DigitalBridge Group, Inc. (NYSE:DBRG) Short Interest Update

DigitalBridge Group, Inc. (NYSE:DBRG) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 15,050,000 shares, an increase of 12.1% from the August 15th total of 13,430,000 shares. Based on an average daily volume of 1,870,000 shares, the short-interest ratio is presently 8.0 days. Currently, 8.8% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Sanctuary Advisors LLC acquired a new stake in DigitalBridge Group during the 2nd quarter worth approximately $2,724,000. Cetera Investment Advisers raised its stake in shares of DigitalBridge Group by 3.5% during the second quarter. Cetera Investment Advisers now owns 81,447 shares of the company’s stock worth $1,116,000 after purchasing an additional 2,747 shares during the last quarter. Truist Financial Corp acquired a new stake in shares of DigitalBridge Group during the second quarter worth $476,000. Senator Investment Group LP grew its position in DigitalBridge Group by 9.1% in the 2nd quarter. Senator Investment Group LP now owns 1,912,003 shares of the company’s stock valued at $26,194,000 after buying an additional 160,000 shares during the last quarter. Finally, Algert Global LLC acquired a new position in DigitalBridge Group in the 2nd quarter valued at $225,000. 92.69% of the stock is owned by hedge funds and other institutional investors.

DigitalBridge Group Stock Performance

Shares of DBRG stock traded up $0.36 during mid-day trading on Monday, hitting $14.47. 3,109,053 shares of the stock were exchanged, compared to its average volume of 2,186,454. DigitalBridge Group has a 12-month low of $11.07 and a 12-month high of $20.99. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 9.10, a P/E/G ratio of 1.78 and a beta of 1.96. The stock’s fifty day simple moving average is $13.03 and its two-hundred day simple moving average is $14.80.

DigitalBridge Group (NYSE:DBRG) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). The firm had revenue of $390.34 million for the quarter, compared to analyst estimates of $97.05 million. DigitalBridge Group had a return on equity of 4.49% and a net margin of 35.10%. On average, research analysts expect that DigitalBridge Group will post 0.2 earnings per share for the current fiscal year.

DigitalBridge Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.01 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.28%. DigitalBridge Group’s dividend payout ratio (DPR) is 2.58%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on DBRG shares. Keefe, Bruyette & Woods lowered their price objective on DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating for the company in a research report on Tuesday, June 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $19.00 price objective on shares of DigitalBridge Group in a research report on Wednesday, July 3rd. Raymond James decreased their price objective on shares of DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating for the company in a research report on Thursday, August 8th. B. Riley lowered their target price on shares of DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Finally, Wells Fargo & Company cut their price target on DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $19.22.

DigitalBridge Group Company 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.