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

DigitalBridge Group, Inc. (NYSE:DBRG)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as $15.79 and last traded at $15.7550, with a volume of 5063279 shares. The stock had previously closed at $15.77.

Analyst Ratings Changes

Several research firms recently weighed in on DBRG. Truist Financial started coverage on shares of DigitalBridge Group in a research note on Tuesday, March 31st. They issued a “buy” rating and a $16.00 target price for the company. 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 issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $16.00.

DigitalBridge Group Stock Down 0.1%

The company has a market cap of $2.87 billion, a P/E ratio of 32.15 and a beta of 1.48. The business has a fifty day moving average price of $15.65 and a 200-day moving average price of $15.24.

DigitalBridge Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Tuesday, June 30th. DigitalBridge Group’s dividend payout ratio is currently 8.16%.

Institutional Investors Weigh In On DigitalBridge Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Parallel Advisors LLC boosted 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 acquiring an additional 781 shares during the period. Handelsbanken Fonder AB boosted its holdings in DigitalBridge Group by 3.0% in the 4th quarter. Handelsbanken Fonder AB now owns 37,500 shares of the company’s stock valued at $575,000 after purchasing an additional 1,100 shares during the period. Cetera Investment Advisers boosted its holdings in DigitalBridge Group by 4.4% in the 4th quarter. Cetera Investment Advisers now owns 28,921 shares of the company’s stock valued at $444,000 after purchasing an additional 1,214 shares during the period. Cerity Partners LLC grew its position in shares of DigitalBridge Group by 2.5% during the 4th quarter. Cerity Partners LLC now owns 53,055 shares of the company’s stock worth $814,000 after purchasing an additional 1,274 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of DigitalBridge Group by 12.5% during 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. 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.