Tidal Investments LLC Acquires 18,536 Shares of DigitalBridge Group, Inc. (NYSE:DBRG)

Tidal Investments LLC boosted its holdings in DigitalBridge Group, Inc. (NYSE:DBRG) by 22.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 99,995 shares of the company’s stock after acquiring an additional 18,536 shares during the period. Tidal Investments LLC owned 0.06% of DigitalBridge Group worth $1,413,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Wafra Inc. raised its position in shares of DigitalBridge Group by 7.1% in the second quarter. Wafra Inc. now owns 15,455,808 shares of the company’s stock valued at $211,745,000 after purchasing an additional 1,020,409 shares during the period. State Street Corp raised its holdings in DigitalBridge Group by 12.0% in the 3rd 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 during the period. Geode Capital Management LLC lifted its position in DigitalBridge Group by 8.3% during the third quarter. Geode Capital Management LLC now owns 4,167,413 shares of the company’s stock worth $58,895,000 after acquiring an additional 317,776 shares during the last quarter. New South Capital Management Inc. boosted its holdings in shares of DigitalBridge Group by 0.3% during the third quarter. New South Capital Management Inc. now owns 3,940,203 shares of the company’s stock worth $55,675,000 after acquiring an additional 10,441 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in shares of DigitalBridge Group by 27.8% in the third 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 during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on DBRG shares. Keefe, Bruyette & Woods cut DigitalBridge Group from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $17.75 to $14.00 in a report on Wednesday, November 6th. Truist Financial reduced their target price on shares of DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. Raymond James decreased their price target on shares of DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, November 5th. Wells Fargo & Company dropped 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. Finally, JPMorgan Chase & Co. increased their target price on shares of DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $17.88.

DigitalBridge Group Stock Down 5.3 %

DBRG stock opened at $11.34 on Thursday. The company’s 50-day moving average price is $13.66 and its two-hundred day moving average price is $13.43. The firm has a market cap of $1.98 billion, a P/E ratio of 15.53, a P/E/G ratio of 13.76 and a beta of 1.89. DigitalBridge Group, Inc. has a 12 month low of $11.07 and a 12 month high of $20.99.

DigitalBridge Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given 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 0.35%. DigitalBridge Group’s dividend payout ratio is currently 5.48%.

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.