Garnet Equity Capital Holdings Inc. Sells 60,000 Shares of DigitalBridge Group, Inc. (NYSE:DBRG)

Garnet Equity Capital Holdings Inc. reduced its stake in DigitalBridge Group, Inc. (NYSE:DBRG) by 10.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 527,552 shares of the company’s stock after selling 60,000 shares during the quarter. DigitalBridge Group comprises about 2.9% of Garnet Equity Capital Holdings Inc.’s portfolio, making the stock its 6th largest holding. Garnet Equity Capital Holdings Inc. owned about 0.32% of DigitalBridge Group worth $9,253,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd acquired a new position in shares of DigitalBridge Group in the third quarter valued at about $71,000. CWM LLC increased its holdings in DigitalBridge Group by 59.9% in the 4th quarter. CWM LLC now owns 8,371 shares of the company’s stock worth $147,000 after buying an additional 3,135 shares during the period. Bfsg LLC purchased a new position in DigitalBridge Group during the 4th quarter worth approximately $171,000. New York State Teachers Retirement System acquired a new stake in DigitalBridge Group during the 4th quarter valued at approximately $175,000. Finally, Pathstone Family Office LLC purchased a new stake in shares of DigitalBridge Group in the 3rd quarter valued at $223,000. 92.69% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on DBRG. JPMorgan Chase & Co. lowered their price objective on DigitalBridge Group from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Wednesday. Truist Financial raised their price target on shares of DigitalBridge Group from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $21.75.

DigitalBridge Group Price Performance

DBRG traded up $0.43 during trading hours on Thursday, reaching $14.54. The company’s stock had a trading volume of 3,584,395 shares, compared to its average volume of 2,265,717. The stock has a market cap of $2.38 billion, a PE ratio of 9.22 and a beta of 1.95. DigitalBridge Group, Inc. has a fifty-two week low of $10.20 and a fifty-two week high of $20.99. The business’s 50-day moving average is $18.16 and its 200-day moving average is $17.73.

DigitalBridge Group (NYSE:DBRG) last issued its quarterly earnings data on Tuesday, February 20th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.06. The firm had revenue of $350.31 million for the quarter, compared to analyst estimates of $287.41 million. DigitalBridge Group had a net margin of 26.64% and a return on equity of 2.91%. Analysts expect that DigitalBridge Group, Inc. will post 0.25 EPS for the current year.

DigitalBridge Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Sunday, June 30th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend is Friday, June 28th. DigitalBridge Group’s dividend payout ratio is currently 2.58%.

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.