Do You Believe in the Growth Prospects of DigitalBridge Group (DBRG)?
Investment management company Ave Maria recently released its “Ave Maria Focused Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. At the end of the third quarter, the fund returned -13.13% compared to a -0.75% return for the S&P MidCap 400 Growth Index and -4.88% return for the S&P 500 Index. You can check the top 5 holdings of the fund to know its best picks in 2022.
Ave Maria highlighted stocks like DigitalBridge Group, Inc. (NYSE:DBRG) in its Q3 2022 investor letter. Headquartered in Boca Raton, Florida, DigitalBridge Group, Inc. (NYSE:DBRG) is an infrastructure investment firm. On January 4, 2023, DigitalBridge Group, Inc. (NYSE:DBRG) stock closed at $11.33 per share. One-month return of DigitalBridge Group, Inc. (NYSE:DBRG) was -10.29%, and its shares lost 63.02% of their value over the last 52 weeks. DigitalBridge Group, Inc. (NYSE:DBRG) has a market capitalization of $1.882 million.
Ave Maria made the following comment about DigitalBridge Group, Inc. (NYSE:DBRG) in its Q3 2022 investor letter:
“DigitalBridge Group, Inc. (NYSE:DBRG) is in the process of transforming from a real estate investment trust (REIT) into an alternative asset manager. Legally, the company changed from a REIT to a C-Corp. in mid-2022. The company is monetizing the operating assets that it holds on its balance sheet. Once monetized, the company will look more like a pure-play alternative asset manager, similar to its large competitor, The Blackstone Group. The company has undergone a substantial transformation thus far, which should meaningfully impact the reported financials next year.”
EvgeniiAnd/Shutterstock.com
DigitalBridge Group, Inc. (NYSE:DBRG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held DigitalBridge Group, Inc. (NYSE:DBRG) at the end of the third quarter, which was 26 in the previous quarter.
We discussed DigitalBridge Group, Inc. (NYSE:DBRG) in another article and shared Meridian Funds’ views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
Disclosure: None. This article is originally published at Insider Monkey.
