Garnet Equity Capital Holdings Inc. Has $9.25 Million Stock Position in DigitalBridge Group, Inc. (NYSE:DBRG)

Garnet Equity Capital Holdings Inc. reduced its stake in DigitalBridge Group, Inc. (NYSE:DBRG) by 10.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 527,552 shares of the company’s stock after selling 60,000 shares during the quarter. DigitalBridge Group accounts for 2.9% of Garnet Equity Capital Holdings Inc.’s portfolio, making the stock its 6th biggest position. Garnet Equity Capital Holdings Inc.’s holdings in DigitalBridge Group were worth $9,253,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP bought a new stake in DigitalBridge Group in the 3rd quarter valued at about $47,948,000. Pacer Advisors Inc. bought a new stake in shares of DigitalBridge Group during the fourth quarter valued at approximately $19,351,000. Schonfeld Strategic Advisors LLC raised its holdings in shares of DigitalBridge Group by 490.7% during the third quarter. Schonfeld Strategic Advisors LLC now owns 640,876 shares of the company’s stock valued at $11,267,000 after buying an additional 532,376 shares during the last quarter. Raymond James & Associates boosted its position 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 buying an additional 355,524 shares during the period. Finally, Invesco Ltd. grew its holdings in DigitalBridge Group by 12.6% in the 3rd quarter. Invesco Ltd. now owns 2,066,017 shares of the company’s stock worth $36,321,000 after buying an additional 231,265 shares in the last quarter. 92.69% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on DBRG shares. JPMorgan Chase & Co. reduced 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. Truist Financial increased their target price 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 equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, DigitalBridge Group presently has a consensus rating of “Buy” and an average price target of $21.75.

DigitalBridge Group Price Performance

Shares of DBRG traded up $0.43 during midday trading on Thursday, reaching $14.54. The stock had a trading volume of 3,584,395 shares, compared to its average volume of 2,265,717. The company has a market capitalization of $2.38 billion, a P/E ratio of 9.22 and a beta of 1.95. The firm’s 50 day moving average price is $18.16 and its 200-day moving average price is $17.73. DigitalBridge Group, Inc. has a 52 week low of $10.20 and a 52 week high of $20.99.

DigitalBridge Group (NYSE:DBRG) last released its earnings results on Tuesday, February 20th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.06. DigitalBridge Group had a return on equity of 2.91% and a net margin of 26.64%. The firm had revenue of $350.31 million for the quarter, compared to analyst estimates of $287.41 million. On average, equities analysts forecast that DigitalBridge Group, Inc. will post 0.25 earnings per share for the current year.

DigitalBridge Group Dividend Announcement

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

About DigitalBridge Group

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.