DigitalBridge Group (NYSE:DBRG) Sets New 12-Month High – Time to Buy?

DigitalBridge Group, Inc. (NYSE:DBRG) shares hit a new 52-week high during trading on Monday . The company traded as high as $15.82 and last traded at $15.8060, with a volume of 1180780 shares traded. The stock had previously closed at $15.80.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DBRG. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DigitalBridge Group in a research report on Friday, May 29th. Truist Financial initiated coverage on DigitalBridge Group in a report on Tuesday, March 31st. They set a “buy” rating and a $16.00 price target on the stock. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $16.00.

DigitalBridge Group Stock Down 0.2%

The company has a market cap of $2.88 billion, a PE ratio of 32.28 and a beta of 1.46. The business’s fifty day moving average is $15.72 and its 200-day moving average is $15.54.

DigitalBridge Group Announces Dividend

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

Institutional Investors Weigh In On DigitalBridge Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Carmignac Gestion bought a new stake in DigitalBridge Group during the 1st quarter worth approximately $5,696,000. Parallel Advisors LLC increased its stake in shares of DigitalBridge Group by 70.4% in the first quarter. Parallel Advisors LLC now owns 1,891 shares of the company’s stock worth $29,000 after purchasing an additional 781 shares in the last quarter. Optiver Holding B.V. increased its stake in shares of DigitalBridge Group by 503.7% in the first quarter. Optiver Holding B.V. now owns 11,711 shares of the company’s stock worth $181,000 after purchasing an additional 9,771 shares in the last quarter. Bank of America Corp DE raised its position in shares of DigitalBridge Group by 29.4% during the 1st quarter. Bank of America Corp DE now owns 2,574,508 shares of the company’s stock valued at $39,699,000 after purchasing an additional 584,205 shares during the period. Finally, Janus Henderson Group PLC raised its position in shares of DigitalBridge Group by 992.3% during the 1st quarter. Janus Henderson Group PLC now owns 812,377 shares of the company’s stock valued at $12,539,000 after purchasing an additional 738,005 shares during the period. 92.69% of the stock is owned by hedge funds and other institutional investors.

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.