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

DigitalBridge Group, Inc. (NYSE:DBRGGet Free Report) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $15.92 and last traded at $15.9150, with a volume of 983355 shares trading hands. The stock had previously closed at $15.87.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of DigitalBridge Group in a research report on Friday, May 29th. One 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.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.00.

View Our Latest Report on DBRG

DigitalBridge Group Stock Down 0.0%

The company’s 50 day moving average price is $15.77 and its 200 day moving average price is $15.59. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 10.35 and a beta of 1.47.

DigitalBridge Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.01 per share. 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 payout ratio is 2.60%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DBRG. S&CO Inc. acquired a new position in shares of DigitalBridge Group in the 2nd quarter valued at about $189,000. Carmignac Gestion acquired a new position in DigitalBridge Group during the first quarter worth $5,696,000. Parallel Advisors LLC grew its position 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 valued at $29,000 after purchasing an additional 781 shares during the period. Optiver Holding B.V. boosted its holdings in DigitalBridge Group by 503.7% in the 1st quarter. Optiver Holding B.V. now owns 11,711 shares of the company’s stock worth $181,000 after buying an additional 9,771 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of DigitalBridge Group by 29.4% during the first quarter. Bank of America Corp DE now owns 2,574,508 shares of the company’s stock valued at $39,699,000 after acquiring an additional 584,205 shares during the last quarter. 92.69% of the stock is currently owned by institutional investors and hedge funds.

DigitalBridge Group Company Profile

(Get Free Report)

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.

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