Ovata Capital Management Ltd Purchases New Position in DigitalBridge Group, Inc. $DBRG

Ovata Capital Management Ltd acquired a new position in shares of DigitalBridge Group, Inc. (NYSE:DBRG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 101,560 shares of the company’s stock, valued at approximately $1,558,000. Ovata Capital Management Ltd owned approximately 0.06% of DigitalBridge Group at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Aberdeen Group plc bought a new position in shares of DigitalBridge Group in the 3rd quarter valued at $3,220,000. CIBRA Capital Ltd bought a new stake in DigitalBridge Group during the 4th quarter worth $2,006,000. Jefferies Financial Group Inc. acquired a new position in DigitalBridge Group in the 3rd quarter worth about $1,018,000. Azora Capital LP increased its holdings in DigitalBridge Group by 62.6% in the 3rd quarter. Azora Capital LP now owns 3,703,734 shares of the company’s stock worth $43,334,000 after purchasing an additional 1,425,583 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in DigitalBridge Group by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 17,351,817 shares of the company’s stock valued at $266,177,000 after purchasing an additional 116,360 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on DBRG shares. Truist Financial began coverage on DigitalBridge Group in a research note on Tuesday, March 31st. They set a “buy” rating and a $16.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DigitalBridge Group in a research note on Friday, May 29th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $16.00.

DigitalBridge Group Trading Down 0.1%

Shares of DBRG opened at $15.76 on Friday. The company has a market capitalization of $2.87 billion, a PE ratio of 32.15 and a beta of 1.48. DigitalBridge Group, Inc. has a 12 month low of $8.94 and a 12 month high of $15.77. The stock’s 50-day moving average price is $15.65 and its two-hundred day moving average price is $15.16.

DigitalBridge Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Tuesday, June 30th. DigitalBridge Group’s dividend payout ratio (DPR) is 8.16%.

DigitalBridge Group Company 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.