Nordea Investment Management AB Grows Position in DigitalBridge Group, Inc. $DBRG

Nordea Investment Management AB raised its position in DigitalBridge Group, Inc. (NYSE:DBRG) by 24.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 332,414 shares of the company’s stock after purchasing an additional 64,474 shares during the quarter. Nordea Investment Management AB owned 0.18% of DigitalBridge Group worth $3,849,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Frontier Capital Management Co. LLC raised its holdings in shares of DigitalBridge Group by 29.8% in the second quarter. Frontier Capital Management Co. LLC now owns 5,669,342 shares of the company’s stock worth $58,678,000 after buying an additional 1,302,150 shares during the period. Geode Capital Management LLC grew its position in DigitalBridge Group by 5.5% in the 2nd quarter. Geode Capital Management LLC now owns 3,908,311 shares of the company’s stock valued at $40,456,000 after acquiring an additional 204,770 shares during the last quarter. Invesco Ltd. increased its stake in DigitalBridge Group by 8.0% in the second quarter. Invesco Ltd. now owns 3,836,949 shares of the company’s stock worth $39,712,000 after purchasing an additional 285,721 shares during the period. Horizon Kinetics Asset Management LLC lifted its position in shares of DigitalBridge Group by 5.0% during the second quarter. Horizon Kinetics Asset Management LLC now owns 3,617,965 shares of the company’s stock worth $37,446,000 after purchasing an additional 171,988 shares during the last quarter. Finally, Private Management Group Inc. boosted its stake in shares of DigitalBridge Group by 1.0% during the second quarter. Private Management Group Inc. now owns 2,485,817 shares of the company’s stock valued at $25,728,000 after purchasing an additional 24,061 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

DBRG has been the subject of several research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of DigitalBridge Group in a report on Wednesday, October 8th. Citizens Jmp lowered shares of DigitalBridge Group from a “market outperform” rating to a “hold” rating and set a $16.00 price objective for the company. in a research note on Monday, December 29th. Royal Bank Of Canada downgraded shares of DigitalBridge Group from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $23.00 to $16.00 in a research report on Tuesday, December 30th. TD Cowen lowered shares of DigitalBridge Group from a “buy” rating to a “hold” rating and set a $16.00 price target for the company. in a report on Tuesday, December 30th. Finally, Zacks Research upgraded shares of DigitalBridge Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 5th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, DigitalBridge Group currently has a consensus rating of “Hold” and an average target price of $16.22.

DigitalBridge Group Price Performance

Shares of DBRG stock opened at $15.35 on Monday. The stock’s fifty day moving average price is $12.74 and its 200 day moving average price is $11.92. DigitalBridge Group, Inc. has a 1-year low of $6.41 and a 1-year high of $15.55. The company has a market cap of $2.80 billion, a price-to-earnings ratio of 255.79 and a beta of 1.69.

DigitalBridge Group (NYSE:DBRG) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. The business had revenue of $3.82 million during the quarter, compared to analyst estimates of $96.45 million. During the same period in the prior year, the business posted ($0.01) EPS. DigitalBridge Group’s revenue was up 21.6% compared to the same quarter last year. As a group, equities research analysts anticipate that DigitalBridge Group, Inc. will post 0.17 earnings per share for the current year.

DigitalBridge Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Wednesday, December 31st. DigitalBridge Group’s payout ratio is presently 66.67%.

About DigitalBridge Group

DigitalBridge Group, Inc (NYSE: DBRG) is a specialized global investment firm focused exclusively on digital infrastructure. The company originates, acquires, and manages a diversified portfolio of businesses that support the digital economy, including data centers, cell towers, small cells, fiber networks, edge infrastructure and related services. DigitalBridge seeks to generate sustainable, long-term returns for its investors by deploying capital into high-growth sectors driven by increasing data consumption, 5G deployment and cloud adoption.

Through its dedicated investment platforms, DigitalBridge provides equity and debt financing solutions to operators and owners of digital infrastructure assets.