DigitalBridge Group, Inc. (NYSE:DBRG) Short Interest Down 7.0% in November

DigitalBridge Group, Inc. (NYSE:DBRG) was the target of a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 14,280,000 shares, a decline of 7.0% from the November 15th total of 15,360,000 shares. Based on an average daily volume of 3,000,000 shares, the days-to-cover ratio is currently 4.8 days. Approximately 8.3% of the company’s stock are short sold.

Hedge Funds Weigh In On DigitalBridge Group

A number of institutional investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA purchased a new position in DigitalBridge Group during the second quarter valued at approximately $39,033,000. Potrero Capital Research LLC acquired a new stake in shares of DigitalBridge Group during the 3rd quarter worth approximately $20,201,000. New South Capital Management Inc. increased its holdings in shares of DigitalBridge Group by 40.1% during the 2nd quarter. New South Capital Management Inc. now owns 3,929,762 shares of the company’s stock valued at $53,838,000 after purchasing an additional 1,125,549 shares in the last quarter. Wafra Inc. lifted its stake 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 valued at $211,745,000 after purchasing an additional 1,020,409 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in DigitalBridge Group by 54.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,686,145 shares of the company’s stock worth $36,797,000 after buying an additional 952,408 shares in the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Price Performance

DBRG stock opened at $11.98 on Wednesday. The company has a market capitalization of $2.09 billion, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 13.76 and a beta of 1.89. DigitalBridge Group has a 12 month low of $11.07 and a 12 month high of $20.99. The firm’s fifty day simple moving average is $13.73 and its 200-day simple moving average is $13.44.

DigitalBridge Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.33%. The ex-dividend date is Tuesday, December 31st. DigitalBridge Group’s dividend payout ratio is currently 5.48%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on DBRG shares. JPMorgan Chase & Co. upped their target price on DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Keefe, Bruyette & Woods downgraded shares of DigitalBridge Group from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $17.75 to $14.00 in a report on Wednesday, November 6th. Wells Fargo & Company lowered their target price on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Truist Financial cut their price target on shares of DigitalBridge Group from $17.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, December 11th. Finally, Raymond James decreased their price target on shares of DigitalBridge Group from $19.00 to $16.00 and set a “strong-buy” rating for the company in a report on Tuesday, November 5th. One investment 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $17.88.

About DigitalBridge Group

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.