Intech Investment Management LLC Sells 37,741 Shares of DigitalBridge Group, Inc. $DBRG

Intech Investment Management LLC lowered its stake in shares of DigitalBridge Group, Inc. (NYSE:DBRG) by 37.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,299 shares of the company’s stock after selling 37,741 shares during the period. Intech Investment Management LLC’s holdings in DigitalBridge Group were worth $729,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of DBRG. CWM LLC boosted its stake in shares of DigitalBridge Group by 2.5% during the 3rd quarter. CWM LLC now owns 31,239 shares of the company’s stock worth $365,000 after acquiring an additional 755 shares during the period. Teacher Retirement System of Texas raised its stake in DigitalBridge Group by 4.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 26,468 shares of the company’s stock valued at $274,000 after acquiring an additional 1,031 shares during the period. Stoneridge Investment Partners LLC lifted its holdings in DigitalBridge Group by 7.9% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 14,153 shares of the company’s stock valued at $166,000 after purchasing an additional 1,037 shares during the last quarter. Arizona State Retirement System lifted its holdings in DigitalBridge Group by 2.4% during the 3rd quarter. Arizona State Retirement System now owns 52,115 shares of the company’s stock valued at $610,000 after purchasing an additional 1,244 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in DigitalBridge Group by 12.5% during the second quarter. Envestnet Asset Management Inc. now owns 11,746 shares of the company’s stock worth $122,000 after purchasing an additional 1,309 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

DigitalBridge Group Price Performance

DBRG stock opened at $15.40 on Tuesday. DigitalBridge Group, Inc. has a fifty-two week low of $6.41 and a fifty-two week high of $15.55. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 34.21 and a beta of 1.67. The business’s fifty day moving average price is $15.39 and its two-hundred day moving average price is $13.08.

DigitalBridge Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, March 31st. DigitalBridge Group’s dividend payout ratio (DPR) is currently 8.89%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. TD Cowen downgraded shares of DigitalBridge Group from a “buy” rating to a “hold” rating and set a $16.00 price objective on the stock. in a report on Tuesday, December 30th. B. Riley Financial downgraded shares of DigitalBridge Group from a “buy” rating to a “hold” rating and reduced their target price for the stock from $20.00 to $16.00 in a report on Tuesday, December 30th. Keefe, Bruyette & Woods upped their price target on shares of DigitalBridge Group from $13.50 to $16.00 and gave the company a “market perform” rating in a research note on Tuesday, December 30th. Citizens Jmp cut shares of DigitalBridge Group from a “market outperform” rating to a “hold” rating and set a $16.00 price target on the stock. in a report on Monday, December 29th. Finally, Weiss Ratings upgraded shares of DigitalBridge Group from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $16.00.

DigitalBridge Group Profile

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.