Geode Capital Management LLC Buys 317,776 Shares of DigitalBridge Group, Inc. (NYSE:DBRG)

Geode Capital Management LLC lifted its position in DigitalBridge Group, Inc. (NYSE:DBRG) by 8.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,167,413 shares of the company’s stock after acquiring an additional 317,776 shares during the quarter. Geode Capital Management LLC owned approximately 2.39% of DigitalBridge Group worth $58,895,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in DigitalBridge Group by 4.1% in the 2nd quarter. Victory Capital Management Inc. now owns 22,165 shares of the company’s stock worth $304,000 after purchasing an additional 870 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of DigitalBridge Group by 1.9% in the second quarter. Arizona State Retirement System now owns 45,735 shares of the company’s stock valued at $627,000 after acquiring an additional 872 shares in the last quarter. Fulton Bank N.A. grew its holdings in shares of DigitalBridge Group by 3.2% in the third quarter. Fulton Bank N.A. now owns 28,372 shares of the company’s stock valued at $401,000 after acquiring an additional 878 shares in the last quarter. King Luther Capital Management Corp increased its position in shares of DigitalBridge Group by 1.3% during the second quarter. King Luther Capital Management Corp now owns 71,038 shares of the company’s stock valued at $973,000 after acquiring an additional 942 shares during the last quarter. Finally, nVerses Capital LLC lifted its holdings in DigitalBridge Group by 633.3% during the second quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock worth $30,000 after acquiring an additional 1,900 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on DBRG shares. Keefe, Bruyette & Woods lowered DigitalBridge Group from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $17.75 to $14.00 in a research report on Wednesday, November 6th. Raymond James decreased their price objective on shares of DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a report on Tuesday, November 5th. Truist Financial dropped their target price on shares of DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Wells Fargo & Company decreased their price target on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. lifted their price target on shares of DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, DigitalBridge Group has a consensus rating of “Buy” and a consensus target price of $17.88.

DigitalBridge Group Trading Down 1.0 %

DigitalBridge Group stock opened at $11.05 on Friday. The firm has a 50 day simple moving average of $13.49 and a 200 day simple moving average of $13.40. DigitalBridge Group, Inc. has a 1-year low of $10.99 and a 1-year high of $20.99. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 15.14, a P/E/G ratio of 13.76 and a beta of 1.89.

DigitalBridge Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Tuesday, December 31st. DigitalBridge Group’s dividend payout ratio (DPR) is presently 5.48%.

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.