Ellis Investment Partners LLC Raises Holdings in DigitalBridge Group, Inc. (NYSE:DBRG)

Ellis Investment Partners LLC lifted its holdings in shares of DigitalBridge Group, Inc. (NYSE:DBRG) by 9.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,015 shares of the company’s stock after buying an additional 4,589 shares during the period. Ellis Investment Partners LLC’s holdings in DigitalBridge Group were worth $575,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of DBRG. Potrero Capital Research LLC purchased a new position in DigitalBridge Group in the 3rd quarter valued at approximately $20,201,000. Massachusetts Financial Services Co. MA increased its stake in DigitalBridge Group by 27.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,640,632 shares of the company’s stock valued at $51,442,000 after purchasing an additional 791,506 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in DigitalBridge Group in the 3rd quarter valued at approximately $9,757,000. Clearline Capital LP purchased a new position in DigitalBridge Group in the 3rd quarter valued at approximately $7,468,000. Finally, Azora Capital LP purchased a new position in DigitalBridge Group in the 3rd quarter valued at approximately $7,303,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

DigitalBridge Group Stock Down 0.5 %

DBRG stock opened at $10.18 on Monday. DigitalBridge Group, Inc. has a 52-week low of $10.15 and a 52-week high of $20.79. The stock’s fifty day simple moving average is $11.13 and its 200-day simple moving average is $12.68. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 2.95 and a beta of 1.91.

Wall Street Analysts Forecast Growth

DBRG has been the subject of several research analyst reports. Wells Fargo & Company dropped their price objective on DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. JMP Securities initiated coverage on DigitalBridge Group in a research note on Monday, January 27th. They issued an “outperform” rating and a $16.00 price objective for the company. B. Riley dropped their price objective on DigitalBridge Group from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods downgraded DigitalBridge Group from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $17.75 to $14.00 in a research report on Wednesday, November 6th. Finally, Truist Financial dropped their price target on DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, DigitalBridge Group currently has an average rating of “Buy” and an average price target of $16.67.

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.