DigitalBridge Group (NYSE:DBRG) Hits New 1-Year High – Here’s What Happened

DigitalBridge Group, Inc. (NYSE:DBRG)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $15.97 and last traded at $15.9650, with a volume of 3047849 shares changing hands. The stock had previously closed at $15.93.

Analyst Ratings Changes

Separately, Weiss Ratings raised DigitalBridge Group from a “hold (c)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $16.00.

DigitalBridge Group Stock Performance

The company’s 50-day moving average is $15.82 and its 200-day moving average is $15.63. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of 10.37 and a beta of 1.47.

DigitalBridge Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. DigitalBridge Group’s dividend payout ratio (DPR) is currently 2.60%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DBRG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of DigitalBridge Group by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 94,556 shares of the company’s stock worth $834,000 after acquiring an additional 4,122 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in DigitalBridge Group by 45.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,225,993 shares of the company’s stock valued at $19,633,000 after acquiring an additional 693,613 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in DigitalBridge Group by 5.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 392,094 shares of the company’s stock worth $3,458,000 after purchasing an additional 21,930 shares during the period. Envestnet Asset Management Inc. increased its position in DigitalBridge Group by 12.5% in the second quarter. Envestnet Asset Management Inc. now owns 11,746 shares of the company’s stock worth $122,000 after purchasing an additional 1,309 shares during the period. Finally, Cetera Investment Advisers raised its holdings in DigitalBridge Group by 39.1% during the 2nd quarter. Cetera Investment Advisers now owns 21,360 shares of the company’s stock worth $221,000 after purchasing an additional 6,000 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

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.