Potrero Capital Research LLC Takes Position in DigitalBridge Group, Inc. (NYSE:DBRG)

Potrero Capital Research LLC purchased a new stake in shares of DigitalBridge Group, Inc. (NYSE:DBRG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,429,657 shares of the company’s stock, valued at approximately $20,201,000. DigitalBridge Group comprises approximately 6.3% of Potrero Capital Research LLC’s portfolio, making the stock its 3rd biggest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA purchased a new stake in DigitalBridge Group in the 2nd quarter valued at about $39,033,000. New South Capital Management Inc. raised its holdings in DigitalBridge Group by 40.1% in 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 buying an additional 1,125,549 shares during the period. Wafra Inc. raised its holdings in 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 buying an additional 1,020,409 shares during the period. Dimensional Fund Advisors LP raised its holdings in DigitalBridge Group by 54.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,686,145 shares of the company’s stock valued at $36,797,000 after buying an additional 952,408 shares during the period. Finally, Point72 Asset Management L.P. raised its holdings in DigitalBridge Group by 125.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,629,197 shares of the company’s stock valued at $22,320,000 after buying an additional 906,297 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

DigitalBridge Group Stock Performance

DBRG stock opened at $13.13 on Wednesday. The company’s 50 day moving average price is $14.14 and its 200 day moving average price is $13.50. DigitalBridge Group, Inc. has a fifty-two week low of $11.07 and a fifty-two week high of $20.99. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 14.92 and a beta of 1.89.

DigitalBridge Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.01 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.30%. DigitalBridge Group’s payout ratio is 5.48%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on DBRG shares. Raymond James reduced 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 report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price objective on shares of DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft cut their price target on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Truist Financial cut their price target on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Finally, Wells Fargo & Company cut their price target on shares of DigitalBridge Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $18.13.

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.