DigitalBridge Group Sees Unusually Large Options Volume (NYSE:DBRG)

DigitalBridge Group, Inc. (NYSE:DBRG) saw some unusual options trading activity on Friday. Investors purchased 10,033 call options on the stock. This is an increase of approximately 394% compared to the typical volume of 2,030 call options.

DigitalBridge Group Stock Performance

NYSE DBRG opened at $13.69 on Friday. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 8.83, a PEG ratio of 1.47 and a beta of 1.96. The firm has a 50 day simple moving average of $14.00 and a 200-day simple moving average of $16.93. DigitalBridge Group has a one year low of $12.12 and a one year high of $20.99.

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

DigitalBridge Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Sunday, June 30th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date is Friday, June 28th. DigitalBridge Group’s dividend payout ratio (DPR) is 2.58%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On DigitalBridge Group

Several institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its holdings in shares of DigitalBridge Group by 2.2% in the third quarter. Rhumbline Advisers now owns 275,998 shares of the company’s stock valued at $4,852,000 after acquiring an additional 5,995 shares during the period. Invesco Ltd. grew its position in DigitalBridge Group by 12.6% during the 3rd quarter. Invesco Ltd. now owns 2,066,017 shares of the company’s stock worth $36,321,000 after purchasing an additional 231,265 shares during the last quarter. Northern Trust Corp increased its stake in DigitalBridge Group by 0.3% in the third quarter. Northern Trust Corp now owns 1,472,816 shares of the company’s stock valued at $25,892,000 after purchasing an additional 4,178 shares during the period. Corton Capital Inc. raised its holdings in shares of DigitalBridge Group by 16.4% in the third quarter. Corton Capital Inc. now owns 25,132 shares of the company’s stock valued at $442,000 after buying an additional 3,549 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC boosted its stake in shares of DigitalBridge Group by 490.7% during the third quarter. Schonfeld Strategic Advisors LLC now owns 640,876 shares of the company’s stock worth $11,267,000 after buying an additional 532,376 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

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.