DigitalBridge Group, Inc. (NYSE:DBRG) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its holdings in DigitalBridge Group, Inc. (NYSE:DBRG) by 2.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 194,682 shares of the company’s stock after selling 4,135 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.12% of DigitalBridge Group worth $2,864,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in DBRG. Nomura Asset Management Co. Ltd. boosted its stake in DigitalBridge Group by 76.9% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 2,300 shares of the company’s stock valued at $28,000 after purchasing an additional 1,000 shares in the last quarter. Bessemer Group Inc. boosted its stake in DigitalBridge Group by 774.1% during the 1st quarter. Bessemer Group Inc. now owns 2,395 shares of the company’s stock valued at $29,000 after purchasing an additional 2,121 shares in the last quarter. Quarry LP bought a new position in DigitalBridge Group during the 1st quarter valued at $32,000. Dark Forest Capital Management LP boosted its stake in DigitalBridge Group by 161.1% during the 1st quarter. Dark Forest Capital Management LP now owns 2,781 shares of the company’s stock valued at $33,000 after purchasing an additional 1,716 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new position in DigitalBridge Group during the 1st quarter valued at $34,000. 90.43% of the stock is currently owned by institutional investors and hedge funds.

DigitalBridge Group Stock Down 0.1 %

DBRG opened at $16.20 on Monday. The stock has a fifty day moving average of $16.67 and a 200-day moving average of $14.94. The firm has a market capitalization of $2.63 billion, a P/E ratio of -77.14 and a beta of 2.06. DigitalBridge Group, Inc. has a 12-month low of $9.99 and a 12-month high of $18.43.

DigitalBridge Group (NYSE:DBRG) last released its earnings results on Friday, August 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The business had revenue of $424.93 million during the quarter, compared to analysts’ expectations of $315.48 million. DigitalBridge Group had a net margin of 4.50% and a return on equity of 1.27%. On average, analysts expect that DigitalBridge Group, Inc. will post -0.17 earnings per share for the current fiscal year.

DigitalBridge Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Sunday, December 31st will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.25%. DigitalBridge Group’s payout ratio is currently -19.05%.

Wall Street Analysts Forecast Growth

DBRG has been the subject of a number of research reports. TheStreet raised DigitalBridge Group from a “d” rating to a “c-” rating in a research note on Wednesday. Raymond James reduced their price objective on DigitalBridge Group from $25.00 to $24.00 and set a “strong-buy” rating for the company in a research note on Thursday. Royal Bank of Canada raised their price objective on DigitalBridge Group from $14.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, August 14th. JPMorgan Chase & Co. raised DigitalBridge Group from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $19.00 to $25.00 in a research note on Thursday, September 28th. Finally, Truist Financial reduced their price objective on DigitalBridge Group from $35.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, September 20th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $22.45.

About DigitalBridge Group

DigitalBridge (NYSE: DBRG) is a leading global digital infrastructure firm. With a heritage of over 25 years investing in and operating businesses across the digital ecosystem including cell towers, data centers, fiber, small cells, and edge infrastructure, the DigitalBridge team manages a $69 billion portfolio of digital infrastructure assets on behalf of its limited partners and shareholders.