Wealth Enhancement Advisory Services LLC Invests $93,000 in DigitalBridge Group, Inc. (NYSE:DBRG)

Wealth Enhancement Advisory Services LLC purchased a new stake in DigitalBridge Group, Inc. (NYSE:DBRG) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,537 shares of the company’s stock, valued at approximately $93,000.

A number of other institutional investors and hedge funds have also bought and sold shares of DBRG. Horizon Kinetics Asset Management LLC grew its stake in DigitalBridge Group by 868.9% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 4,483,340 shares of the company’s stock valued at $50,572,000 after buying an additional 4,020,627 shares during the last quarter. Lazard Asset Management LLC grew its stake in DigitalBridge Group by 384.5% in the 4th quarter. Lazard Asset Management LLC now owns 3,346,966 shares of the company’s stock valued at $37,753,000 after buying an additional 2,656,100 shares during the last quarter. Lind Value II ApS acquired a new position in DigitalBridge Group in the 1st quarter valued at about $17,479,000. Brown Advisory Inc. grew its stake in DigitalBridge Group by 78.2% in the 4th quarter. Brown Advisory Inc. now owns 3,658,935 shares of the company’s stock valued at $41,273,000 after buying an additional 1,605,391 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in DigitalBridge Group by 128.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,302,415 shares of the company’s stock valued at $25,971,000 after buying an additional 1,294,275 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

DBRG has been the topic of a number of research reports. JMP Securities reiterated a “market outperform” rating and issued a $16.00 price target on shares of DigitalBridge Group in a research note on Friday, May 16th. Wall Street Zen raised shares of DigitalBridge Group from a “sell” rating to a “hold” rating in a report on Friday, June 27th. Truist Financial boosted their price objective on shares of DigitalBridge Group from $13.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, June 3rd. Finally, Keefe, Bruyette & Woods cut their price objective on shares of DigitalBridge Group from $13.50 to $10.50 and set a “market perform” rating for the company in a report on Tuesday, May 6th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, DigitalBridge Group presently has an average rating of “Buy” and a consensus price target of $15.94.

DigitalBridge Group Trading Up 4.4%

Shares of DigitalBridge Group stock opened at $10.86 on Friday. The company has a 50 day moving average of $10.41 and a 200-day moving average of $10.06. DigitalBridge Group, Inc. has a 1-year low of $6.41 and a 1-year high of $17.33. The company has a market cap of $1.91 billion, a PE ratio of 36.18, a price-to-earnings-growth ratio of 1.18 and a beta of 1.67.

DigitalBridge Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Monday, June 30th. DigitalBridge Group’s dividend payout ratio (DPR) is presently 13.33%.

DigitalBridge Group 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.