Point72 Asia Singapore Pte. Ltd. Acquires New Shares in DigitalBridge Group, Inc. (NYSE:DBRG)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of DigitalBridge Group, Inc. (NYSE:DBRG) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 42,919 shares of the company’s stock, valued at approximately $606,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale bought a new position in DigitalBridge Group during the 1st quarter worth about $1,247,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of DigitalBridge Group by 24.9% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,364,524 shares of the company’s stock valued at $19,281,000 after purchasing an additional 271,853 shares during the period. Manning & Napier Advisors LLC acquired a new stake in DigitalBridge Group in the 2nd quarter valued at about $3,234,000. Comerica Bank grew its holdings in DigitalBridge Group by 2,778.9% during the first quarter. Comerica Bank now owns 154,279 shares of the company’s stock worth $2,973,000 after purchasing an additional 148,920 shares during the period. Finally, Tidal Investments LLC increased its position in DigitalBridge Group by 377.2% during the first quarter. Tidal Investments LLC now owns 58,692 shares of the company’s stock worth $1,131,000 after buying an additional 46,392 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors.

DigitalBridge Group Price Performance

DBRG stock opened at $13.29 on Tuesday. DigitalBridge Group, Inc. has a fifty-two week low of $11.07 and a fifty-two week high of $20.99. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 18.21, a PEG ratio of 14.72 and a beta of 1.89. The business’s fifty day moving average price is $14.17 and its two-hundred day moving average price is $13.51.

DigitalBridge Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Tuesday, December 31st. DigitalBridge Group’s dividend payout ratio is 5.48%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wells Fargo & Company cut their price objective on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Raymond James cut their price target on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Truist Financial dropped their price objective on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. raised their target price 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 given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $18.13.

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.