DigitalBridge Group (NYSE:DBRG) Sees Strong Trading Volume – What’s Next?

DigitalBridge Group, Inc. (NYSE:DBRG) saw an uptick in trading volume on Thursday . 2,879,328 shares changed hands during trading, a decline of 19% from the previous session’s volume of 3,539,319 shares.The stock last traded at $15.7750 and had previously closed at $15.75.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Truist Financial started coverage on DigitalBridge Group in a research report on Tuesday, March 31st. They issued a “buy” rating and a $16.00 target price on the stock. Weiss Ratings restated a “hold (c)” rating on shares of DigitalBridge Group in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, DigitalBridge Group has an average rating of “Hold” and a consensus price target of $16.00.

DigitalBridge Group Price Performance

The company has a market capitalization of $2.88 billion, a PE ratio of 32.19 and a beta of 1.46. The stock’s 50 day simple moving average is $15.70 and its 200-day simple moving average is $15.43.

DigitalBridge Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors 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 dividend on an annualized basis and a dividend yield of 0.3%. DigitalBridge Group’s payout ratio is 8.16%.

Institutional Investors Weigh In On DigitalBridge Group

Hedge funds have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC boosted its position in DigitalBridge Group by 305.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,760 shares of the company’s stock valued at $27,000 after buying an additional 1,326 shares during the period. Parallel Advisors LLC increased its position in shares of DigitalBridge Group by 70.4% during the first quarter. Parallel Advisors LLC now owns 1,891 shares of the company’s stock worth $29,000 after acquiring an additional 781 shares during the period. Atlantic Union Bankshares Corp acquired a new stake in shares of DigitalBridge Group in the fourth quarter valued at $31,000. Beaird Harris Wealth Management LLC acquired a new stake in shares of DigitalBridge Group in the fourth quarter valued at $31,000. Finally, Quarry LP boosted its holdings in DigitalBridge Group by 1,467.2% in the fourth quarter. Quarry LP now owns 2,053 shares of the company’s stock valued at $31,000 after purchasing an additional 1,922 shares during the period. 92.69% of the stock is currently owned by institutional investors and hedge funds.

DigitalBridge Group Company Profile

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.