Lazard Asset Management LLC Makes New $9.66 Million Investment in DigitalBridge Group, Inc. (NYSE:DBRG)

Lazard Asset Management LLC purchased a new position in DigitalBridge Group, Inc. (NYSE:DBRG) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 501,376 shares of the company’s stock, valued at approximately $9,661,000. Lazard Asset Management LLC owned approximately 0.29% of DigitalBridge Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB acquired a new stake in DigitalBridge Group in the first quarter worth about $3,214,000. Thornburg Investment Management Inc. lifted its holdings in shares of DigitalBridge Group by 61.8% during the fourth quarter. Thornburg Investment Management Inc. now owns 683,817 shares of the company’s stock worth $11,994,000 after purchasing an additional 261,080 shares during the period. GRS Advisors LLC lifted its holdings in shares of DigitalBridge Group by 23.7% during the fourth quarter. GRS Advisors LLC now owns 1,534,820 shares of the company’s stock worth $26,921,000 after purchasing an additional 293,987 shares during the period. Sei Investments Co. lifted its holdings in shares of DigitalBridge Group by 77.9% during the first quarter. Sei Investments Co. now owns 302,856 shares of the company’s stock worth $5,836,000 after purchasing an additional 132,638 shares during the period. Finally, Raymond James & Associates lifted its holdings in shares of DigitalBridge Group by 311.5% during the fourth quarter. Raymond James & Associates now owns 469,647 shares of the company’s stock worth $8,238,000 after purchasing an additional 355,524 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

Analysts Set New Price Targets

DBRG has been the subject of several recent research reports. Keefe, Bruyette & Woods reduced their price target on DigitalBridge Group from $18.50 to $17.75 and set an “outperform” rating for the company in a research report on Tuesday, June 18th. Royal Bank of Canada restated an “outperform” rating and issued a $19.00 price objective on shares of DigitalBridge Group in a research report on Wednesday, July 3rd. Truist Financial cut their price objective on DigitalBridge Group from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. B. Riley dropped their price target on DigitalBridge Group from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. dropped their price target on DigitalBridge Group from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $20.54.

DigitalBridge Group Trading Up 2.1 %

NYSE DBRG traded up $0.30 on Friday, reaching $14.29. 775,650 shares of the company were exchanged, compared to its average volume of 1,562,775. The business’s fifty day moving average price is $13.36 and its 200 day moving average price is $16.42. The stock has a market capitalization of $2.48 billion, a P/E ratio of 9.22, a price-to-earnings-growth ratio of 1.42 and a beta of 2.00. DigitalBridge Group, Inc. has a fifty-two week low of $12.12 and a fifty-two week high of $20.99.

DigitalBridge Group (NYSE:DBRG) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03). The company had revenue of $74.39 million for the quarter, compared to analyst estimates of $100.76 million. DigitalBridge Group had a return on equity of 3.14% and a net margin of 26.64%. Equities research analysts forecast that DigitalBridge Group, Inc. will post 0.28 earnings per share for the current year.

DigitalBridge Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Sunday, June 30th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend was Friday, June 28th. DigitalBridge Group’s dividend payout ratio (DPR) is presently 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.