The Vanguard Group, Inc. recently announced the acquisition of new stake in DigitalBridge Group Inc. (NYSE:DBRG). The institutional investor has increased its shareholding in the Real Estate company by 6.18% to 24.05 million shares with purchase of 1.4 million shares. This fresh investment now brings its stake to 15.04% valued currently at $298.89 million. In addition, Capital Research & Management Co raised its holdings by 0.93 million to 8.36 million shares. And T. Rowe Price Investment Manageme has lifted its position by 23.49% or 1.09 million shares – to 5.75 million shares.
With over 1.62 million DigitalBridge Group Inc. (DBRG) shares trading Friday and a closing price of $11.03 on the day, the dollar volume was approximately $17.92 million. The shares have shown a negative half year performance of -26.71% and its price on 05/19/23 gained nearly 0.82%. Currently, there are 158.45M common shares owned by the public and among those 135.89M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for DBRG have a consensus price objective of $18.56. The analysts have set the share’s price value over the next 12 months at a high of $27.00 and a low of $12.50. The average price target is 47.63% above its recent price level and an upside to the estimated low will see the stock gain 11.76% over that period. But an upside of 59.15% will see the stock hit the forecast high price target while median target price for the stock is $18.00.
Insiders at the company have transacted a total of 26 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 14 of these insider trades were purchases, accounting for 520,734 shares. Insider sales of the common stock occurred on 12 occasions, with total insider shares sold totaling 194,292 shares.
The top 3 mutual fund holders in DigitalBridge Group Inc. are American Funds Small Cap World Fu, Vanguard Real Estate Index Fund, and Vanguard Total Stock Market ETF. American Funds Small Cap World Fu owns 8.97 million shares of the company’s stock, all valued at over $111.53 million. The company bought an additional 0.61 million shares recently to bring their total holdings to about 5.61% of the shares outstanding. Vanguard Real Estate Index Fund sold 65293.0 shares to see its total holdings shrink to 7.03 million shares valued at over $87.42 million and representing 4.40% of the shares outstanding. Vanguard Total Stock Market ETF bought 10775.0 shares to bring its total holdings to over 4.95 million shares at a value of $61.59 million. Vanguard Total Stock Market ETF now owns shares totaling to 3.10% of the shares outstanding.
Shares of DigitalBridge Group Inc. (NYSE: DBRG) opened at $11.13, up $0.19 from a prior closing price of $10.94. However, the script later moved the day high at 11.16, up 0.82%. The company’s stock has a 5-day price change of 0.91% and -23.40% over the past three months. DBRG shares are trading 0.82% year to date (YTD), with the 12-month market performance down to -53.42% lower. It has a 12-month low price of $9.99 and touched a high of $25.32 over the same period. DBRG has an average intraday trading volume of 1.70 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.83%, -3.50%, and -19.89% respectively.
Institutional ownership of DigitalBridge Group Inc. (NYSE: DBRG) shares accounts for 89.90% of the company’s 158.45M shares outstanding. Mutual fund holders own 40.52%, while other institutional holders and individual stakeholders account for 48.81% and 0.99% respectively.
It has a market capitalization of $1.77B and a beta (3y monthly) value of 2.05. The earnings-per-share (ttm) stands at -$1.89. The company has a debt-to-equity ratio at 8.37. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.24% over the week and 3.96% over the month.
Analysts forecast that DigitalBridge Group Inc. (DBRG) will achieve an EPS of -$0.22 for the current quarter, -$0.24 for the next quarter and -$0.99 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.29 while analysts give the company a high EPS estimate of -$0.14. Comparatively, EPS for the current quarter was -$0.24 a year ago. Earnings per share for the fiscal year are expected to decrease by -46.00%, and 52.60% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate DigitalBridge Group Inc. (DBRG) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 2 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”
