DigitalBridge Group, Inc. (NYSE:DBRG) Short Interest Update

DigitalBridge Group, Inc. (NYSE:DBRG) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 15,620,000 shares, an increase of 7.1% from the October 15th total of 14,580,000 shares. Based on an average daily trading volume, of 1,740,000 shares, the short-interest ratio is currently 9.0 days. Approximately 9.7% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DBRG. TheStreet raised DigitalBridge Group from a “d” rating to a “c-” rating in a research note on Wednesday, November 1st. JPMorgan Chase & Co. raised DigitalBridge Group from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $19.00 to $25.00 in a research note on Thursday, September 28th. Raymond James dropped their price objective on DigitalBridge Group from $25.00 to $24.00 and set a “strong-buy” rating for the company in a research note on Thursday, November 2nd. Royal Bank of Canada raised their price objective on DigitalBridge Group from $14.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday, August 14th. Finally, Truist Financial dropped their price objective on DigitalBridge Group from $35.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, September 20th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $21.94.

Institutional Investors Weigh In On DigitalBridge Group

Several hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its holdings in DigitalBridge Group by 2.1% in the first quarter. Bank of New York Mellon Corp now owns 2,715,106 shares of the company’s stock valued at $19,549,000 after acquiring an additional 54,549 shares during the last quarter. HighTower Advisors LLC boosted its holdings in DigitalBridge Group by 11.5% in the first quarter. HighTower Advisors LLC now owns 224,121 shares of the company’s stock valued at $1,615,000 after acquiring an additional 23,121 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in DigitalBridge Group by 48.6% in the first quarter. MetLife Investment Management LLC now owns 247,226 shares of the company’s stock valued at $1,780,000 after acquiring an additional 80,880 shares during the last quarter. Panagora Asset Management Inc. acquired a new position in DigitalBridge Group in the first quarter valued at $415,000. Finally, Dimensional Fund Advisors LP acquired a new position in DigitalBridge Group in the first quarter valued at $770,000. Institutional investors and hedge funds own 90.43% of the company’s stock.

DigitalBridge Group Price Performance

Shares of DBRG stock traded up $0.33 during mid-day trading on Friday, hitting $16.70. 1,038,933 shares of the company’s stock were exchanged, compared to its average volume of 1,909,846. DigitalBridge Group has a fifty-two week low of $9.99 and a fifty-two week high of $18.43. The stock has a 50-day simple moving average of $16.44 and a two-hundred day simple moving average of $15.18.

DigitalBridge Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Sunday, December 31st will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.24%. The ex-dividend date is Thursday, December 28th. DigitalBridge Group’s dividend payout ratio (DPR) is -19.05%.

DigitalBridge Group Company Profile

DigitalBridge (NYSE: DBRG) is a leading global digital infrastructure firm. With a heritage of over 25 years investing in and operating businesses across the digital ecosystem including cell towers, data centers, fiber, small cells, and edge infrastructure, the DigitalBridge team manages a $69 billion portfolio of digital infrastructure assets on behalf of its limited partners and shareholders.