Arizona State Retirement System Boosts Holdings in DigitalBridge Group, Inc. (NYSE:DBRG)

Arizona State Retirement System lifted its stake in DigitalBridge Group, Inc. (NYSE:DBRG – Get Rating) by 4.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,803 shares of the company’s stock after purchasing an additional 6,265 shares during the quarter. Arizona State Retirement System’s holdings in DigitalBridge Group were worth $999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of DBRG. Rise Advisors LLC purchased a new position in DigitalBridge Group in the 1st quarter worth about $32,000. Whittier Trust Co. raised its position in DigitalBridge Group by 222.1% in the 1st quarter. Whittier Trust Co. now owns 5,076 shares of the company’s stock worth $37,000 after buying an additional 3,500 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in DigitalBridge Group in the 1st quarter worth about $71,000. Key Client Fiduciary Advisors LLC purchased a new position in DigitalBridge Group in the 4th quarter worth about $83,000. Finally, McDonald Partners LLC purchased a new position in DigitalBridge Group in the 1st quarter worth about $75,000. Hedge funds and other institutional investors own 79.37% of the company’s stock.

Analysts Set New Price Targets

Separately, BMO Capital Markets lowered DigitalBridge Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 11th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, DigitalBridge Group currently has a consensus rating of “Moderate Buy” and an average price target of $9.88.

DigitalBridge Group Price Performance

NYSE DBRG opened at $5.39 on Wednesday. DigitalBridge Group, Inc. has a 52 week low of $4.49 and a 52 week high of $8.55. The firm has a market capitalization of $3.07 billion, a P/E ratio of -7.61 and a beta of 1.77. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 1.57. The company has a 50-day moving average price of $5.25 and a 200-day moving average price of $6.37.

DigitalBridge Group (NYSE:DBRG – Get Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported ($0.46) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.47). DigitalBridge Group had a negative net margin of 30.95% and a negative return on equity of 3.79%. During the same quarter in the previous year, the business posted $0.01 EPS. Equities research analysts anticipate that DigitalBridge Group, Inc. will post -0.11 earnings per share for the current year.

DigitalBridge Group Profile

(Get Rating)

DigitalBridge Group, Inc is a leading global digital infrastructure REIT and private equity firm. With a heritage of over 25 years investing in and operating businesses across the digital ecosystem including towers, data centers, fiber, small cells, and edge infrastructure, the DigitalBridge team manages a $35 billion portfolio of digital infrastructure assets on behalf of its limited partners and shareholders.