New York State Teachers Retirement System Makes New Investment in DigitalBridge Group, Inc. (NYSE:DBRG)

New York State Teachers Retirement System purchased a new stake in shares of DigitalBridge Group, Inc. (NYSE:DBRG) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 9,974 shares of the company’s stock, valued at approximately $175,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Arkadios Wealth Advisors bought a new position in shares of DigitalBridge Group during the fourth quarter valued at $223,000. Pacer Advisors Inc. bought a new position in shares of DigitalBridge Group during the fourth quarter valued at $19,351,000. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of DigitalBridge Group by 252.9% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 117,583 shares of the company’s stock valued at $2,062,000 after purchasing an additional 84,268 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of DigitalBridge Group by 311.5% during the fourth quarter. Raymond James & Associates now owns 469,647 shares of the company’s stock valued at $8,238,000 after purchasing an additional 355,524 shares in the last quarter. Finally, Advisor Resource Council bought a new position in shares of DigitalBridge Group during the fourth quarter valued at $251,000. 92.69% of the stock is owned by institutional investors.

DigitalBridge Group Stock Performance

DigitalBridge Group stock opened at $17.29 on Friday. The stock has a market cap of $2.83 billion, a PE ratio of 35.29 and a beta of 1.91. DigitalBridge Group, Inc. has a one year low of $10.20 and a one year high of $20.99. The stock has a fifty day moving average of $18.64 and a 200 day moving average of $17.71.

DigitalBridge Group (NYSE:DBRG) last posted 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. The company had revenue of $350.31 million during the quarter, compared to analysts’ expectations of $287.41 million. DigitalBridge Group had a return on equity of 2.39% and a net margin of 12.33%. As a group, sell-side analysts predict that DigitalBridge Group, Inc. will post -0.14 EPS for the current fiscal year.

DigitalBridge Group Announces Dividend

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

Analyst Ratings Changes

Separately, Truist Financial upped their price target on DigitalBridge Group from $20.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $22.08.

DigitalBridge Group Company Profile

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.