DigitalBridge Group (NYSE:DBRG) Sets New 12-Month High – Here’s What Happened

DigitalBridge Group, Inc. (NYSE:DBRG)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $15.98 and last traded at $15.9850, with a volume of 1333590 shares traded. The stock had previously closed at $15.92.

Analyst Ratings Changes

A number of equities analysts recently weighed in on DBRG shares. Weiss Ratings cut DigitalBridge Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, August 31st. Wall Street Zen raised shares of DigitalBridge Group to a “hold” rating in a research note on Saturday, September 5th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, DigitalBridge Group presently has a consensus rating of “Hold” and an average price target of $16.00.

DigitalBridge Group Stock Performance

The firm’s 50 day simple moving average is $15.89 and its 200-day simple moving average is $15.70. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 10.38 and a beta of 1.47.

DigitalBridge Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Wednesday, September 30th. DigitalBridge Group’s payout ratio is presently 2.60%.

Hedge Funds Weigh In On DigitalBridge Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Tidal Investments LLC raised its holdings in shares of DigitalBridge Group by 135.1% during the second quarter. Tidal Investments LLC now owns 497,438 shares of the company’s stock worth $7,850,000 after acquiring an additional 285,866 shares in the last quarter. Engineers Gate Manager LP acquired a new position in DigitalBridge Group in the 2nd quarter worth about $529,000. Nykredit A S purchased a new stake in shares of DigitalBridge Group during the 2nd quarter worth about $49,000. Corient Private Wealth LP raised its stake in shares of DigitalBridge Group by 98.3% during the 2nd quarter. Corient Private Wealth LP now owns 19,985 shares of the company’s stock worth $315,000 after purchasing an additional 9,909 shares in the last quarter. Finally, OceanIQ Capital LLC acquired a new stake in shares of DigitalBridge Group during the 2nd quarter valued at about $461,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.

About DigitalBridge Group

DigitalBridge Group, Inc (NYSE: DBRG) is an investment management firm focused on digital infrastructure. Through its investment management platform, the company invests in and manages assets that support the digital economy, including data centers, wireless infrastructure, fiber networks, small-cell systems and edge infrastructure.

DigitalBridge serves infrastructure owners, technology companies, communications providers and other institutional investors by providing investment management and asset management services.