DigitalBridge Group, Inc. (NYSE:DBRG - Get Free Report) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totalling 20,140,000 shares, a growth of 18.3% from the September 15th total of 17,020,000 shares. Based on an average daily volume of 2,440,000 shares, the days-to-cover ratio is currently 8.3 days. Currently, 11.7% of the shares of the stock are sold short.
Shares of DBRG traded up $0.15 during mid-day trading on Monday, hitting $15.48. 1,758,876 shares of the company's stock were exchanged, compared to its average volume of 2,294,368. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 9.91, a P/E/G ratio of 2.63 and a beta of 1.95. The stock's 50-day moving average is $13.26 and its 200-day moving average is $14.23. DigitalBridge Group has a fifty-two week low of $11.07 and a fifty-two week high of $20.99.
DigitalBridge Group (NYSE:DBRG - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). DigitalBridge Group had a net margin of 35.10% and a return on equity of 4.49%. The business had revenue of $390.34 million during the quarter, compared to analysts' expectations of $97.05 million. As a group, equities research analysts anticipate that DigitalBridge Group will post 0.16 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.01 per share. The ex-dividend date is Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.26%. DigitalBridge Group's payout ratio is 2.58%.
DBRG has been the topic of several research reports. Keefe, Bruyette & Woods decreased their price target on shares of DigitalBridge Group from $18.50 to $17.75 and set an "outperform" rating on the stock in a research note on Tuesday, June 18th. JPMorgan Chase & Co. increased their price target on DigitalBridge Group from $22.00 to $23.00 and gave the company an "overweight" rating in a report on Tuesday, October 1st. B. Riley lowered their price objective on DigitalBridge Group from $27.00 to $24.00 and set a "buy" rating on the stock in a research note on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft cut their target price on DigitalBridge Group from $17.00 to $16.00 and set a "buy" rating for the company in a research note on Thursday, August 15th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $19.00 price target on shares of DigitalBridge Group in a research report on Wednesday, July 3rd. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $19.22.
Read Our Latest Stock Analysis on DBRG
Institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in DigitalBridge Group by 4.1% during the second quarter. Victory Capital Management Inc. now owns 22,165 shares of the company's stock worth $304,000 after purchasing an additional 870 shares in the last quarter. Arizona State Retirement System raised its stake in DigitalBridge Group by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 45,735 shares of the company's stock worth $627,000 after acquiring an additional 872 shares in the last quarter. Fulton Bank N.A. lifted its position in DigitalBridge Group by 3.2% in the third quarter. Fulton Bank N.A. now owns 28,372 shares of the company's stock valued at $401,000 after acquiring an additional 878 shares during the last quarter. King Luther Capital Management Corp boosted its stake in DigitalBridge Group by 1.3% in the second quarter. King Luther Capital Management Corp now owns 71,038 shares of the company's stock valued at $973,000 after acquiring an additional 942 shares in the last quarter. Finally, nVerses Capital LLC grew its holdings in shares of DigitalBridge Group by 633.3% during the second quarter. nVerses Capital LLC now owns 2,200 shares of the company's stock worth $30,000 after purchasing an additional 1,900 shares during the last quarter. 92.69% of the stock is owned by hedge funds and other institutional investors.
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.
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