Portolan Capital Management LLC Buys 2,386,066 Shares of DigitalBridge Group, Inc. $DBRG

Portolan Capital Management LLC increased its stake in DigitalBridge Group, Inc. (NYSE:DBRG) by 77.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 5,468,226 shares of the company’s stock after acquiring an additional 2,386,066 shares during the period. DigitalBridge Group comprises 3.5% of Portolan Capital Management LLC’s holdings, making the stock its 4th largest position. Portolan Capital Management LLC’s holdings in DigitalBridge Group were worth $63,978,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. CWM LLC lifted its stake in DigitalBridge Group by 2.5% in the third quarter. CWM LLC now owns 31,239 shares of the company’s stock valued at $365,000 after buying an additional 755 shares during the last quarter. Stoneridge Investment Partners LLC boosted its holdings in shares of DigitalBridge Group by 7.9% during the third quarter. Stoneridge Investment Partners LLC now owns 14,153 shares of the company’s stock valued at $166,000 after acquiring an additional 1,037 shares during the period. Arizona State Retirement System grew its position in shares of DigitalBridge Group by 2.4% during the third quarter. Arizona State Retirement System now owns 52,115 shares of the company’s stock worth $610,000 after acquiring an additional 1,244 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of DigitalBridge Group by 12.5% during the second quarter. Envestnet Asset Management Inc. now owns 11,746 shares of the company’s stock worth $122,000 after acquiring an additional 1,309 shares during the last quarter. Finally, Tidal Investments LLC increased its holdings in shares of DigitalBridge Group by 1.8% in the 2nd quarter. Tidal Investments LLC now owns 114,559 shares of the company’s stock worth $1,186,000 after acquiring an additional 1,986 shares during the period. Institutional investors and hedge funds own 92.69% of the company’s stock.

DigitalBridge Group Stock Up 0.0%

DBRG stock opened at $15.38 on Friday. The company has a 50-day simple moving average of $15.40 and a 200 day simple moving average of $13.17. The company has a market capitalization of $2.81 billion, a P/E ratio of 34.17 and a beta of 1.67. DigitalBridge Group, Inc. has a fifty-two week low of $6.41 and a fifty-two week high of $15.55.

DigitalBridge Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be given 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, March 31st. DigitalBridge Group’s payout ratio is 8.89%.

Analyst Ratings Changes

Several analysts recently weighed in on DBRG shares. Citizens Jmp downgraded shares of DigitalBridge Group from a “market outperform” rating to a “hold” rating and set a $16.00 price objective on the stock. in a research report on Monday, December 29th. Weiss Ratings upgraded shares of DigitalBridge Group from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, March 2nd. Keefe, Bruyette & Woods lifted their price target on DigitalBridge Group from $13.50 to $16.00 and gave the company a “market perform” rating in a report on Tuesday, December 30th. B. Riley Financial downgraded DigitalBridge Group from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $20.00 to $16.00 in a research report on Tuesday, December 30th. Finally, Raymond James Financial lowered DigitalBridge Group from a “strong-buy” rating to an “underperform” rating in a report on Tuesday, January 27th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, DigitalBridge Group currently has an average rating of “Hold” and a consensus target price of $16.00.

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.