DigitalBridge Group (NYSE:DBRG) Sees Strong Trading Volume – Time to Buy?

DigitalBridge Group, Inc. (NYSE:DBRGGet Free Report) saw an uptick in trading volume on Tuesday . Approximately 3,139,273 shares were traded during mid-day trading, a decline of 10% from the previous session’s volume of 3,477,439 shares.The stock last traded at $15.9750 and had previously closed at $15.98.

Analyst Upgrades and Downgrades

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

Read Our Latest Stock Report on DigitalBridge Group

DigitalBridge Group Price Performance

The company has a market capitalization of $3.00 billion, a PE ratio of 10.37 and a beta of 1.47. The stock has a 50-day simple moving average of $15.83 and a 200 day simple moving average of $15.63.

DigitalBridge Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid 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 dividend payout ratio (DPR) is presently 2.60%.

Institutional Trading of DigitalBridge Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System boosted its position in DigitalBridge Group by 1,434.0% during the second quarter. California State Teachers Retirement System now owns 3,267,407 shares of the company’s stock worth $51,560,000 after acquiring an additional 3,054,401 shares during the last quarter. OceanIQ Capital LLC acquired a new position in DigitalBridge Group in the 2nd quarter valued at $461,000. Nykredit A S purchased a new position in shares of DigitalBridge Group during the 2nd quarter worth $49,000. NINE MASTS CAPITAL Ltd lifted its stake in shares of DigitalBridge Group by 88.1% during the 2nd quarter. NINE MASTS CAPITAL Ltd now owns 147,100 shares of the company’s stock worth $2,321,000 after purchasing an additional 68,909 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of DigitalBridge Group during the 2nd quarter worth $57,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.

About DigitalBridge Group

(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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