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

Arizona State Retirement System decreased its position in DigitalBridge Group, Inc. (NYSE:DBRG) by 1.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 45,419 shares of the company’s stock after selling 674 shares during the period. Arizona State Retirement System’s holdings in DigitalBridge Group were worth $797,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DBRG. Strs Ohio increased its stake in shares of DigitalBridge Group by 2.1% during the third quarter. Strs Ohio now owns 34,200 shares of the company’s stock worth $601,000 after purchasing an additional 700 shares in the last quarter. Independent Advisor Alliance increased its stake in shares of DigitalBridge Group by 4.5% during the third quarter. Independent Advisor Alliance now owns 17,076 shares of the company’s stock worth $300,000 after purchasing an additional 734 shares in the last quarter. Vident Investment Advisory LLC increased its stake in shares of DigitalBridge Group by 4.2% during the fourth quarter. Vident Investment Advisory LLC now owns 23,319 shares of the company’s stock worth $255,000 after purchasing an additional 937 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of DigitalBridge Group by 1.0% during the first quarter. Ameriprise Financial Inc. now owns 94,242 shares of the company’s stock worth $1,130,000 after purchasing an additional 944 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of DigitalBridge Group by 76.9% during the first quarter. Nomura Asset Management Co. Ltd. now owns 2,300 shares of the company’s stock worth $28,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

Separately, Truist Financial boosted their price target on shares of DigitalBridge Group from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, DigitalBridge Group currently has a consensus rating of “Buy” and a consensus target price of $22.08.

DigitalBridge Group Stock Down 1.0 %

Shares of DBRG opened at $17.53 on Thursday. DigitalBridge Group, Inc. has a fifty-two week low of $10.20 and a fifty-two week high of $20.99. The firm’s 50 day moving average price is $18.75 and its 200 day moving average price is $17.71. The company has a market cap of $2.87 billion, a P/E ratio of 35.78 and a beta of 1.91.

DigitalBridge Group (NYSE:DBRG) last announced its quarterly earnings data on Tuesday, February 20th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. DigitalBridge Group had a net margin of 12.33% and a return on equity of 2.39%. The company had revenue of $350.31 million for the quarter, compared to the consensus estimate of $287.41 million. Research analysts forecast that DigitalBridge Group, Inc. will post -0.14 earnings per share for the current year.

DigitalBridge Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Sunday, March 31st were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend was Wednesday, March 27th. DigitalBridge Group’s payout ratio is 8.16%.

About DigitalBridge Group

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.