Digitalbridge Group Inc Stock Price, News & Analysis

DigitalBridge Group, Inc. (NYSE: DBRG) will host its quarterly earnings call on August 4, 2022, at 10:00 a.m. ET to discuss Q2 financial results. The earnings report will be released before the call. Participants can access the call via the company's webcast link or by phone. A replay will be available after the call starts at 1:00 p.m. ET on the same day. DigitalBridge is a prominent digital infrastructure investment firm, managing a $47 billion portfolio across various digital sectors.

DigitalBridge Group, Inc. (NYSE: DBRG) has approved a $200 million share repurchase program, aimed at enhancing shareholder value. CEO Marc Ganzi emphasized confidence in the digital infrastructure sector, which remains resilient despite macroeconomic challenges. Additionally, the company plans a reverse stock split, exchanging one Class A common share for every four existing shares in Q3 2022. This move is designed to align its share count with similar firms and generate cost savings as part of ongoing business transformation efforts.

DataBank has announced a significant recapitalization, led by Swiss Life Asset Management AG and EDF Invest, acquiring a 27% interest in the company for $1.2 billion. This move positions DataBank to capture growing demand in edge infrastructure over the next decade. With a network of over 65 data centers across 27 U.S. markets, the company aims to expand further as edge computing demand surges. The transaction is expected to close in the third quarter of 2022, subject to regulatory approvals.

DigitalBridge Group (NYSE: DBRG) announced a recapitalization of its portfolio company DataBank, acquiring a 27% equity interest from existing investors for approximately $1.2 billion in cash, facilitated by Swiss Life Asset Managers and EDF Invest. Following this transaction, DigitalBridge's stake in DataBank will be reduced to 15.5%, yielding $230 million in cash proceeds. This strategic move aims to accelerate DataBank's growth in edge computing and enhance DigitalBridge's portfolio for future digital M&A opportunities.

DigitalBridge Group (NYSE: DBRG) announced its participation in several investor conferences. Key events include the Cowen 50th Annual Technology, Media & Telecom Conference from May 31 to June 2, where President & CIO Ben Jenkins will host a fireside chat on June 1 at 2:45 pm ET. Additionally, the company will participate in the Wells Fargo Streaming & Connectivity Day on June 13 and the Credit Suisse 24th Annual Communications Conference from June 14 to 16. All presentations will be available via webcast on the DigitalBridge website.

Cornerstone is collaborating with Freshwave to launch a mobile connectivity pilot in the City of London, set to commence in October. The initiative aims to upgrade the existing infrastructure to support multi-operator 4G and 5G connectivity using dark fibre and small cells. Spanning approximately 1km along Queen Victoria Street, the pilot will enhance mobile connectivity in this key financial district. If successful, there are plans for a city-wide rollout to further improve mobile connectivity speeds.

Switch, Inc. (SWCH) has announced a definitive agreement with DigitalBridge Group, Inc. (DBRG) for an all-cash acquisition valued at approximately $11 billion, translating to $34.25 per share for Switch stockholders. The transaction aims to leverage Switch's sustainable data center infrastructure and expand its capacity significantly through 2030. Following unanimous Board approval, the deal is expected to close in H2 2022, pending stockholder approval and regulatory conditions. Upon completion, Switch will delist from public exchanges.

DigitalBridge Group reported first quarter 2022 revenues of $257 million with a GAAP net loss of $(262) million or $(0.46) per share. Despite this loss, the company generated $1.6 million in Distributable Earnings (DE) and Adjusted Funds From Operations (AFFO). The Board declared cash dividends for its Series H, I, and J preferred stocks, scheduled for payment on July 15, 2022. CEO Marc Ganzi emphasized strategic transactions that support their investment management platform and progress towards becoming a full-stack digital infrastructure investor.

DigitalBridge Group, Inc. (NYSE: DBRG) will participate in several upcoming investor conferences from May 23-26, 2022. Key events include the J.P. Morgan 50th Annual Global Technology, Media and Communications Conference in Boston and the RBC Global Data Infrastructure Conference in Denver. CFO Jacky Wu will host a fireside chat and engage in 1x1 meetings with investors. Notable participation from portfolio companies includes Vantage Data Centers and Highline do Brasil. DigitalBridge is a leader in digital infrastructure, managing a $45 billion portfolio.