DigitalBridge Group, Inc. (NYSE:DBRG) Short Interest Up 30.1% in March

DigitalBridge Group, Inc. (NYSE:DBRG) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totaling 18,544,212 shares, a growth of 30.1% from the March 15th total of 14,249,419 shares. Based on an average trading volume of 2,967,555 shares, the days-to-cover ratio is currently 6.2 days. Approximately 10.5% of the shares of the stock are short sold.

Analysts Set New Price Targets

A number of research analysts recently commented on DBRG shares. Keefe, Bruyette & Woods raised their price objective 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 lowered shares of DigitalBridge Group from a “market outperform” rating to a “hold” rating and set a $16.00 price objective on the stock. in a research note on Monday, December 29th. Weiss Ratings upgraded shares of DigitalBridge Group from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, March 2nd. TD Cowen lowered shares of DigitalBridge Group from a “buy” rating to a “hold” rating and set a $16.00 price objective on the stock. in a research note on Tuesday, December 30th. Finally, Truist Financial started coverage on shares of DigitalBridge Group in a research note on Tuesday, March 31st. They set a “buy” rating and a $16.00 price objective on the stock. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $16.00.

DigitalBridge Group Stock Performance

DigitalBridge Group stock opened at $15.59 on Friday. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 34.63 and a beta of 1.61. DigitalBridge Group has a 1 year low of $7.74 and a 1 year high of $15.60. The firm’s 50 day moving average price is $15.43 and its two-hundred day moving average price is $13.82.

DigitalBridge Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a $0.01 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $0.04 annualized dividend and a yield of 0.3%. DigitalBridge Group’s payout ratio is 8.89%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Pentwater Capital Management LP purchased a new position in DigitalBridge Group during the 4th quarter worth approximately $176,410,000. KRYGER CAPITAL Ltd purchased a new position in DigitalBridge Group during the 4th quarter worth approximately $75,234,000. Soros Fund Management LLC purchased a new position in DigitalBridge Group during the 4th quarter worth approximately $36,816,000. Portolan Capital Management LLC grew its position in DigitalBridge Group by 77.4% during the 3rd quarter. Portolan Capital Management LLC now owns 5,468,226 shares of the company’s stock worth $63,978,000 after purchasing an additional 2,386,066 shares in the last quarter. Finally, Toronto Dominion Bank purchased a new position in DigitalBridge Group during the 4th quarter worth approximately $36,326,000. Institutional investors and hedge funds own 92.69% of the company’s stock.

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.