State of New Jersey Common Pension Fund D Decreases Stake in DigitalBridge Group, Inc. (NYSE:DBRG)

State of New Jersey Common Pension Fund D cut its holdings in DigitalBridge Group, Inc. (NYSE:DBRG) by 47.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 323,691 shares of the company’s stock after selling 294,650 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.19% of DigitalBridge Group worth $4,435,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. nVerses Capital LLC boosted its stake in shares of DigitalBridge Group by 633.3% in the second 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. Quarry LP purchased a new stake in shares of DigitalBridge Group in the fourth quarter valued at approximately $41,000. Headlands Technologies LLC boosted its stake in shares of DigitalBridge Group by 33,627.3% in the second quarter. Headlands Technologies LLC now owns 7,420 shares of the company’s stock valued at $102,000 after buying an additional 7,398 shares in the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in shares of DigitalBridge Group in the first quarter valued at approximately $216,000. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of DigitalBridge Group in the fourth quarter valued at approximately $220,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on DBRG. Truist Financial decreased their target price on DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Keefe, Bruyette & Woods decreased their target price on DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating on the stock in a research report on Tuesday, June 18th. Raymond James decreased their target price on DigitalBridge Group from $22.00 to $19.00 and set a “strong-buy” rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $19.00 target price on shares of DigitalBridge Group in a research report on Wednesday, July 3rd. Finally, B. Riley decreased their target price on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, DigitalBridge Group currently has an average rating of “Buy” and a consensus target price of $19.22.

DigitalBridge Group Stock Up 2.6 %

Shares of NYSE:DBRG opened at $14.47 on Tuesday. DigitalBridge Group, Inc. has a 52-week low of $11.07 and a 52-week high of $20.99. The stock’s fifty day simple moving average is $13.06 and its 200-day simple moving average is $14.77. The company has a market capitalization of $2.51 billion, a P/E ratio of 9.34, a P/E/G ratio of 1.78 and a beta of 1.96.

DigitalBridge Group (NYSE:DBRG) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). DigitalBridge Group had a net margin of 35.10% and a return on equity of 4.49%. The company had revenue of $390.34 million during the quarter, compared to analysts’ expectations of $97.05 million. On average, sell-side analysts anticipate that DigitalBridge Group, Inc. will post 0.2 earnings per share for the current year.

DigitalBridge Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.28%. DigitalBridge Group’s payout ratio is currently 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.