Bank of Montreal Can purchased a new stake in DigitalBridge Group, Inc. (NYSE:DBRG – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 29,487 shares of the company’s stock, valued at approximately $434,000.
Other institutional investors have also recently added to or reduced their stakes in the company. American Assets Investment Management LLC lifted its stake in DigitalBridge Group by 17.4% in the first quarter. American Assets Investment Management LLC now owns 65,789 shares of the company’s stock valued at $789,000 after buying an additional 9,741 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in shares of DigitalBridge Group by 48.5% during the first quarter. Vanguard Personalized Indexing Management LLC now owns 20,741 shares of the company’s stock valued at $249,000 after acquiring an additional 6,772 shares in the last quarter. New York Life Investment Management LLC bought a new stake in shares of DigitalBridge Group during the first quarter valued at approximately $1,122,000. Moody National Bank Trust Division increased its holdings in shares of DigitalBridge Group by 65.1% during the second quarter. Moody National Bank Trust Division now owns 21,723 shares of the company’s stock valued at $320,000 after acquiring an additional 8,565 shares in the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of DigitalBridge Group by 30,851.7% during the second quarter. National Bank of Canada FI now owns 193,448 shares of the company’s stock valued at $2,974,000 after acquiring an additional 192,823 shares in the last quarter. 90.43% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms have recently commented on DBRG. JPMorgan Chase & Co. upgraded DigitalBridge Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $19.00 to $25.00 in a report on Thursday, September 28th. Truist Financial decreased their price objective on DigitalBridge Group from $35.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, September 20th. Royal Bank of Canada upped their price target on DigitalBridge Group from $14.00 to $25.00 and gave the stock an “outperform” rating in a report on Monday, August 14th. Raymond James decreased their price target on DigitalBridge Group from $25.00 to $24.00 and set a “strong-buy” rating for the company in a report on Thursday, November 2nd. Finally, TheStreet upgraded DigitalBridge Group from a “d” rating to a “c-” rating in a report on Wednesday, November 1st. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $21.94.
DigitalBridge Group Price Performance
Shares of NYSE:DBRG opened at $16.70 on Friday. The company has a market capitalization of $2.73 billion, a PE ratio of -79.52 and a beta of 2.06. The business has a fifty day moving average price of $16.44 and a two-hundred day moving average price of $15.18. DigitalBridge Group, Inc. has a 1 year low of $9.99 and a 1 year high of $18.43.
DigitalBridge Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Sunday, December 31st will be paid a $0.01 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.04 dividend on an annualized basis and a yield of 0.24%. DigitalBridge Group’s dividend payout ratio (DPR) is presently -19.05%.
DigitalBridge Group Profile
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.
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