Westwood Holdings Group Inc. Acquires 345,255 Shares of DigitalBridge Group, Inc. (NYSE:DBRG)

Westwood Holdings Group Inc. grew its holdings in DigitalBridge Group, Inc. (NYSE:DBRG) by 32.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,405,038 shares of the company’s stock after acquiring an additional 345,255 shares during the period. Westwood Holdings Group Inc. owned 0.81% of DigitalBridge Group worth $19,249,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in DBRG. Massachusetts Financial Services Co. MA acquired a new stake in shares of DigitalBridge Group in the second quarter worth $39,033,000. Norges Bank bought a new stake in DigitalBridge Group in the 4th quarter valued at $31,651,000. New South Capital Management Inc. boosted its holdings in DigitalBridge Group by 40.1% in the 2nd quarter. New South Capital Management Inc. now owns 3,929,762 shares of the company’s stock valued at $53,838,000 after purchasing an additional 1,125,549 shares during the period. Wafra Inc. boosted its holdings in DigitalBridge Group by 7.1% in the 2nd quarter. Wafra Inc. now owns 15,455,808 shares of the company’s stock valued at $211,745,000 after purchasing an additional 1,020,409 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in DigitalBridge Group by 54.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,686,145 shares of the company’s stock valued at $36,797,000 after purchasing an additional 952,408 shares during the period. 92.69% of the stock is owned by institutional investors.

DigitalBridge Group Stock Up 2.3 %

Shares of DBRG stock opened at $14.51 on Friday. The company has a market capitalization of $2.52 billion, a P/E ratio of 9.36, a P/E/G ratio of 1.78 and a beta of 1.96. DigitalBridge Group, Inc. has a 12-month low of $11.07 and a 12-month high of $20.99. The firm has a 50-day moving average price of $13.10 and a 200 day moving average price of $14.70.

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

DigitalBridge Group Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend is Monday, September 30th. DigitalBridge Group’s payout ratio is presently 2.58%.

Analyst Ratings Changes

DBRG has been the subject of a number of analyst reports. B. Riley reduced their price objective on shares of DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Wells Fargo & Company reduced their price objective on shares of DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Truist Financial reduced their price objective on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $19.00 price objective on shares of DigitalBridge Group in a report on Wednesday, July 3rd. Finally, Raymond James reduced 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 report on Thursday, August 8th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target 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.