Clearline Capital LP Acquires 260,591 Shares of DigitalBridge Group, Inc. (NYSE:DBRG)

Clearline Capital LP raised its stake in shares of DigitalBridge Group, Inc. (NYSE:DBRG) by 49.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 789,118 shares of the company’s stock after purchasing an additional 260,591 shares during the quarter. Clearline Capital LP owned 0.45% of DigitalBridge Group worth $8,901,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Covestor Ltd lifted its stake in DigitalBridge Group by 9.8% in the 4th quarter. Covestor Ltd now owns 11,752 shares of the company’s stock valued at $133,000 after acquiring an additional 1,049 shares in the last quarter. Summit Investment Advisors Inc. increased its holdings in DigitalBridge Group by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 16,631 shares of the company’s stock worth $188,000 after purchasing an additional 1,056 shares in the last quarter. Xponance Inc. increased its position in DigitalBridge Group by 12.7% in the 4th quarter. Xponance Inc. now owns 11,725 shares of the company’s stock valued at $132,000 after buying an additional 1,321 shares in the last quarter. Stoneridge Investment Partners LLC lifted its stake in shares of DigitalBridge Group by 22.5% in the fourth quarter. Stoneridge Investment Partners LLC now owns 13,116 shares of the company’s stock valued at $148,000 after buying an additional 2,408 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in DigitalBridge Group by 0.8% during the 4th quarter. Swiss National Bank now owns 341,625 shares of the company’s stock worth $3,854,000 after acquiring an additional 2,700 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

DBRG has been the subject of several research reports. Citizens Jmp upgraded DigitalBridge Group to a “strong-buy” rating in a research note on Monday, January 27th. Wells Fargo & Company lifted their price objective on shares of DigitalBridge Group from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. Keefe, Bruyette & Woods reduced their target price on shares of DigitalBridge Group from $13.50 to $10.50 and set a “market perform” rating on the stock in a report on Tuesday. Truist Financial dropped their price target on shares of DigitalBridge Group from $15.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. Finally, JMP Securities initiated coverage on DigitalBridge Group in a research report on Monday, January 27th. They set an “outperform” rating and a $16.00 price target on the stock. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, DigitalBridge Group currently has a consensus rating of “Buy” and an average target price of $16.06.

DigitalBridge Group Price Performance

Shares of DBRG stock opened at $8.73 on Thursday. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 291.00, a PEG ratio of 3.46 and a beta of 1.58. The company’s fifty day moving average price is $8.72 and its 200-day moving average price is $10.90. DigitalBridge Group, Inc. has a one year low of $6.41 and a one year high of $17.33.

DigitalBridge Group (NYSE:DBRG) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.03. DigitalBridge Group had a net margin of 10.98% and a return on equity of 4.29%. The firm had revenue of $101.55 million for the quarter, compared to analysts’ expectations of $93.01 million. Equities research analysts expect that DigitalBridge Group, Inc. will post 0.17 earnings per share for the current fiscal year.

DigitalBridge Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.01 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.04 annualized dividend and a yield of 0.46%. DigitalBridge Group’s dividend payout ratio (DPR) is 13.33%.

DigitalBridge Group Company 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.