Pacer Advisors Inc. Reduces Holdings in DigitalBridge Group, Inc. $DBRG

Pacer Advisors Inc. reduced its stake in shares of DigitalBridge Group, Inc. (NYSE:DBRG) by 19.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 906,862 shares of the company’s stock after selling 220,804 shares during the quarter. Pacer Advisors Inc.’s holdings in DigitalBridge Group were worth $10,610,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DBRG. DAVENPORT & Co LLC increased its position in DigitalBridge Group by 15.4% during the third quarter. DAVENPORT & Co LLC now owns 1,500,110 shares of the company’s stock worth $17,701,000 after buying an additional 200,110 shares in the last quarter. Sarasin & Partners LLP acquired a new stake in shares of DigitalBridge Group during the third quarter valued at $1,886,000. Moody National Bank Trust Division increased its position in DigitalBridge Group by 18.2% during the 3rd quarter. Moody National Bank Trust Division now owns 119,253 shares of the company’s stock worth $1,395,000 after purchasing an additional 18,368 shares in the last quarter. Corient Private Wealth LLC purchased a new stake in DigitalBridge Group during the 2nd quarter worth about $134,000. Finally, Osaic Holdings Inc. raised its stake in DigitalBridge Group by 18.2% in the 2nd quarter. Osaic Holdings Inc. now owns 14,883 shares of the company’s stock valued at $154,000 after purchasing an additional 2,294 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

DigitalBridge Group Trading Up 2.4%

DBRG stock opened at $13.95 on Friday. The company has a market cap of $2.55 billion, a PE ratio of 232.49 and a beta of 1.77. The stock has a 50-day moving average price of $11.77 and a two-hundred day moving average price of $11.38. DigitalBridge Group, Inc. has a 12-month low of $6.41 and a 12-month high of $15.55.

DigitalBridge Group (NYSE:DBRG) last released its quarterly earnings data on Thursday, March 21st. The company reported ($0.07) earnings per share for the quarter. DigitalBridge Group had a net margin of 18.57% and a return on equity of 4.78%. The firm had revenue of $232.83 million during the quarter. Equities analysts forecast that DigitalBridge Group, Inc. will post 0.17 EPS for the current fiscal year.

DigitalBridge Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st 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 Wednesday, December 31st. DigitalBridge Group’s payout ratio is currently 66.67%.

Analysts Set New Price Targets

Several research firms have issued reports on DBRG. Zacks Research raised shares of DigitalBridge Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 5th. TD Cowen raised their target price on shares of DigitalBridge Group from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Royal Bank Of Canada boosted their price target on DigitalBridge Group from $19.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, December 8th. Weiss Ratings reissued a “sell (d+)” rating on shares of DigitalBridge Group in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded DigitalBridge Group from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.69.

About DigitalBridge Group

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.