Peregrine Capital Management LLC Raises Stock Holdings in DigitalBridge Group, Inc. (NYSE:DBRG)

Peregrine Capital Management LLC increased its position in DigitalBridge Group, Inc. (NYSE:DBRG) by 22.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 493,074 shares of the company’s stock after purchasing an additional 90,875 shares during the period. Peregrine Capital Management LLC owned 0.28% of DigitalBridge Group worth $6,755,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in DigitalBridge Group in the fourth quarter worth $41,000. CWM LLC boosted its holdings in DigitalBridge Group by 59.9% in the fourth quarter. CWM LLC now owns 8,371 shares of the company’s stock worth $147,000 after acquiring an additional 3,135 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new stake in DigitalBridge Group in the first quarter worth $216,000. Capstone Investment Advisors LLC bought a new stake in DigitalBridge Group in the fourth quarter worth $220,000. Finally, Teacher Retirement System of Texas boosted its holdings in DigitalBridge Group by 7.2% in the fourth quarter. Teacher Retirement System of Texas now owns 13,399 shares of the company’s stock worth $235,000 after acquiring an additional 905 shares in the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.

DigitalBridge Group Stock Up 0.1 %

DBRG traded up $0.01 during midday trading on Friday, reaching $12.48. The company had a trading volume of 2,207,740 shares, compared to its average volume of 2,116,362. The business has a 50-day moving average of $13.20 and a two-hundred day moving average of $15.36. The company has a market cap of $2.17 billion, a P/E ratio of 8.05, a P/E/G ratio of 1.38 and a beta of 2.00. DigitalBridge Group, Inc. has a 1 year low of $11.96 and a 1 year high of $20.99.

DigitalBridge Group (NYSE:DBRG) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The company had revenue of $390.34 million during the quarter, compared to analysts’ expectations of $97.05 million. DigitalBridge Group had a return on equity of 3.14% and a net margin of 26.64%. On average, equities research analysts predict that DigitalBridge Group, Inc. will post 0.28 EPS for the current year.

DigitalBridge Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Monday, September 30th. DigitalBridge Group’s payout ratio is 2.58%.

Analyst Ratings Changes

Several research firms have commented on DBRG. Royal Bank of Canada reissued an “outperform” rating and issued a $19.00 target price on shares of DigitalBridge Group in a report on Wednesday, July 3rd. Truist Financial lowered their price target on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Keefe, Bruyette & Woods lowered their price target on DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating on the stock in a report on Tuesday, June 18th. B. Riley lowered their price target on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. 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 Tuesday, August 6th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $19.22.

About DigitalBridge Group

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.