Portolan Capital Management LLC Takes $3.31 Million Position in DigitalBridge Group, Inc. (NYSE:DBRG)

Portolan Capital Management LLC acquired a new position in shares of DigitalBridge Group, Inc. (NYSE:DBRG) in the 3rd quarter, Holdings Channel reports. The fund acquired 234,238 shares of the company’s stock, valued at approximately $3,310,000.

A number of other hedge funds have also modified their holdings of the company. nVerses Capital LLC boosted its position in DigitalBridge Group by 633.3% during the 2nd 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 last quarter. Meeder Asset Management Inc. bought a new stake in shares of DigitalBridge Group in the third quarter worth $34,000. Central Pacific Bank Trust Division acquired a new position in DigitalBridge Group during the third quarter worth $35,000. Blue Trust Inc. grew its position in DigitalBridge Group by 179.2% in the third quarter. Blue Trust Inc. now owns 3,752 shares of the company’s stock valued at $51,000 after purchasing an additional 2,408 shares in the last quarter. Finally, Headlands Technologies LLC grew its position in DigitalBridge Group by 33,627.3% in the second quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock valued at $102,000 after purchasing an additional 7,398 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

DigitalBridge Group Trading Down 1.1 %

Shares of DBRG stock opened at $13.13 on Wednesday. The stock has a 50 day simple moving average of $14.14 and a 200 day simple moving average of $13.50. DigitalBridge Group, Inc. has a 1 year low of $11.07 and a 1 year high of $20.99. The stock has a market cap of $2.29 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 14.92 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. Investors of record on Tuesday, December 31st will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date is Tuesday, December 31st. DigitalBridge Group’s payout ratio is currently 5.48%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on DBRG shares. Truist Financial reduced their price objective on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Raymond James cut their price objective on DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a research report on Tuesday, November 5th. Keefe, Bruyette & Woods downgraded DigitalBridge Group from an “outperform” rating to a “market perform” rating and cut their price target for the company from $17.75 to $14.00 in a report on Wednesday, November 6th. JPMorgan Chase & Co. raised their target price on shares of DigitalBridge Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Finally, Wells Fargo & Company reduced their target price on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, November 4th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $18.13.

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.