Ovata Capital Management Ltd Takes Position in DigitalBridge Group, Inc. $DBRG

Ovata Capital Management Ltd purchased a new stake in shares of DigitalBridge Group, Inc. (NYSE:DBRG) in the 4th quarter, Holdings Channel.com reports. The fund purchased 101,560 shares of the company’s stock, valued at approximately $1,558,000. DigitalBridge Group comprises about 0.3% of Ovata Capital Management Ltd’s investment portfolio, making the stock its 29th largest holding.

Several other large investors have also recently modified their holdings of DBRG. Vanguard Group Inc. increased its position in shares of DigitalBridge Group by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 17,351,817 shares of the company’s stock worth $266,177,000 after buying an additional 116,360 shares during the period. Portolan Capital Management LLC increased its position in shares of DigitalBridge Group by 77.4% during the third quarter. Portolan Capital Management LLC now owns 5,468,226 shares of the company’s stock worth $63,978,000 after buying an additional 2,386,066 shares during the period. Geode Capital Management LLC increased its position in shares of DigitalBridge Group by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 4,082,778 shares of the company’s stock worth $62,640,000 after buying an additional 104,773 shares during the period. Invesco Ltd. increased its position in shares of DigitalBridge Group by 5.5% during the third quarter. Invesco Ltd. now owns 4,049,310 shares of the company’s stock worth $47,377,000 after buying an additional 212,361 shares during the period. Finally, Azora Capital LP increased its position in shares of DigitalBridge Group by 62.6% during the third quarter. Azora Capital LP now owns 3,703,734 shares of the company’s stock worth $43,334,000 after buying an additional 1,425,583 shares during the period. Institutional investors own 92.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DBRG shares. Truist Financial started coverage on shares of DigitalBridge Group in a research report on Tuesday, March 31st. They set a “buy” rating and a $16.00 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of DigitalBridge Group in a research report on Friday, May 29th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, DigitalBridge Group has a consensus rating of “Hold” and a consensus target price of $16.00.

DigitalBridge Group Price Performance

Shares of NYSE DBRG opened at $15.68 on Friday. The stock has a market capitalization of $2.86 billion, a P/E ratio of 31.99 and a beta of 1.48. The company has a 50-day moving average price of $15.59 and a 200-day moving average price of $14.71. DigitalBridge Group, Inc. has a 1 year low of $8.94 and a 1 year high of $15.72.

DigitalBridge Group Announces Dividend

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

DigitalBridge Group Company 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.