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BUZZ-DigitalBridge jumps after Q4 profit beats expectations

ReutersFeb 20, 2025 7:00 PM

Shares of alternative asset manager DigitalBridge DBRG.N jump as much as 14.1%; last up 11.8% at $12.02

DBRG posts fourth-quarter distributable earnings of 11 cents per share, beating Wall Street expectations of 7 cents per share, according to estimates compiled by LSEG

Fourth-quarter fee-related earnings jumped 34% to $35.4 million, driven by higher fee revenue

Company delivered record fundraising of $9 billion in 2024, including $4.8 billion in the fourth quarter, largely driven by its co-invest fund to fuel AI and data center growth

DBRG invests in digital infrastructure, including cell towers, data centers, fiber and small cells

Assets under management were $96 billion as of 2024 end, compared with $80 billion a year earlier

As of last close, DBRG stock down 4.7% YTD

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