DigitalBridge Group, Inc. (NYSE:DBRG) Sees Significant Increase in Short Interest

DigitalBridge Group, Inc. (NYSE:DBRG) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 17,020,000 shares, a growth of 13.1% from the August 31st total of 15,050,000 shares. Based on an average daily trading volume, of 2,140,000 shares, the short-interest ratio is currently 8.0 days. Currently, 9.9% of the company’s stock are short sold.

DigitalBridge Group Stock Down 1.7 %

Shares of NYSE:DBRG opened at $14.13 on Tuesday. DigitalBridge Group has a 12-month low of $11.07 and a 12-month high of $20.99. The company has a market cap of $2.46 billion, a P/E ratio of 9.12, a price-to-earnings-growth ratio of 2.59 and a beta of 1.96. The company’s fifty day moving average is $13.12 and its two-hundred day moving average is $14.48.

DigitalBridge Group (NYSE:DBRG) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The firm had revenue of $390.34 million during 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%. Equities research analysts anticipate that DigitalBridge Group will post 0.16 earnings per share for the current year.

DigitalBridge Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders 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 dividend yield of 0.28%. DigitalBridge Group’s dividend payout ratio (DPR) is presently 2.58%.

Hedge Funds Weigh In On DigitalBridge Group

Several large investors have recently added to or reduced their stakes in DBRG. Massachusetts Financial Services Co. MA acquired a new position in DigitalBridge Group during the 2nd quarter worth about $39,033,000. Norges Bank acquired a new position in DigitalBridge Group in the fourth quarter valued at about $31,651,000. New South Capital Management Inc. raised its holdings in DigitalBridge Group by 40.1% during the 2nd quarter. New South Capital Management Inc. now owns 3,929,762 shares of the company’s stock worth $53,838,000 after buying an additional 1,125,549 shares during the period. Wafra Inc. raised its stake in shares of 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 lifted its holdings in shares of DigitalBridge Group by 54.9% in the second 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 in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on DBRG shares. Truist Financial decreased their target price on shares of DigitalBridge Group from $19.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft lowered their price target on shares of DigitalBridge Group from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. B. Riley decreased their price target on shares of DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Wells Fargo & Company dropped their price objective on shares of DigitalBridge Group from $20.00 to $18.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Finally, Keefe, Bruyette & Woods reduced their price objective on DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating on the stock in a research note on Tuesday, June 18th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, DigitalBridge Group has an average rating of “Buy” and a consensus target price of $19.22.

DigitalBridge Group Company Profile

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.