Azora Capital LP Makes New Investment in DigitalBridge Group, Inc. (NYSE:DBRG)

Azora Capital LP purchased a new position in DigitalBridge Group, Inc. (NYSE:DBRG) in the 3rd quarter, Holdings Channel reports. The firm purchased 516,874 shares of the company’s stock, valued at approximately $7,303,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in DigitalBridge Group in the 3rd quarter worth about $606,000. PDT Partners LLC bought a new stake in shares of DigitalBridge Group in the third quarter worth approximately $3,447,000. Verition Fund Management LLC grew its stake in shares of DigitalBridge Group by 161.5% in the third quarter. Verition Fund Management LLC now owns 34,914 shares of the company’s stock worth $493,000 after acquiring an additional 21,565 shares during the period. Rockefeller Capital Management L.P. raised its holdings in shares of DigitalBridge Group by 482.6% during the third quarter. Rockefeller Capital Management L.P. now owns 144,772 shares of the company’s stock valued at $2,046,000 after purchasing an additional 119,922 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in DigitalBridge Group by 101.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 314,557 shares of the company’s stock valued at $4,445,000 after purchasing an additional 158,790 shares during the period. 92.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on DBRG. Keefe, Bruyette & Woods downgraded shares of 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 report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft cut their price objective on DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, August 15th. JPMorgan Chase & Co. increased their target price on DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Wells Fargo & Company cut their price target 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. Finally, Raymond James lowered their price objective on shares of DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $18.13.

DigitalBridge Group Stock Up 0.3 %

NYSE DBRG opened at $13.10 on Monday. DigitalBridge Group, Inc. has a 52 week low of $11.07 and a 52 week high of $20.99. The company has a market capitalization of $2.28 billion, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 8.23 and a beta of 1.94. The stock’s 50-day moving average price is $14.17 and its 200-day moving average price is $13.51.

DigitalBridge Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date is Tuesday, December 31st. DigitalBridge Group’s payout ratio is 5.48%.

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.