Nordea Investment Management AB trimmed its position in DigitalBridge Group, Inc. (NYSE:DBRG – Get Rating) by 3.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 224,944 shares of the company’s stock after selling 8,787 shares during the period. Nordea Investment Management AB owned approximately 0.14% of DigitalBridge Group worth $2,485,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in DBRG. Wipfli Financial Advisors LLC bought a new stake in shares of DigitalBridge Group in the 3rd quarter worth approximately $33,000. Nomura Holdings Inc. bought a new position in shares of DigitalBridge Group in the second quarter valued at $52,000. BDO Wealth Advisors LLC increased its holdings in shares of DigitalBridge Group by 26.3% in the fourth quarter. BDO Wealth Advisors LLC now owns 4,800 shares of the company’s stock valued at $53,000 after buying an additional 1,000 shares in the last quarter. Advisors Asset Management Inc. acquired a new stake in shares of DigitalBridge Group during the 1st quarter valued at $57,000. Finally, Exchange Traded Concepts LLC boosted its stake in shares of DigitalBridge Group by 71.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 5,712 shares of the company’s stock worth $62,000 after acquiring an additional 2,380 shares in the last quarter. 88.52% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft started coverage on DigitalBridge Group in a report on Wednesday, February 15th. They set a “buy” rating and a $18.00 target price for the company. B. Riley decreased their target price on shares of DigitalBridge Group from $32.00 to $29.00 and set a “buy” rating for the company in a report on Friday, March 24th. JPMorgan Chase & Co. reduced their price target on shares of DigitalBridge Group from $20.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, February 27th. Cowen reduced their target price on DigitalBridge Group from $27.00 to $20.00 in a report on Monday, February 27th. Finally, Wells Fargo & Company lowered their price target on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday, February 27th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $22.00.
DigitalBridge Group Price Performance
DigitalBridge Group (NYSE:DBRG – Get Rating) last issued its earnings results on Wednesday, May 3rd. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.10). The firm had revenue of $250.16 million during the quarter, compared to analyst estimates of $297.44 million. DigitalBridge Group had a positive return on equity of 0.89% and a negative net margin of 24.01%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.46) earnings per share. As a group, sell-side analysts predict that DigitalBridge Group, Inc. will post 0.19 earnings per share for the current fiscal year.
DigitalBridge Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date is Thursday, June 29th. DigitalBridge Group’s dividend payout ratio (DPR) is presently -1.91%.
DigitalBridge Group Company Profile
DigitalBridge Group, Inc is a digital infrastructure company that engages in investing in digital ecosystem including cell towers, data centers, fiber, small cells, and edge infrastructure. It operates through the Digital Investment Management (Digital IM) and Corporate and Other segments. The Digital IM segment represents a digital infrastructure investment platform, managing capital on behalf of a diverse base of global investors.
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