Los Angeles Capital Management LLC Buys 38,213 Shares of DigitalBridge Group, Inc. (NYSE:DBRG)

Los Angeles Capital Management LLC grew its holdings in shares of DigitalBridge Group, Inc. (NYSE:DBRG) by 56.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,408 shares of the company’s stock after buying an additional 38,213 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.07% of DigitalBridge Group worth $2,050,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. New York State Common Retirement Fund lifted its position in DigitalBridge Group by 0.3% during the 4th quarter. New York State Common Retirement Fund now owns 151,149 shares of the company’s stock worth $2,651,000 after buying an additional 514 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of DigitalBridge Group by 7.2% during the 4th quarter. Teacher Retirement System of Texas now owns 13,399 shares of the company’s stock worth $235,000 after purchasing an additional 905 shares during the last quarter. Fulton Bank N.A. increased its stake in shares of DigitalBridge Group by 16.8% during the 4th quarter. Fulton Bank N.A. now owns 14,459 shares of the company’s stock worth $254,000 after purchasing an additional 2,083 shares during the last quarter. Harvest Investment Services LLC increased its stake in shares of DigitalBridge Group by 8.3% during the 4th quarter. Harvest Investment Services LLC now owns 27,084 shares of the company’s stock worth $475,000 after purchasing an additional 2,084 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of DigitalBridge Group during the 4th quarter worth about $41,000. 92.69% of the stock is owned by institutional investors.

DigitalBridge Group Stock Performance

Shares of DBRG opened at $12.73 on Friday. DigitalBridge Group, Inc. has a 52 week low of $12.12 and a 52 week high of $20.99. The firm has a market cap of $2.21 billion, a P/E ratio of 8.21 and a beta of 1.96. The firm’s 50-day simple moving average is $14.43 and its 200 day simple moving average is $17.04.

DigitalBridge Group (NYSE:DBRG) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). The company had revenue of $74.39 million during the quarter, compared to analyst estimates of $100.76 million. DigitalBridge Group had a net margin of 26.64% and a return on equity of 3.14%. As a group, equities analysts forecast that DigitalBridge Group, Inc. will post 0.25 earnings per share for the current year.

DigitalBridge Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Sunday, June 30th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend is Friday, June 28th. DigitalBridge Group’s dividend payout ratio is currently 2.58%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $17.00 price objective (down from $21.00) on shares of DigitalBridge Group in a research note on Tuesday, June 18th. Keefe, Bruyette & Woods lowered their price objective on shares of DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating on the stock in a research note on Tuesday, June 18th. JPMorgan Chase & Co. lowered their price objective on shares of DigitalBridge Group from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Finally, Truist Financial lowered their price objective on shares of DigitalBridge Group from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $20.96.

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.