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

Shares of DigitalBridge Group, Inc. (NYSE:DBRG) reached a new 52-week high on Tuesday . The company traded as high as $15.95 and last traded at $15.92, with a volume of 2903219 shares. The stock had previously closed at $15.94.

Analysts Set New Price Targets

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

DigitalBridge Group Price Performance

The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 10.34 and a beta of 1.47. The company’s fifty day simple moving average is $15.79 and its two-hundred day simple moving average is $15.60.

DigitalBridge Group Announces Dividend

The firm 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 $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Wednesday, September 30th. DigitalBridge Group’s dividend payout ratio is currently 2.60%.

Hedge Funds Weigh In On DigitalBridge Group

Several large investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC increased its holdings in DigitalBridge Group by 305.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,760 shares of the company’s stock worth $27,000 after purchasing an additional 1,326 shares in the last quarter. Parallel Advisors LLC lifted its holdings 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 in the last quarter. Atlantic Union Bankshares Corp purchased a new position in shares of DigitalBridge Group during the fourth quarter valued at approximately $31,000. Beaird Harris Wealth Management LLC bought a new stake in DigitalBridge Group during the fourth quarter worth $31,000. Finally, Quarry LP grew its holdings in DigitalBridge Group by 1,467.2% during the fourth quarter. Quarry LP now owns 2,053 shares of the company’s stock worth $31,000 after buying an additional 1,922 shares in the last quarter. Institutional investors own 92.69% of the company’s stock.

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.