Pallas Capital Advisors LLC Invests $140,000 in DigitalBridge Group, Inc. $DBRG

Pallas Capital Advisors LLC bought a new position in DigitalBridge Group, Inc. (NYSE:DBRG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 13,479 shares of the company’s stock, valued at approximately $140,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA grew its position in DigitalBridge Group by 16.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 4,029,913 shares of the company’s stock valued at $35,544,000 after purchasing an additional 567,170 shares in the last quarter. Brown Advisory Inc. grew its position in DigitalBridge Group by 0.9% during the first quarter. Brown Advisory Inc. now owns 3,692,895 shares of the company’s stock valued at $32,571,000 after purchasing an additional 33,960 shares in the last quarter. Invesco Ltd. grew its position in DigitalBridge Group by 7.2% during the first quarter. Invesco Ltd. now owns 3,551,228 shares of the company’s stock valued at $31,322,000 after purchasing an additional 237,503 shares in the last quarter. Private Management Group Inc. grew its position in DigitalBridge Group by 65.9% during the first quarter. Private Management Group Inc. now owns 2,461,756 shares of the company’s stock valued at $21,713,000 after purchasing an additional 978,162 shares in the last quarter. Finally, Clearline Capital LP grew its position in DigitalBridge Group by 189.8% during the first quarter. Clearline Capital LP now owns 2,286,782 shares of the company’s stock valued at $20,169,000 after purchasing an additional 1,497,664 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

DigitalBridge Group Stock Up 2.5%

Shares of NYSE DBRG opened at $12.34 on Tuesday. The firm’s 50-day simple moving average is $11.19 and its 200 day simple moving average is $10.14. The company has a market cap of $2.25 billion, a price-to-earnings ratio of -308.38 and a beta of 1.63. DigitalBridge Group, Inc. has a 12-month low of $6.41 and a 12-month high of $17.33.

DigitalBridge Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.01 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. DigitalBridge Group’s dividend payout ratio is presently -100.00%.

Analyst Upgrades and Downgrades

DBRG has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of DigitalBridge Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Truist Financial lifted their target price on shares of DigitalBridge Group from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of DigitalBridge Group from $10.50 to $11.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $16.14.

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.