Franklin Resources Inc. Buys 78,723 Shares of DigitalBridge Group, Inc. (NYSE:DBRG)

Franklin Resources Inc. grew its stake in DigitalBridge Group, Inc. (NYSE:DBRGFree Report) by 555.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,896 shares of the company’s stock after acquiring an additional 78,723 shares during the period. Franklin Resources Inc. owned 0.06% of DigitalBridge Group worth $1,629,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in DBRG. CWM LLC grew its stake in DigitalBridge Group by 59.9% in the 4th quarter. CWM LLC now owns 8,371 shares of the company’s stock worth $147,000 after acquiring an additional 3,135 shares in the last quarter. Bfsg LLC purchased a new stake in shares of DigitalBridge Group in the 4th quarter worth approximately $171,000. New York State Teachers Retirement System purchased a new stake in shares of DigitalBridge Group in the 4th quarter worth approximately $175,000. Pathstone Family Office LLC purchased a new stake in shares of DigitalBridge Group in the 3rd quarter worth approximately $223,000. Finally, Arkadios Wealth Advisors purchased a new stake in shares of DigitalBridge Group in the 4th quarter worth approximately $223,000. 92.69% of the stock is currently owned by institutional investors.

DigitalBridge Group Stock Down 1.0 %

NYSE:DBRG opened at $13.26 on Wednesday. DigitalBridge Group, Inc. has a 52 week low of $12.33 and a 52 week high of $20.99. The firm has a 50 day moving average of $15.98 and a 200 day moving average of $17.41. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of 8.55 and a beta of 1.96.

DigitalBridge Group (NYSE:DBRGGet Free Report) last posted its earnings results on Tuesday, April 30th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). DigitalBridge Group had a net margin of 26.64% and a return on equity of 3.14%. The firm had revenue of $74.39 million for the quarter, compared to analysts’ expectations of $100.76 million. As a group, analysts expect that DigitalBridge Group, Inc. will post 0.25 EPS for the current year.

DigitalBridge Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Sunday, June 30th will be given a dividend of $0.01 per share. The ex-dividend date is Friday, June 28th. This represents a $0.04 dividend on an annualized basis and a yield of 0.30%. DigitalBridge Group’s payout ratio is 2.58%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DBRG shares. JPMorgan Chase & Co. lowered their price target on shares of DigitalBridge Group from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Truist Financial lowered their price target on shares of DigitalBridge Group from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $22.00.

View Our Latest Research Report on DigitalBridge Group

DigitalBridge Group Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for DigitalBridge Group (NYSE:DBRG)

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