DigitalBridge Group, Inc. (NYSE:DBRG) Sees Significant Growth in Short Interest

DigitalBridge Group, Inc. (NYSE:DBRG) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totaling 18,544,212 shares, a growth of 30.1% from the March 15th total of 14,249,419 shares. Based on an average daily volume of 2,967,555 shares, the days-to-cover ratio is currently 6.2 days. Approximately 10.5% of the company’s stock are short sold.

Analyst Ratings Changes

DBRG has been the topic of several analyst reports. Truist Financial initiated coverage on shares of DigitalBridge Group in a report on Tuesday, March 31st. They issued a “buy” rating and a $16.00 price target on the stock. Royal Bank Of Canada lowered shares of DigitalBridge Group from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $23.00 to $16.00 in a report on Tuesday, December 30th. B. Riley Financial lowered shares of DigitalBridge Group from a “buy” rating to a “hold” rating and cut their price target for the stock from $20.00 to $16.00 in a report on Tuesday, December 30th. Weiss Ratings raised shares of DigitalBridge Group from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, March 2nd. Finally, TD Cowen lowered shares of DigitalBridge Group from a “buy” rating to a “hold” rating and set a $16.00 price target on the stock. in a report on Tuesday, December 30th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.00.

DigitalBridge Group Stock Up 0.0%

Shares of DBRG traded up $0.01 during trading hours on Friday, reaching $15.59. 4,557,066 shares of the company traded hands, compared to its average volume of 2,776,405. The stock has a market capitalization of $2.85 billion, a P/E ratio of 34.63 and a beta of 1.61. DigitalBridge Group has a 12-month low of $7.74 and a 12-month high of $15.60. The business has a fifty day moving average price of $15.43 and a 200-day moving average price of $13.82.

DigitalBridge Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. DigitalBridge Group’s payout ratio is 8.89%.

Institutional Investors Weigh In On DigitalBridge Group

A number of large investors have recently made changes to their positions in the stock. CWM LLC grew its holdings in shares of DigitalBridge Group by 2.5% during the third quarter. CWM LLC now owns 31,239 shares of the company’s stock valued at $365,000 after buying an additional 755 shares during the last quarter. Stoneridge Investment Partners LLC boosted its holdings in DigitalBridge Group by 7.9% in the third quarter. Stoneridge Investment Partners LLC now owns 14,153 shares of the company’s stock valued at $166,000 after purchasing an additional 1,037 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in DigitalBridge Group by 3.0% in the fourth quarter. Handelsbanken Fonder AB now owns 37,500 shares of the company’s stock valued at $575,000 after purchasing an additional 1,100 shares during the last quarter. Cetera Investment Advisers boosted its holdings in DigitalBridge Group by 4.4% in the fourth quarter. Cetera Investment Advisers now owns 28,921 shares of the company’s stock valued at $444,000 after purchasing an additional 1,214 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in DigitalBridge Group by 2.4% in the third quarter. Arizona State Retirement System now owns 52,115 shares of the company’s stock valued at $610,000 after purchasing an additional 1,244 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

About DigitalBridge Group

DigitalBridge Group, Inc (NYSE: DBRG) is a specialized global investment firm focused exclusively on digital infrastructure. The company originates, acquires, and manages a diversified portfolio of businesses that support the digital economy, including data centers, cell towers, small cells, fiber networks, edge infrastructure and related services. DigitalBridge seeks to generate sustainable, long-term returns for its investors by deploying capital into high-growth sectors driven by increasing data consumption, 5G deployment and cloud adoption.

Through its dedicated investment platforms, DigitalBridge provides equity and debt financing solutions to operators and owners of digital infrastructure assets.