Independent Advisor Alliance Sells 1,022 Shares of DigitalBridge Group, Inc. (NYSE:DBRG)

Independent Advisor Alliance decreased its position in DigitalBridge Group, Inc. (NYSE:DBRG) by 6.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,054 shares of the company’s stock after selling 1,022 shares during the quarter. Independent Advisor Alliance’s holdings in DigitalBridge Group were worth $282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of DBRG. Harvest Fund Management Co. Ltd bought a new stake in DigitalBridge Group in the third quarter valued at approximately $71,000. CWM LLC lifted its position in DigitalBridge Group by 59.9% in the fourth quarter. CWM LLC now owns 8,371 shares of the company’s stock valued at $147,000 after purchasing an additional 3,135 shares during the last quarter. Bfsg LLC bought a new stake in DigitalBridge Group in the fourth quarter valued at approximately $171,000. New York State Teachers Retirement System bought a new stake in DigitalBridge Group in the fourth quarter valued at approximately $175,000. Finally, Pathstone Family Office LLC bought a new stake in DigitalBridge Group in the third quarter valued at approximately $223,000. Institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on DBRG. JPMorgan Chase & Co. decreased their target price on DigitalBridge Group from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Truist Financial decreased their target price on DigitalBridge Group from $22.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $21.25.

DigitalBridge Group Stock Down 0.7 %

Shares of DigitalBridge Group stock opened at $13.11 on Thursday. The company has a market cap of $2.28 billion, a PE ratio of 8.45 and a beta of 1.95. The business has a 50 day moving average of $16.95 and a 200 day moving average of $17.57. DigitalBridge Group, Inc. has a 52 week low of $10.98 and a 52 week high of $20.99.

DigitalBridge Group (NYSE:DBRG) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.03). The firm had revenue of $74.39 million during the quarter, compared to analysts’ expectations of $100.76 million. DigitalBridge Group had a return on equity of 3.14% and a net margin of 26.64%. On average, research analysts anticipate that DigitalBridge Group, Inc. will post 0.25 earnings per share for the current year.

DigitalBridge Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Sunday, June 30th will be paid a $0.01 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.04 annualized dividend and a yield of 0.31%. DigitalBridge Group’s payout ratio is 2.58%.

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.