares of the company’s stock valued at $51,000 after purchasing an additional 2,408 shares in the last quarter. Finally, Headlands Technologies LLC increased its holdings in shares of DigitalBridge Group by 33,627.3% during the 2nd quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock valued at $102,000 after purchasing an additional 7,398 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

DigitalBridge Group Stock Down 1.1 %

Shares of DBRG opened at $13.13 on Wednesday. DigitalBridge Group, Inc. has a 52-week low of $11.07 and a 52-week high of $20.99. The firm’s fifty day moving average is $14.14 and its two-hundred day moving average is $13.50. The stock has a market cap of $2.29 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 14.92 and a beta of 1.89.

DigitalBridge Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 annualized dividend and a yield of 0.30%. DigitalBridge Group’s dividend payout ratio (DPR) is presently 5.48%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on DBRG. Keefe, Bruyette & Woods lowered shares of DigitalBridge Group from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $17.75 to $14.00 in a report on Wednesday, November 6th. Wells Fargo & Company cut their price target on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, November 4th. JPMorgan Chase & Co. boosted their price target on shares of DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Truist Financial cut their price target on shares of 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 cut their price target on shares of DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, DigitalBridge Group currently has a consensus rating of “Buy” and an average price target of $18.13.

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.