DigitalBridge Group (NYSE:DBRG) Reaches New 12-Month High – Here’s What Happened

DigitalBridge Group, Inc. (NYSE:DBRG)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $15.68 and last traded at $15.6750, with a volume of 974626 shares traded. The stock had previously closed at $15.66.

Wall Street Analyst Weigh In

DBRG has been the subject of several research analyst reports. Truist Financial assumed coverage on DigitalBridge Group in a research note on Tuesday, March 31st. They issued a “buy” rating and a $16.00 price objective for the company. Weiss Ratings raised DigitalBridge Group from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, March 2nd. Finally, Raymond James Financial cut DigitalBridge Group from a “strong-buy” rating to an “underperform” rating in a research report on Tuesday, January 27th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, DigitalBridge Group presently has an average rating of “Hold” and a consensus target price of $16.00.

DigitalBridge Group Stock Performance

The business has a fifty day simple moving average of $15.51 and a 200 day simple moving average of $14.32. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 32.01 and a beta of 1.49.

DigitalBridge Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.01 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. DigitalBridge Group’s dividend payout ratio is 8.16%.

Institutional Investors Weigh In On DigitalBridge Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of America Corp DE grew its stake in shares of DigitalBridge Group by 29.4% in the 1st quarter. Bank of America Corp DE now owns 2,574,508 shares of the company’s stock worth $39,699,000 after purchasing an additional 584,205 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of DigitalBridge Group by 992.3% in the first quarter. Janus Henderson Group PLC now owns 812,377 shares of the company’s stock worth $12,539,000 after purchasing an additional 738,005 shares in the last quarter. Amundi purchased a new position in DigitalBridge Group during the first quarter valued at approximately $187,000. California State Teachers Retirement System increased its stake in DigitalBridge Group by 24.0% in the 1st quarter. California State Teachers Retirement System now owns 213,006 shares of the company’s stock valued at $3,285,000 after buying an additional 41,171 shares during the period. Finally, Quantinno Capital Management LP lifted its position in DigitalBridge Group by 7.7% in the 1st quarter. Quantinno Capital Management LP now owns 81,634 shares of the company’s stock worth $1,259,000 after buying an additional 5,836 shares in the last quarter. 92.69% of the stock is currently owned by institutional investors.

About DigitalBridge Group

DigitalBridge Group, Inc (NYSE: DBRG) is a specialized global investment firm focused exclusively on digital infrastructure. The company originates, acquires, and manages a diversified portfolio of businesses that support the digital economy, including data centers, cell towers, small cells, fiber networks, edge infrastructure and related services. DigitalBridge seeks to generate sustainable, long-term returns for its investors by deploying capital into high-growth sectors driven by increasing data consumption, 5G deployment and cloud adoption.

Through its dedicated investment platforms, DigitalBridge provides equity and debt financing solutions to operators and owners of digital infrastructure assets.