DigitalBridge Group, Inc. (NYSE:DBRG) Sees Large Drop in Short Interest

DigitalBridge Group, Inc. (NYSE:DBRG) was the target of a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 14,280,000 shares, a decrease of 7.0% from the November 15th total of 15,360,000 shares. Based on an average trading volume of 3,000,000 shares, the days-to-cover ratio is currently 4.8 days. Currently, 8.3% of the shares of the stock are sold short.

Analysts Set New Price Targets

DBRG has been the topic of a number of research reports. Raymond James decreased their price objective on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a report on Tuesday, November 5th. Truist Financial decreased their price target on shares of DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Wells Fargo & Company cut their price objective on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Keefe, Bruyette & Woods lowered shares of DigitalBridge Group from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $17.75 to $14.00 in a report on Wednesday, November 6th. Finally, 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 research note on Tuesday, October 1st. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, DigitalBridge Group has a consensus rating of “Buy” and an average target price of $17.88.

DigitalBridge Group Stock Performance

NYSE:DBRG traded down $0.08 during midday trading on Tuesday, reaching $11.98. 2,643,470 shares of the stock traded hands, compared to its average volume of 2,345,814. The stock has a market capitalization of $2.09 billion, a P/E ratio of 16.40, a PEG ratio of 13.76 and a beta of 1.89. DigitalBridge Group has a 12 month low of $11.07 and a 12 month high of $20.99. The company has a fifty day moving average of $13.78 and a 200 day moving average of $13.46.

DigitalBridge Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.01 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.33%. DigitalBridge Group’s dividend payout ratio is currently 5.48%.

Institutional Trading of DigitalBridge Group

Large investors have recently modified their holdings of the business. Wafra Inc. grew its position in shares of DigitalBridge Group by 7.1% in the 2nd 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 during the last quarter. State Street Corp boosted its holdings in DigitalBridge Group by 12.0% in the third quarter. State Street Corp now owns 4,427,379 shares of the company’s stock valued at $62,603,000 after acquiring an additional 474,101 shares in the last quarter. Geode Capital Management LLC raised its holdings in DigitalBridge Group by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,167,413 shares of the company’s stock worth $58,895,000 after purchasing an additional 317,776 shares in the last quarter. New South Capital Management Inc. lifted its position in shares of DigitalBridge Group by 0.3% in the 3rd quarter. New South Capital Management Inc. now owns 3,940,203 shares of the company’s stock worth $55,675,000 after purchasing an additional 10,441 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of DigitalBridge Group by 27.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,640,632 shares of the company’s stock valued at $51,442,000 after purchasing an additional 791,506 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

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.