CastleKnight Management LP Lowers Stake in DigitalBridge Group, Inc. $DBRG

CastleKnight Management LP cut its position in shares of DigitalBridge Group, Inc. (NYSE:DBRG) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,963,434 shares of the company’s stock after selling 120,731 shares during the quarter. DigitalBridge Group makes up 0.7% of CastleKnight Management LP’s investment portfolio, making the stock its 16th largest position. CastleKnight Management LP owned about 1.07% of DigitalBridge Group worth $30,119,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of DBRG. Pentwater Capital Management LP purchased a new stake in shares of DigitalBridge Group during the fourth quarter worth about $176,410,000. KRYGER CAPITAL Ltd purchased a new stake in shares of DigitalBridge Group during the fourth quarter worth about $75,234,000. Soros Fund Management LLC purchased a new stake in shares of DigitalBridge Group during the fourth quarter worth about $36,816,000. Portolan Capital Management LLC boosted its position in shares of DigitalBridge Group by 77.4% in the third quarter. Portolan Capital Management LLC now owns 5,468,226 shares of the company’s stock worth $63,978,000 after acquiring an additional 2,386,066 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its position in shares of DigitalBridge Group by 380.3% in the third quarter. Balyasny Asset Management L.P. now owns 2,963,403 shares of the company’s stock worth $34,672,000 after acquiring an additional 2,346,446 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

DigitalBridge Group Stock Down 0.3%

DBRG opened at $15.72 on Thursday. DigitalBridge Group, Inc. has a 52-week low of $8.94 and a 52-week high of $15.77. The company has a 50 day moving average of $15.64 and a two-hundred day moving average of $15.11. The company has a market cap of $2.87 billion, a P/E ratio of 32.07 and a beta of 1.48.

DigitalBridge Group Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on DBRG shares. Weiss Ratings reissued a “hold (c)” rating on shares of DigitalBridge Group in a research report on Friday, May 29th. Truist Financial started coverage on shares of DigitalBridge Group in a research report on Tuesday, March 31st. They issued a “buy” rating and a $16.00 target price on the stock. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, DigitalBridge Group has a consensus rating of “Hold” and a consensus price target of $16.00.

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.