Pacer Advisors Inc. Lowers Stock Position in DigitalBridge Group, Inc. (NYSE:DBRG)

Pacer Advisors Inc. lessened its holdings in shares of DigitalBridge Group, Inc. (NYSE:DBRG) by 13.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,098,882 shares of the company’s stock after selling 174,284 shares during the period. Pacer Advisors Inc.’s holdings in DigitalBridge Group were worth $15,527,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in DigitalBridge Group by 1.1% during the first quarter. Vanguard Group Inc. now owns 23,274,328 shares of the company’s stock worth $448,496,000 after acquiring an additional 256,016 shares in the last quarter. Wafra Inc. boosted its position in shares of DigitalBridge Group by 7.1% in the 2nd quarter. Wafra Inc. now owns 15,455,808 shares of the company’s stock worth $211,745,000 after purchasing an additional 1,020,409 shares in the last quarter. New South Capital Management Inc. boosted its position in shares of DigitalBridge Group by 0.3% in the 3rd quarter. New South Capital Management Inc. now owns 3,940,203 shares of the company’s stock worth $55,675,000 after purchasing an additional 10,441 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of 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 worth $51,442,000 after buying an additional 791,506 shares during the last quarter. Finally, Legion Partners Asset Management LLC increased its position in DigitalBridge Group by 3.3% during the 2nd quarter. Legion Partners Asset Management LLC now owns 3,453,253 shares of the company’s stock valued at $47,310,000 after buying an additional 111,243 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

DigitalBridge Group Stock Up 3.0 %

Shares of DBRG stock opened at $12.33 on Friday. The company has a 50 day moving average price of $14.30 and a 200-day moving average price of $13.58. DigitalBridge Group, Inc. has a 52 week low of $11.07 and a 52 week high of $20.99. The firm has a market capitalization of $2.15 billion, a PE ratio of 16.89, a P/E/G ratio of 2.11 and a beta of 1.94.

DigitalBridge Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 yield of 0.32%. The ex-dividend date of this dividend is Tuesday, December 31st. DigitalBridge Group’s dividend payout ratio (DPR) is presently 5.48%.

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.