Central Pacific Bank Trust Division Buys Shares of 2,500 DigitalBridge Group, Inc. (NYSE:DBRG)

Central Pacific Bank Trust Division bought a new stake in shares of DigitalBridge Group, Inc. (NYSE:DBRG) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 2,500 shares of the company’s stock, valued at approximately $35,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Victory Capital Management Inc. raised its position in shares of DigitalBridge Group by 4.1% during the 2nd quarter. Victory Capital Management Inc. now owns 22,165 shares of the company’s stock valued at $304,000 after acquiring an additional 870 shares during the last quarter. Arizona State Retirement System increased its position in shares of DigitalBridge Group by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 45,735 shares of the company’s stock valued at $627,000 after buying an additional 872 shares in the last quarter. King Luther Capital Management Corp increased its position in shares of DigitalBridge Group by 1.3% in the 2nd quarter. King Luther Capital Management Corp now owns 71,038 shares of the company’s stock valued at $973,000 after buying an additional 942 shares in the last quarter. nVerses Capital LLC increased its position in shares of DigitalBridge Group by 633.3% in the 2nd quarter. nVerses Capital LLC now owns 2,200 shares of the company’s stock valued at $30,000 after buying an additional 1,900 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of DigitalBridge Group by 0.7% in the 1st quarter. Swiss National Bank now owns 322,325 shares of the company’s stock valued at $6,211,000 after buying an additional 2,100 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Raymond James lowered 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. JPMorgan Chase & Co. upped their price objective on shares of DigitalBridge Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday. Royal Bank of Canada restated an “outperform” rating and issued a $19.00 price objective on shares of DigitalBridge Group in a research report on Wednesday, July 3rd. Keefe, Bruyette & Woods lowered their price objective 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. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $19.22.

DigitalBridge Group Trading Up 2.9 %

Shares of DigitalBridge Group stock traded up $0.43 during trading hours on Friday, reaching $15.05. 3,577,879 shares of the company’s stock were exchanged, compared to its average volume of 2,289,080. DigitalBridge Group, Inc. has a fifty-two week low of $11.07 and a fifty-two week high of $20.99. The stock has a market cap of $2.62 billion, a P/E ratio of 9.71, a P/E/G ratio of 2.59 and a beta of 1.95. The company has a 50 day moving average of $13.14 and a two-hundred day moving average of $14.45.

DigitalBridge Group (NYSE:DBRG) last issued its earnings results on Wednesday, August 7th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates 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%. As a group, analysts expect that DigitalBridge Group, Inc. will post 0.16 earnings per share for the current fiscal year.

DigitalBridge Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.27%. DigitalBridge Group’s payout ratio is 2.58%.

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.