Gabelli Funds LLC Buys 305,050 Shares of DigitalBridge Group, Inc. $DBRG

Gabelli Funds LLC boosted its stake in DigitalBridge Group, Inc. (NYSE:DBRG) by 249.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 427,550 shares of the company’s stock after acquiring an additional 305,050 shares during the quarter. Gabelli Funds LLC’s holdings in DigitalBridge Group were worth $6,559,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. lifted its position in DigitalBridge Group by 3,788.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 130,540 shares of the company’s stock valued at $2,002,000 after acquiring an additional 127,183 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in DigitalBridge Group in the 4th quarter valued at $31,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in DigitalBridge Group in the 4th quarter valued at approximately $950,000. Versor Investments LP bought a new stake in DigitalBridge Group in the 4th quarter valued at approximately $199,000. Finally, ABC Arbitrage SA bought a new stake in DigitalBridge Group in the 4th quarter valued at approximately $6,722,000. 92.69% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on DBRG. Weiss Ratings upgraded DigitalBridge Group from a “sell (d+)” rating to a “hold (c)” rating in a research note on Monday, March 2nd. Raymond James Financial cut DigitalBridge Group from a “strong-buy” rating to an “underperform” rating in a research note on Tuesday, January 27th. Finally, Truist Financial began coverage on DigitalBridge Group in a research note on Tuesday, March 31st. They issued a “buy” rating and a $16.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $16.00.

DigitalBridge Group Stock Up 0.2%

Shares of DigitalBridge Group stock opened at $15.71 on Thursday. DigitalBridge Group, Inc. has a 12-month low of $8.94 and a 12-month high of $15.71. The stock has a market cap of $2.86 billion, a P/E ratio of 32.05 and a beta of 1.49. The business’s 50 day moving average is $15.52 and its 200-day moving average is $14.34.

DigitalBridge Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.01 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. DigitalBridge Group’s dividend payout ratio is currently 8.16%.

DigitalBridge Group Profile

DigitalBridge Group, Inc (NYSE: DBRG) is a specialized global investment firm focused exclusively on digital infrastructure. The company originates, acquires, and manages a diversified portfolio of businesses that support the digital economy, including data centers, cell towers, small cells, fiber networks, edge infrastructure and related services. DigitalBridge seeks to generate sustainable, long-term returns for its investors by deploying capital into high-growth sectors driven by increasing data consumption, 5G deployment and cloud adoption.

Through its dedicated investment platforms, DigitalBridge provides equity and debt financing solutions to operators and owners of digital infrastructure assets.