DigitalBridge Group, Inc. (NYSE:DBRG) Short Interest Down 10.1% in March

DigitalBridge Group, Inc. (NYSE:DBRG) was the recipient of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 20,240,000 shares, a decrease of 10.1% from the March 15th total of 22,510,000 shares. Approximately 12.5% of the company’s stock are short sold. Based on an average daily trading volume, of 2,100,000 shares, the days-to-cover ratio is presently 9.6 days.

Analyst Upgrades and Downgrades

Separately, Truist Financial upped their target price on shares of DigitalBridge Group from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday. Four investment 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, the stock has a consensus rating of “Buy” and a consensus target price of $22.08.

Institutional Trading of DigitalBridge Group

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of DigitalBridge Group by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 74,983,124 shares of the company’s stock worth $539,879,000 after purchasing an additional 1,666,885 shares during the period. State Street Corp raised its stake in DigitalBridge Group by 18.6% during the 1st quarter. State Street Corp now owns 20,337,683 shares of the company’s stock worth $146,431,000 after acquiring an additional 3,184,920 shares during the period. Price T Rowe Associates Inc. MD raised its stake in DigitalBridge Group by 28.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 18,874,133 shares of the company’s stock worth $92,106,000 after acquiring an additional 4,176,103 shares during the period. BlackRock Inc. raised its stake in DigitalBridge Group by 5.9% during the 2nd quarter. BlackRock Inc. now owns 11,325,685 shares of the company’s stock worth $166,601,000 after acquiring an additional 634,029 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in DigitalBridge Group by 3.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,838,900 shares of the company’s stock worth $49,241,000 after acquiring an additional 222,585 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

DigitalBridge Group Price Performance

DBRG stock traded down $0.48 during trading on Wednesday, hitting $17.70. 1,458,922 shares of the stock traded hands, compared to its average volume of 1,875,991. DigitalBridge Group has a 1 year low of $10.20 and a 1 year high of $20.99. The firm’s 50 day moving average is $18.78 and its two-hundred day moving average is $17.71. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 36.11 and a beta of 1.91.

DigitalBridge Group (NYSE:DBRG) last announced its quarterly earnings data on Tuesday, February 20th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.06. DigitalBridge Group had a net margin of 12.33% and a return on equity of 2.39%. The company had revenue of $350.31 million for the quarter, compared to the consensus estimate of $287.41 million. As a group, analysts anticipate that DigitalBridge Group will post -0.14 EPS for the current fiscal year.

DigitalBridge Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Sunday, March 31st were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend was Wednesday, March 27th. DigitalBridge Group’s dividend payout ratio (DPR) is 8.16%.

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.