DigitalBridge Group, Inc. (NYSE:DBRG) Short Interest Down 10.1% in March

DigitalBridge Group, Inc. (NYSE:DBRG) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 20,240,000 shares, a drop of 10.1% from the March 15th total of 22,510,000 shares. Based on an average daily volume of 2,100,000 shares, the days-to-cover ratio is presently 9.6 days. Approximately 12.5% of the shares of the company are short sold.

DigitalBridge Group Price Performance

DBRG stock traded down $0.48 during trading on Wednesday, hitting $17.70. 1,458,922 shares of the company traded hands, compared to its average volume of 1,875,991. The stock’s 50-day simple moving average is $18.78 and its 200 day simple moving average is $17.71. The company has a market cap of $2.89 billion, a PE ratio of 36.11 and a beta of 1.91. DigitalBridge Group has a 1 year low of $10.20 and a 1 year high of $20.99.

DigitalBridge Group (NYSE:DBRG) last announced its quarterly earnings results on Tuesday, February 20th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.06. The company had revenue of $350.31 million during the quarter, compared to analysts’ expectations of $287.41 million. DigitalBridge Group had a return on equity of 2.39% and a net margin of 12.33%. Research analysts expect that DigitalBridge Group will post -0.14 earnings per share for the current year.

DigitalBridge Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Sunday, March 31st were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.23%. The ex-dividend date was Wednesday, March 27th. DigitalBridge Group’s dividend payout ratio is currently 8.16%.

Institutional Trading of DigitalBridge Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. New York State Common Retirement Fund increased its position in shares of DigitalBridge Group by 0.3% in the fourth quarter. New York State Common Retirement Fund now owns 151,149 shares of the company’s stock valued at $2,651,000 after buying an additional 514 shares in the last quarter. Stifel Financial Corp increased its position in shares of DigitalBridge Group by 0.9% in the fourth quarter. Stifel Financial Corp now owns 59,297 shares of the company’s stock valued at $1,040,000 after buying an additional 538 shares in the last quarter. Arizona State Retirement System increased its position in shares of DigitalBridge Group by 1.5% in the third quarter. Arizona State Retirement System now owns 46,093 shares of the company’s stock valued at $810,000 after buying an additional 694 shares in the last quarter. Strs Ohio boosted its stake in shares of DigitalBridge Group by 2.1% in the third quarter. Strs Ohio now owns 34,200 shares of the company’s stock worth $601,000 after acquiring an additional 700 shares during the last quarter. Finally, Independent Advisor Alliance boosted its stake in shares of DigitalBridge Group by 4.5% in the third quarter. Independent Advisor Alliance now owns 17,076 shares of the company’s stock worth $300,000 after acquiring an additional 734 shares during the last quarter. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Truist Financial raised their price objective on DigitalBridge Group from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $22.08.

DigitalBridge Group Company Profile

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.