Schwartz Investment Counsel Inc. Cuts Stock Position in DigitalBridge Group, Inc. $DBRG

Schwartz Investment Counsel Inc. cut its position in DigitalBridge Group, Inc. (NYSE:DBRG) by 29.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 543,627 shares of the company’s stock after selling 224,814 shares during the quarter. Schwartz Investment Counsel Inc. owned about 0.31% of DigitalBridge Group worth $5,627,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its stake in shares of DigitalBridge Group by 16.4% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,029,913 shares of the company’s stock valued at $35,544,000 after buying an additional 567,170 shares during the period. Brown Advisory Inc. raised its stake in shares of DigitalBridge Group by 0.9% in the first quarter. Brown Advisory Inc. now owns 3,692,895 shares of the company’s stock valued at $32,571,000 after buying an additional 33,960 shares during the period. Invesco Ltd. raised its stake in shares of DigitalBridge Group by 7.2% in the first quarter. Invesco Ltd. now owns 3,551,228 shares of the company’s stock valued at $31,322,000 after buying an additional 237,503 shares during the period. Private Management Group Inc. raised its stake in shares of DigitalBridge Group by 65.9% in the first quarter. Private Management Group Inc. now owns 2,461,756 shares of the company’s stock valued at $21,713,000 after buying an additional 978,162 shares during the period. Finally, Clearline Capital LP raised its stake in shares of DigitalBridge Group by 189.8% in the first quarter. Clearline Capital LP now owns 2,286,782 shares of the company’s stock valued at $20,169,000 after buying an additional 1,497,664 shares during the period. 92.69% of the stock is currently owned by institutional investors.

DigitalBridge Group Stock Up 2.2%

DigitalBridge Group stock opened at $12.59 on Tuesday. DigitalBridge Group, Inc. has a 52 week low of $6.41 and a 52 week high of $17.33. The business has a 50-day simple moving average of $11.73 and a 200 day simple moving average of $10.55. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of -314.63 and a beta of 1.66.

DigitalBridge Group (NYSE:DBRG) last posted its earnings results on Thursday, March 21st. The company reported ($0.07) EPS for the quarter. DigitalBridge Group had a return on equity of 4.14% and a net margin of 18.57%.The business had revenue of $232.83 million for the quarter. On average, research analysts anticipate that DigitalBridge Group, Inc. will post 0.17 earnings per share for the current year.

DigitalBridge Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.3%. The ex-dividend date was Tuesday, September 30th. DigitalBridge Group’s payout ratio is presently -100.00%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on DBRG shares. Truist Financial boosted their target price on DigitalBridge Group from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Weiss Ratings reiterated a “sell (d+)” rating on shares of DigitalBridge Group in a research note on Wednesday, October 8th. Zacks Research lowered DigitalBridge Group from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Keefe, Bruyette & Woods boosted their price objective on DigitalBridge Group from $10.50 to $11.00 and gave the company a “market perform” rating in a research note on Tuesday, August 12th. Finally, Wall Street Zen upgraded DigitalBridge Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, DigitalBridge Group presently has an average rating of “Moderate Buy” and a consensus target price of $16.14.

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.