DigitalBridge Group, Inc. (NYSE:DBRG) Short Interest Update

DigitalBridge Group, Inc. (NYSE:DBRG – Get Rating) saw a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 8,620,000 shares, a growth of 15.5% from the February 13th total of 7,460,000 shares. Based on an average trading volume of 1,610,000 shares, the short-interest ratio is presently 5.4 days. Currently, 5.5% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Cowen lowered their price target on DigitalBridge Group from $27.00 to $20.00 in a research report on Monday, February 27th. Deutsche Bank Aktiengesellschaft assumed coverage on DigitalBridge Group in a research note on Wednesday, February 15th. They issued a “buy” rating and a $18.00 price target on the stock. JPMorgan Chase & Co. lowered their price target on DigitalBridge Group from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, February 27th. Raymond James decreased their price target on DigitalBridge Group from $34.00 to $25.00 and set a “strong-buy” rating on the stock in a research note on Thursday, March 2nd. Finally, Wells Fargo & Company cut their price objective on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday, February 27th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $22.43.

Hedge Funds Weigh In On DigitalBridge Group

Institutional investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new position in DigitalBridge Group during the 2nd quarter valued at about $412,000. Conversant Capital LLC raised its stake in shares of DigitalBridge Group by 100.9% in the second quarter. Conversant Capital LLC now owns 9,203,000 shares of the company’s stock worth $44,911,000 after acquiring an additional 4,623,000 shares during the last quarter. Security Benefit Life Insurance Co. KS bought a new position in shares of DigitalBridge Group in the second quarter worth about $45,154,000. Akre Capital Management LLC raised its stake in shares of DigitalBridge Group by 56.0% in the second quarter. Akre Capital Management LLC now owns 16,390,191 shares of the company’s stock worth $79,984,000 after acquiring an additional 5,885,391 shares during the last quarter. Finally, Ranger Global Real Estate Advisors LLC raised its stake in shares of DigitalBridge Group by 33.9% in the second quarter. Ranger Global Real Estate Advisors LLC now owns 10,807,074 shares of the company’s stock worth $52,739,000 after acquiring an additional 2,737,213 shares during the last quarter. 88.52% of the stock is owned by institutional investors.

DigitalBridge Group Stock Down 1.9 %

DigitalBridge Group stock opened at $11.29 on Tuesday. The company has a market capitalization of $1.81 billion, a P/E ratio of -4.36 and a beta of 2.06. DigitalBridge Group has a 1-year low of $10.39 and a 1-year high of $30.66. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.41. The firm’s fifty day simple moving average is $12.95 and its 200-day simple moving average is $13.60.

DigitalBridge Group (NYSE:DBRG – Get Rating) last issued its earnings results on Friday, February 24th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.22). DigitalBridge Group had a negative net margin of 28.11% and a negative return on equity of 3.27%. The business had revenue of $301.90 million for the quarter, compared to analyst estimates of $294.67 million. During the same quarter last year, the firm posted ($0.04) earnings per share. DigitalBridge Group’s revenue was up 18.0% on a year-over-year basis. Sell-side analysts forecast that DigitalBridge Group will post 0.47 earnings per share for the current fiscal year.

DigitalBridge Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Investors of record on Friday, March 31st will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend is Thursday, March 30th. DigitalBridge Group’s dividend payout ratio is currently -1.54%.

About DigitalBridge Group

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DigitalBridge Group, Inc is a digital infrastructure company that engages in investing in digital ecosystem including cell towers, data centers, fiber, small cells, and edge infrastructure. It operates through the Digital Investment Management (Digital IM) and Corporate and Other segments. The Digital IM segment represents a digital infrastructure investment platform, managing capital on behalf of a diverse base of global investors.