Ellis Investment Partners LLC Purchases 5,443 Shares of DigitalBridge Group, Inc. (NYSE:DBRG)

Ellis Investment Partners LLC raised its stake in DigitalBridge Group, Inc. (NYSE:DBRG) by 10.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,458 shares of the company’s stock after purchasing an additional 5,443 shares during the period. Ellis Investment Partners LLC’s holdings in DigitalBridge Group were worth $498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Kingswood Wealth Advisors LLC grew its stake in shares of DigitalBridge Group by 77.4% during the first quarter. Kingswood Wealth Advisors LLC now owns 31,674 shares of the company’s stock worth $280,000 after acquiring an additional 13,816 shares during the last quarter. Bfsg LLC grew its stake in shares of DigitalBridge Group by 56.3% during the first quarter. Bfsg LLC now owns 17,211 shares of the company’s stock worth $152,000 after acquiring an additional 6,201 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of DigitalBridge Group during the first quarter worth about $73,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of DigitalBridge Group during the first quarter worth about $93,000. Finally, SG Americas Securities LLC grew its stake in shares of DigitalBridge Group by 73.8% during the first quarter. SG Americas Securities LLC now owns 32,301 shares of the company’s stock worth $285,000 after acquiring an additional 13,719 shares during the last quarter. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on DBRG. Wall Street Zen lowered DigitalBridge Group from a “hold” rating to a “sell” rating in a research note on Friday, June 6th. JMP Securities reiterated a “market outperform” rating and issued a $16.00 target price on shares of DigitalBridge Group in a research report on Friday, May 16th. Wells Fargo & Company upped their target price on DigitalBridge Group from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Keefe, Bruyette & Woods dropped their target price on DigitalBridge Group from $13.50 to $10.50 and set a “market perform” rating on the stock in a research report on Tuesday, May 6th. Finally, Truist Financial upped their target price on DigitalBridge Group from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, June 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, DigitalBridge Group currently has a consensus rating of “Moderate Buy” and an average target price of $16.28.

DigitalBridge Group Price Performance

NYSE DBRG opened at $9.97 on Friday. The company has a market cap of $1.76 billion, a P/E ratio of 33.22, a P/E/G ratio of 1.13 and a beta of 1.72. The stock has a 50-day moving average of $9.77 and a two-hundred day moving average of $10.21. DigitalBridge Group, Inc. has a 1-year low of $6.41 and a 1-year high of $17.33.

DigitalBridge Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Monday, June 30th. DigitalBridge Group’s dividend payout ratio is currently 13.33%.

DigitalBridge Group 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.